Currently own a three bedroom home, one living area, 360m2 block (built in 2018/19). We have been considering building a second story, which would turn the house into a four bedroom home, with a small study and a second living area. Have been quoted 170k. House as it currently stands is valued at 430k.
If we go ahead with this are we risking overcapitalising? Should we just look at building a whole new house?
Obviously now is the time to make the decision with the current grant!