The Pros and Cons of Investing in An Extension

A home extension has become an increasingly popular choice for many homeowners looking to extend the amount of space in their home without the stress and hassle of moving. However, before you commit to such a hefty building project, it’s always worth weighing up the pros and cons.

Pro: Increase the value of your home

Home Extension
Home Extension
One of the main reasons that people decide to add an extension is so that they can, ultimately, increase the value of their home. If you have money saved up for a home project, an extension might be something you have in mind. Adding square footage to your property almost guarantees additional value, regardless of whether you’ve added an extra kitchen or bathroom or a more substantial double extension that’s required planning permission.

Con: Applying for planning permission

Anyone who’s applied for planning permission before can know how much of a hassle it can be. If your extension requires planning permission, it’s best to have this in place before you start your project as to avoid any potential issues down the line. You may find yourself feeling disappointed if any changes need to be made to your design and, in the worst case, paying even more money.

Pro: More choice to design your interiors

Interior Design
Interior Design
With a bespoke home extension, you’ll have a lot more choice about your design, shape and size, allowing you a lot more choice to play with your interiors. An extension may let you to have the open plan living space you’ve always dreamed of or an additional room in your home to use as a study or an extra bedroom. These days, extensions have moved away from blending in with your existing property, and people are looking for something more dramatic to make their home stand out. For example, extensions with modern roofs are now more sought after than ever before. If this is something you’re considering for your extension, look out for professional roofing services in Newcastle that can help you with your very own unique design.

Pro: Larger space for a growing family

Modern lifestyle changes mean that homes are becoming too small for growing families, particularly if we add into the mix the fact that many children are choosing to stay in their childhood home well into their 20’s. For that reason, an extension tends to be more viable option than moving. Most modern homes will allow for an extension by way of a basement or loft conversion or a room extension, and none of these will outweigh the cost of buying an entirely new house.

Con: Some types of extension may decrease the value of your property 

Home Extension
Home Extension
While a garage can provide you with another option for a conversion it could decrease the resale value of your home if you’re left with nowhere to park your car. The same goes for any extensions that you build that take away outdoor space.

Consideration: Can you afford an extension?

Your location and the level of demand for your property could make a huge difference to the financial implications of building an extension. If you live in a city with a high demand for housing, for example, the money you’ll spend on an extension will probably be well worth it. However, you always want to avoid spending a great deal on an extension that will only make your property harder to sell, even if you’re planning on living there for some time.

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