Is It Worth Adding An Extension?

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    The financial viability of a home expansion is a topic that is posed by many of our customers who are interested in our home extension services. It is a very good question to enquire about. Because a home is one of the most expensive investments that many of us will make in our lifetimes, we need to give serious consideration to the amount of money that we put into purchasing a home.

    On the other hand, the term "worth it" might be understood in two different meanings. The first one can be understood in terms of straightforward finances and refers to the price of the extension. The second reason is based on feelings and refers to the importance of the extension.

    Whether you are expecting a new little bundle of joy, have a house full of adolescents, or simply want to create the ultimate hideaway for leisure, extending your home is an excellent option to increase the amount of living space available. Extensions are not only a more financially feasible option to moving, but they also increase the value of the house.

    If you have been debating whether or not to add an addition to your house but aren't completely sold on the idea, then we are here to lend a hand. We are aware that performing any kind of construction work on your house is a large financial outlay, which is why you need to be certain of your choice before arranging for the work to begin. As a result of this, we have compiled a guide that provides a response to the question, "Are house expansions worth the money?" This book includes a wide range of fantastic advantages.

    A Home Extension In Simple Financial Terms

    You should conceive of adding on to your home as an investment that will pay off in the medium to long term — at least five years down the road — in order to realise a financial return from the project.

    If you intend to remain in your home for an extended period of time and house prices continue to climb over time, you should consider whether or not it will be financially beneficial to extend your home. In addition to this, you will have had many years to appreciate the addition to your home.

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    We believe that obtaining planning approval for the addition, even if you do not intend to actually construct it, is a more effective strategy for increasing the value of your property if you do not want to remain in the same location for the foreseeable future. In most cases, the value that planning permission will contribute to a home is significantly higher than the expense of acquiring it. As a result, securing planning permission is considered a "fast win" in compared to building an expansion.

    Other Things Matter

    Before you get carried away with the concept of adding thousands of pounds in worth to your home merely by creating a little add-on, it is also necessary to think carefully about the larger context in which the property is located. This will help you avoid making any rash decisions. To begin, it is important to keep in mind that the value of a piece of real estate is almost never determined by a single attribute by itself.

    There is a wide variety of additional information that contributes to the change in value of a piece of property. One of these is the fixed position, which, for example, cannot be altered. There are also other considerations, such as the condition of the furnishings, the size of the rooms, and whether or not the property is a leasehold. The addition of an extension could be able to alleviate some of these worries, but it doesn't mean that those worries will go away entirely. Therefore, before you start looking into the prospect of an extension, you should give some serious consideration to whether or not it would be reasonable.

    Consider what it is you stand to lose as well, as this is an important consideration. The construction of an addition can, at first glance, give the impression of being a zero-sum game, in which there is everything to gain and nothing to lose. Nevertheless, an extension will, by its very nature, result in the loss of some of the outdoor area, and it is essential for you to make sure that you make up your mind beforehand regarding whether or not you will be okay with this loss.

    Whether it's a patio, a driveway, or even just a sliver of the garden that you decide to sacrifice, you need to make sure that the value of the outdoor area you're losing is less than the value that you'll be adding on with the extension. This is important whether you're deciding to sacrifice a patio, a driveway, or even just a sliver of the garden. Explore our selection of reputable home builders in Melbourne to choose the perfect one for your ideal home.

    The Purpose Is Important 

    When it comes to deciding whether or not to extend your home, it is important to not only define the process that you intend to follow but also to be certain in your mind what the purpose of the extension will be. If you decide to extend your home, it is also important to define not just the process that you intend to follow. After all, there is no use in deciding to commit time, energy, and money on an extension before you have it crystal clear in your mind what you want to use it for after it is completed.

    Assume that the primary goal is to sell the entire property for a bigger profit than you would have otherwise made if the expansion had not been built. This is the case if the only goal is to sell the property. In that situation, it is possible to do an analysis of the market as well as the local area in order to determine what kinds of additions are adding value in your area, and you can base your selection on the results of that analysis.

    On the other hand, if you require the extension for reasons that are not necessarily general, such as because you have a growing family, then the requirements that you have will most likely be more specific. If this is the case, then the value that it delivers may wind up consisting mostly of the value that greater space can be created in the here and now. It is possible that future buyers of your home will not place the same level of importance on the expansion that you do, which could leave you feeling dissatisfied with the return on investment.

    Is Building An Extension Worthwhile?

    Extensions typically increase the square footage of a house, which leads to an increase in the property's value. It's true that everyone could use a little bit more living space. However, before you rush into anything, take some time to think over the following considerations so that you can be certain that extending your contract is the best option for you:

    Ceiling Price In The Area

    There is something called a "ceiling price" in every location. Regardless of the improvements that have been made to the home, it is the highest price that buyers are willing to pay for a home in a certain location.

    People frequently try to find the worst house on the greatest street to buy for themselves. The best house on the worst street is something that not many people want.

    Therefore, before beginning work on extending the property, it is important to first determine whether or not the price of the house has already approached its maximum possible value. A trustworthy real estate agent will be able to provide guidance on this matter.

    Build Costs Vs Value Gain

    The addition of an extension will almost always result in a rise in the value of a home. Having said that, this should not be the only thing you take into account.

    If you intend to sell your home in the not-too-distant future, the additional value that an extension adds must outweigh the additional expense of building it before you should consider adding one.

    You can seek estimates for the cost of the build from local tradesmen, and then compare those costs to the expected value rise you'll get from the project.

    Complexity Of The Build

    When determining whether or not building an extension will increase the value of your house, another factor to consider is how difficult it will be to construct the extension.

    If you want to build on sloping terrain, for example, the additional labour that will be necessary to lay the foundations could cause the extension to cost more than the amount of increased value that it provides.

    Quality Of The Build

    If you want to add value to your property by constructing something, you need make sure that the job is done to a high degree by qualified individuals.

    For instance, if the extension will require work on the electrical system, you should hire an electrician who is qualified under Part P. This will ensure that the work complies with the most recent building rules.

    The value of the house may actually decrease rather than increase if the expansion was badly constructed and did not adhere to the building requirements. This is because potential buyers will need to take in the price of repairing the flaws with the extension.

    Inconvenience & Stress

    There is going to be some level of disruption for anyone who lives on the property throughout the refurbishment, which is to be expected given the scope of the work being done.

    You will want to be certain that the amount you will receive in increased property worth reflects the level of annoyance and stress that you will experience while the improvements are being made to your property.

    Finance Costs

    If you do not have the funds necessary to pay for the costs of the expansion up front, you need be careful that the cost of obtaining the necessary financing will not exceed the value that will be added to your home.

    Best Extensions For Increasing House Value

    If, after thinking over the aforementioned considerations, you have concluded that it would be beneficial to add an extension to your property, the next step is to determine the kind of expansion that would be most suitable for your needs.

    This will depend on a lot of things, not the least of which is the style of property you own, but in general, the following kinds of expansions tend to add the most value to a home:

    Loft Conversion

    This is one of the most popular kinds of extensions, partly owing to the fact that it is one of the least expensive ways to add extra space to a property and also because it is one of the methods that causes the least amount of disruption to the existing layout.

    In most cases, the addition of a new bedroom and even a new bathroom can be accomplished through the conversion of the loft space. It is projected that converting your attic into liveable space will increase the value of your home by around 12.5 percent.

    Single or Double-Storey Extension

    Single-story additions are popular choices for expanding a home's liveable space because of their capacity to accommodate additional space within existing rooms, such as kitchens and living rooms. Make it a two-story addition so that you can add more bedrooms or make space for an additional bathroom if you want to get the most value out of your investment.

    The value of your home could increase by as much as 11 percent if you build a full-fledged addition with two stories onto it.

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    Conservatory

    Because of the unpredictability of the weather in the United Kingdom, building a space that includes a garden that can be enjoyed throughout the year requires the addition of a conservatory.

    They are simple to instal, reasonably inexpensive (you'll be looking at anywhere about 5,000 pounds and upwards), and they can add anywhere from five to seven percent to the value of your property.

    Garage Conversion

    The majority of single-car garages are simply too narrow to accommodate current vehicles in a comfortable manner. As a consequence of this, the majority of people make use of them as a place to dispose of things that they no longer require.

    Because living space is at a premium, converting your garage into an additional bedroom may make sense, particularly if the garage is already integrated into the house. In the event that you are concerned about running out of locations to put stuff, you can always keep a portion of it as storage space.

    The value of your home could increase by as much as twenty percent if you transform a garage into a bedroom complete with an attached bathroom. It is possible that the value of the property will improve by ten percent if you decide to convert it into a study or playroom.

    Alternatives To Extensions

    There are a number of considerations to take into account before deciding whether or not to build an extension to your house, despite the fact that these additions almost always result in increased property value. If this describes you in any way, don't lose hope since there are additional things you can do to increase the value of your property.

    As an illustration, you always have the option to get the planning permit in place rather than actually building the extension. This will make it more appealing to potential buyers who wish to extend, which will result in a rise in value without the need for you to invest the money or spend the time having the work done.

    If you are putting your home up for sale and want to increase the likelihood of getting a higher sale price without any construction work, you may want to read our article on how to add value to an investment property because many of the methods also apply to homeowners. If you are putting your home up for sale, you may want to read this article.

    Are House Extensions Worth It? The Top 5 Benefits

    To ensure that you are able to enjoy your newly remodelled living space after any construction work that is done on your house, careful consideration and considerable preparation are both required. When it comes to constructing an addition to your home, one of the most important considerations to give attention to is the purpose that will be served by the new space, in addition to determining whether or not there will be sufficient space for the new structure. We have gone deeper into the following five benefits of extending one's home in order to assist you in deciding whether or not this is the right course of action for you:

    Alternative To Moving House

    Due to the fact that the cost of housing has climbed by as much as 4 percent in the past year alone, many homeowners are looking for alternatives to relocating that are less expensive. Families are increasingly choose to extend their existing homes rather than relocate to larger properties because the lack of space in their current homes is the primary factor for most relocations.

    This will, without a doubt, save you a significant amount of money and spare you the stress of looking for a new home, packing up your current one, and moving into the next one. Instead, the only thing you will have to suffer through is some building work on your house for a couple of months, and then you will be able to move into your brand-new, roomy home. You would have been able to save a significant amount of money, which you can now put towards the interior design of your addition.

    If you have a growing family that is already established in the area, it may be more beneficial to make an investment in a house addition rather than relocate. The younger members of the family may experience a great deal of anxiety and stress as a result of the impending transition to new nurseries, schools, and colleges. Children can avoid the disruption of having to begin their education all over again by remaining in the same location as their friends and being able to complete their studies in an environment in which they are comfortable.

    Tailor The Design To Your Family Needs

    When you choose a skilled construction company to add on to your home, you have complete creative control over the design process and may adapt any aspect of the addition to meet the requirements of your household. Every facet of your conservatory, from the windows and doors to the structure as a whole, can be tailored specifically to your preferences as part of the bespoke service. When you choose to have house extensions done in Woburn Sands and the surrounding regions, you will be teamed up with an experienced architect who will collaborate with you to bring your vision for the project to fruition.

    Architectural drawings are perfect for providing you with an accurate idea of what to anticipate from your home extension once it is finished. They also give you the opportunity to make any necessary adjustments to the design before construction begins, which ensures that you will be satisfied with the end result. Finding the best home builders in Melbourne is a crucial decision that must be made. At MJS Construction Group, we have a wide variety of the most best home design constructions for you to look at.

    You Do Not Always Need Planning Permission

    The fact that you typically do not have to submit an application for planning approval in order to extend your home is one of the many advantages offered by house additions. The vast majority of house additions qualify as "permitted development," which refers to the rights that homeowners have to make alterations to their property without first obtaining approval from the relevant zoning or planning authorities.

    The vast majority of property owners, with the exception of those who live in "designated areas," should never have to deal with any issues in relation to planning permission. If you live in an area that is protected by the government, such as a national park, a world heritage site, or a conservation area, you may have a tough time getting permission to start building on your land. If, on the other hand, you do not fit into any of the aforementioned categories, you are still permitted to arrange a house addition so long as it satisfies the following criteria:

    • The extension does not take up more than half of the properties of land.
    • The top of the extension does not exceed the highest part of the current roof.
    • The eaves of the extension are not higher than the existing properties eaves.
    • The extension is not built forward of the principal elevation or if it fronts a road, the side elevation.
    • The extension does not include a balcony, raised platform or veranda.
    • No alterations have been made to the existing roof.
    • There has been no chimney, flue or vent pipe installed in the extension.
    • The extension does not have a microwave antenna such as a satellite dish.

    Provides Additional Living Space

    The capacity of a house extension to rapidly give additional living space is, by a wide margin, one of the perks that homeowners want most when they build an addition onto their home. As was noted earlier, a house extension is the ideal solution in the event that you are beginning to outgrow your property but would prefer not to uproot your family and move to a new location.

    When evaluating the applications of your new space, you have a wealth of options available to you; however, the requirements of your family should serve as the primary factor in making your ultimate decision. Have you just recently begun working from home and found that you require an office? Do you think it would be a good idea to construct a playroom for the children in the family? Do you wish to design a room in which you may host visitors and other guests? There is an infinite number of possibilities, which means that you are free to turn your expansion into any room of your choosing.

    You might even choose to include your new addition into the layout of your current house in order to generate a sizable open-concept living area. Those individuals who like the concept of an open-plan kitchen-dining area that flows into the living room will find this to be an excellent option. Because of its capacity to inspire all members of the family to spend time together rather than shutting themselves off in different areas, the open-plan living concept is continuing to gain in favour as a method of interior design. If you are at a loss for ideas on how to decorate an open-concept area, we highly recommend looking at the thirty chic suggestions that are presented in Elle Decor.

    Even though every homeowner has the option of turning their extension into whatever space they see fit, we recommend that they keep the room's fundamentals simple and unadorned so that it can be used for a variety of purposes in the future. If you keep the walls, flooring, and ceilings in your extension a simple and neutral colour palette, then you won't have to redesign the space entirely in the event that you decide to alter the use of your extension in the future.

    Instead, you will have a blank canvas that can be embellished to reflect your concept through the use of various pieces of furniture, decorations, and finishing touches. Choose a colour scheme that is neutral if you want to give the impression that the room is larger than it actually is. As opposed to dark colours which absorb light, paler shades reflect both natural and artificial lighting, allowing it to bounce across the room.

    Why DIY Is a Beneficial for House Extension Projects

    People who are interested in extending their homes will find that BIY is an easy, one-stop shop to work with because we take care of everything, from the planning and design to the construction and fit-outs. This implies that many of the costs you incur while extending your home by going to various specialists, such as lawyers, builders, planning departments, and architects, are handled in a streamlined manner and in a unified manner. MJS Construction Group provides a comprehensive selection of duplex build options.

    Because we do it all day, every day, we are able to achieve significant cost savings, which we then pass on to our customers. As a result, when it comes to Irish home extensions, you won't find a more suitable choice. Keep in mind, too, that we design additions for a wide variety of reasons; nonetheless, one of the primary goals is always to add as much value as we can to the property once the new addition has been finished.

    FAQs About Adding An Extension

    Is It Better To Extend? Generally, extending your home will be a cost-effective investment that will pay back on itself when you eventually sell – but not always. The location and demand of your property will usually guarantee that your extension will add value to your home when it comes to selling.

    Build Costs Vs Value Gain

    In most cases, adding an extension will increase the value of a property. However, that isn't the only consideration you should make. If you plan on selling your property shortly, the cost of creating an extension must be less than the value you'll gain from doing so.

     

    For a full planning application, you will need professional architecture drawings so that the answer would be Yes. Although Permitted Development applications require a sketch and letter of intent, an architecture drawing is better because, from a sketch, your builder could go over by 5cm, thus risking enforcement.

    It will be stressful. It will possibly exceed your projections in terms of time and money. But you will be rewarded with a home sculpted to the requirements of your family where everyone's needs are met. And you will forget the trauma you experienced along the way.

    A few things that can go wrong are severe hair damage, your hair extensions becoming too visible, or your hair extensions falling out prematurely because the application process wasn't correct. Your natural hair can be easily damaged from the incorrect application or the application being done poorly.

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