Adding a home extension is a great way to get the home you want without having to relocate. You could extend your living space by adding rooms or a second floor. It can be combined with a renovation in other parts of the home.
The possibilities for adding a home extension are exciting. However, this also opens the door to making mistakes you have to live with.
Here are five things to consider when adding a home extension to make the idea and implementation as smooth as possible.
The Need for a Vision
Before you start calling for estimates, decide your vision for the extension. Do you need more bedrooms for your growing family? Do you want to incorporate a home office? Are you trying to build an adjacent granny flat?
Know what you want so that you can get accurate price quotes for that type of project and select a contractor who will do it right. If you want to do something major, like adding an additional storey to your house, it would be better to work with a team with experience on both small- and large-scale projects.
A team like Projeco, for instance, will be able to help you through every step of the project and give you advice on what can and can’t be done.
They’ll also be able to give you information on possible complications that could arise from different choices.
The Legal Requirements
As the building owner, it is your obligation to get the necessary permits, inspections and contracts.
You may not need a permit to renovate your kitchen, but it is almost certain that any home extension will require a permit. Home warranty insurance may be necessary as a condition of the project as well.
The Financial Aspects
Know your budget at the start, and you’ll be able to work with a contractor to craft a design that suits both your budget and your family. When you know what you can spend, you’ll be able to prioritise aspects of the project that matter most to you.
There are several options for financing your home extension. If you have the cash, you can pay for it outright. You could probably borrow against the equity in your home to fund the extension.
However, you need to be careful not to borrow too much. Don’t use the likely increased value of your home as an excuse to over-build. That value won’t be seen until you sell your home, and you have to make the mortgage payments until then.
The Impact of the Little Things
When you’re adding a home extension, recognise that all the little things add up. For example, upgrading the roofing materials or throwing in other fixes could add to the labour costs.
When adding a home extension, consider in the budget the furnishings, lighting and window treatments that you may not have considered in the building budget, says Award-winning Adelaide Interior Designer, Penelope Herbert, from Plush Design Interiors.
In fact, all the little things often result in a final bill that is 10 percent more than the original estimate. Always give yourself a buffer above the initial cost estimate. Then you will be able to cover any unforeseen expenses.
The Need for Counsel
You should ask real estate agents for their estimates for how the proposed home extension would affect the value of your home.
You should consider talking to an architect as they’re the best source of advice on how to modify your existing home to adapt to the new area you want to add.
They could offer solutions that lower the cost of the project or allow the new addition to seem like an original part of the home.
Adding a home extension allows your home to evolve with your family’s needs. However, you cannot afford to rush into the project without a detailed plan and budget.