Browse Forums Renovation + Home Improvement 1 Jan 07, 2014 8:07 pm Does doing an extension add value to the property at an equal rate to the cost of the extension (e.g. if you put a second storey on and then sold the house would you recoup the cost of the extension or only get back 50 cents in the dollar)? Re: Extensions adding value to property 2Jan 07, 2014 9:05 pm it depends on so many factors. Recently moved to a 60's home in need of some improvement! http://s797.photobucket.com/user/leenii ... ch%20House Old house: http://s797.photobucket.com/albums/yy25 ... loo/House/ Re: Extensions adding value to property 3Jan 07, 2014 9:29 pm For something like what you sound to be looking for it can be cheaper to knock down and rebuild! Best thing is talk to local real estate agents. The Harder You Try - the Luckier You Get ! Web site http://www.anewhouse.com.au Informative, Amusing, and Opinionated Blog - Over 600 posts on all aspects of building a new house. Re: Extensions adding value to property 4Jan 08, 2014 5:31 am As leni says .. it depends on so many factors but one thing you can say is the older the house the less its value while land value most always increases. A home is like any other commodity it devalues over time. Re: Extensions adding value to property 5Jan 08, 2014 12:46 pm As leni says. It depends a lot on where you live, what style your existing house is and whether you can integrate the extension on to look seamless or not, how big the existing house is already etc. A good guide is to see what local home are going for and compare yours ( lets say a three bedder ) to one that is five bedrooms or has four with an office or second living space. I have a good friend that is a real estate agent and he said to me a few years ago that spending wisely $200,000 on an extension and maybe capitalising on some views would add $300,000+ to the value of the property. By spending wisely he means a good design in keeping with the existing house and not being extravagant with finishes etc Stewie Re: Extensions adding value to property 6Jan 20, 2014 7:39 am I hope so anyway! We are in the process of gutting our californian bungalow and building a double storey extension. I think it depends on the style of the house and the area it is in. I know in our area (inner Melbourne) in many cases renovated and extended houses are more in demand than new. Sometimes the new houses lack character (obviously depends on the house). Personally, I love that inner Melbourne has so many terrace houses, californian bungalows and Victorian style properties. In our area (not our street luckily), we have heritage overlays so in many cases people don't really have a choice but to extend/ renovate anyway. http://chasingcoconut.blogspot.com.au/ As a tradesmen get a private inspector although I don't think there worth it in their profession themselves the reminder they serve to the tradesmen doing the work is… 3 28014 They make the room much easier to clean for one, reflect more light (if light colour tiles are used), and you dont end up with dust on the top edge of tiles (cause most… 3 10142 The last home I lived in didn't have a pool and when i went to sell it the agents were not happy, even telling me to put one in to sell the place. The agents weren't happy… 2 4676 |