Expanding a house can sound tedious. However, it may be the right decision to ponder. Do you need the extra space for your family growing? Did you start a home-based business? Or do you simply want to create a more livable and stable environment?
There are a thousand reasons why an existing house space is just not big enough. House prices are usually high in many parts of Australia. And if you have outgrown your current house, adding and expanding the living space can easily become the more affordable option.
Here are some ways to increase square footage to your home:
Typically, ground floor extensions cost less than excavating basement space or adding a second storey. In fact, one of the most common house alterations in Australia is the expansion of the kitchen, dining or living spaces. These added extra spaces are called bump-outs.
A bump-out is a modest expansion that pushes the size of a room out for just a few feet. A kitchen bump-out, for instance, often does not rise to the size of a full room addition. They can be no deeper than 2 to 3 feet or they can extend as far as 15 feet from the house.
- Bump outs offer a number of advantages.
- Less expensive to build compared to a full room addition.
- Does not require an extra HVAC system.
- Often times, bump-outs have a shed-style or flat roofs. They do not require an extension of the existing roof.
- Blend seamlessly with the rest of the house.
According to statistics, the demand for granny flats house kits has seen a threefold growth in the past five years, especially in major cities like Sydney and Melbourne. Rising housing costs, an ageing community, and attempts to manage urban sprawl all contribute to the increasing popularity of these granny flats.
Aside from making an additional room, there are a number of other benefits of granny flats. For one, the right granny flat can have a positive impact on a property’s value. Expanding from a two-bedroom property to three bedrooms will enable you to relatively increase the price of the house should you decide to sell the property.
A granny flat also offers Australians, who primarily depend on their jobs for their salaries, a secondary source of income. Some studies have shown a 9% to 15% return of investments from these flats. Additionally, once rented out, you can take additional land tax benefits on them as an investment property.
Lastly, if renting it out is not an option, you can also use these structures for older family members or for your child who wants his or her first taste of freedom without buying a house.
The first two options are great for properties that are large enough to accommodate the additions. If you have a smaller lot, however, and cannot build out, you can build up. Raising the roof and looking at a second storey is an especially effective strategy in urban areas with little horizontal expansion opportunities.
Homeowners, however, should be prepared for disruptions throughout the construction process. According to Hi-Pages, most Australians pay between $1,850 to $3,300 per square meter for a second storey addition.
Expanding a house is a large project to undertake. It is important that proper and diligent planning be made to avoid costly regrets in the future. When a house becomes too small for you, you can either build up, bump out or get a granny flat.