Extending your home is a great way to add value and function to your property without the need for relocating. Whether you have a growing family, need additional storage space or want to convert your garage into a games room, home extensions are becoming an increasingly popular option for homeowners.
In this blog we explore the costs involved in home extensions and if it’s worth it in the long run.
There are a range of reasons to extend your home, including:
And much more! Extending rather than moving is a popular option because it means you can stay in your desired neighbourhood, avoid the costs of moving and tailor your home to your exact living preferences.
Several factors influence the cost of home extensions, including the extension's size, whether it's a ground or second-story addition, the design's complexity and the materials' quality. The choice between a basic or luxurious finish will affect the overall budget.
When it comes to costs, the average house extension ranges from $2000 - $4000 per square metre for ground-floor extensions and roughly 50% more for second-story extensions. That means an 80-square-metre extension ranges from around $160,000 to $320,000.
Extensions range from simple room conversions to multi-story additions. A few of the more common house extensions include:
Keep in mind, that specific extensions such as bathrooms and kitchens require additional plumbing and electrical work, influencing their overall cost.
As any homeowner knows, renovating or extending can be costly, so cutting costs where possible will help in the long run. We recommend:
Maximising the new space: Ensuring the new room or conversion adds maximum function and value to your home.
Exploring converting existing spaces: Changing the function of a room rather than adding a new one can significantly reduce costs.
Opt for budget-friendly materials and finishes: It’s no secret that luxury finishes and materials will impact costs. So where possible, use a budget-friendly option.
From an investment perspective, you need to weigh up the cost of the extensions against how much value it will add to your home. A well-thought-out extension could add between 5% - 20% to the overall value of your home, so it’s important to consider the costs to ensure you will still make a good return on your investment.
Yes, a well-executed extension can enhance both the functionality and market value of a home, making it an appealing option for many homeowners.
Structural modifications typically require council approvals and permits, including building and demolition permits, which should be factored into the project's budget. Working with a qualified and experienced builder will ensure you tick all the boxes when it comes to approvals and permits.
Choosing a reputable builder is crucial for the success of the project. You should verify the builder's qualifications, insurance and references, and ensure clear communication regarding expectations, timelines and costs.
The timeframe for completing a home extension will vary depending on the project's complexity, approval processes and the availability of materials and labour. You should discuss expected timeframes with your chosen builder before entering into an agreement.
Extending a home represents a significant financial commitment and requires careful planning and consideration. By understanding the factors that influence costs and the potential value added to the property, homeowners can make informed decisions that meet their needs and enhance their living space.
Home extensions are a great way to add value and function to your property, however it’s important to consider the costs involved and how much value it will add to your home's overall value.
By understanding the factors that influence the costs and the potential value increase, you can make an informed decision about modifying your home. To discuss your home extension requirements, get in touch with Coast Construct Co on the Gold Coast.
Written by Nathan Carr
Nathan is a fully licensed, qualified and insured builder with over a decade of industry experience. He and his team specialise in new builds, renovations and extensions and their expertise allows them to handle building projects of all shapes and sizes. Coast Construct Co are also Master Builder Members.
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