If you have been contemplating moving house, you may be better off thinking about extending your living space instead. By making this type of improvement, you will not only add to your property’s value but you will also save on the sizable expenses involved in a removal.
Whilst it may sound idyllic to relocate to a new venue, reality sets in fast when you look at the costs that are involved in making such a decision. If you want to make a realistic change, it is always better to expand on what you already have.
Money That Is Well-Invested and Spent
When you add additional square metres to your living area, you automatically make your home more aesthetic and valuable. Therefore, any money that you borrow for this type of home upgrade is money that is well invested and spent. Plus, you do not have to go to great lengths to renovate your property. You can make an alteration that is reasonable and that improves your home’s appearance economically.
Types of Home Extensions
According to research, most homeowners in Australia opted for renovation work when making improvements whilst painting was involved in some of the changes as well. Money was also spent towards making upgrades to electrical lines and plumbing systems. Some homeowners either redecorated a current living area or poured most of their money into such Perth extensions as solariums, bedrooms, or home offices.
What the Statistics Revealed
In fact, based on data from 2016, about 2.2 million homeowners in Australia spent around $5,000 each on extending their homes. Extensions were made by about one-fourth of the survey group who had been living in their current residences for less than a year.
People Who Live in Their Homes Longer Spend More Money
Many people who have been living in their current homes for over five years paid even more for their home transformations. However, the percentage in this category was around 15%, which shows that newly installed homeowners are seeing the wisdom early of improving the looks of their houses.
Comparing the Overall Costs
If you are planning on expanding your family or you want to make the most of your real estate, it pays to associate with a builder who can assist you in realising your dreams. How long you have lived in your home does not matter. What matters is what you are paying to make an improvement that will ultimately benefit you financially. If you compare the costs of a removal with the costs of making upgrades, you will see that it is more prudent to stay at your current residence.
Set up a Consultation and Discuss Your Renovation Plans Today
Take time to assess what improvements you could facilitate to make your home more desirable in terms of décor and price. By working with an experienced building contractor, you can come up with a renovation plan that you can gradually develop and that will permit you to increase your home’s value and make it a property in which you will be proud to reside.