People tend to live in the present without considering what might happen or what they might need in the future. They tend to get the property with the same ideology, without realising that they might need extra space for various reasons, whether due to kids, elderly parents, other family members moving in, or creating recreation within the house. In such cases, they are but three options for how one can tackle this situation. One, live in the tiny house whilst being forced to share bathrooms and bedrooms, purchase and move into a bigger house, or invest in a house extension.
An extension house can be of different forms, i.e. upwards, where another storey is added to the home or extends down into the cellar spaces. If space permits, some people are also open to the side of the house.
The Benefit of House Extension:
- You can avoid the hassle of moving. Moving can be a tedious job that involves a lot of complications. You have to move from your current home, buy a new one, arrange finances for that purpose, and design and furnish the new house. Furthermore, there will be hiring packers and movers, switching children’s school, transferring utilities, getting accustomed to the new commute arrangements, and not to mention the nostalgia of leaving your home.
- However, if you go down the house extension route, you can retain your home with all its charm and nostalgia and still gain something new and more. The new space that you build can be designed to look any way you want it to. So you get an additional area, designed as per your choice, without the hassle of moving anywhere.
- When it comes to house extension costs, it is essential to note that while it might be costly, it is still far more affordable to buy a completely new house. This is a fact more so when you consider real estate fees, brokerage, and stamp duty. However, when it comes to extension houses, you set the limits and the budget. You are free to curate designs and requirements that are compatible with your set budget.
- Furthermore, by ensuring a house extension cost, you will essentially be expanding the house area; quite significantly; if you invest in a second storey extension, this extension house adds value to your property in terms of market or resale value.
House Extension Cost:
Extension houses can be of various types, and their cost varies accordingly.
- Single Storey extensions; building these can cost you between $1350 – $2100 per square meter. Additional costs incurred would depend on floor area, design, and material.
- Two Storey extensions; would incur double the cost that is being extended towards the building of the single-storey extension, with similar conditions.
- Loft conversion; is also an upward extension; however, this can be pricey since the room has to be insulated, and other essentials need to be added to make space habitable. This type of extension house generally costs close to $1500 to $2500 per square meter.
- Basement conversion; this category of house extensions costs between $25,000 and $500,000. That is on the costlier end due to the excavation factor added to make space for downwards extension. Here, the contractor has also been conscientious not to damage the house’s structural integrity; they cannot work haphazardly and threaten the safety of the residents. Here, if one already has an excavated space for a cellar or basement, the expenses are brought down significantly, and you’ll only end up spending close to $20,000.
- Garage conversion; these are comparatively affordable, wherein house extension cost incurred is up to $20,000. That is because a garage that is already a well-built structure has a solid floor and foundation, with a roof and four walls—as a result, minimising the work or alterations that are required to make it livable.
These were the costs associated with extension houses based on the type of extension. However, one must also keep in mind certain standard expenses irrespective of the kind of extension planned. Standard irreplaceable house extension costs include heating, cooling, insulation, gas and piping, materials and designing. When you decide to invest in a house extension process, don’t forget to consider all the factors mentioned above.