Many property owners are faced with the decision to either add extensions to their existing property or to sell and purchase a larger home elsewhere. This decision will be made easier if you consider answers to the following questions:
– Are you completely happy with the home and the locality? – Will the proposed extension appeal to others, if you decide to sell later? – Will the proposed extension add value to your property commensurate to its cost? – Is the necessary finance readily available at a low interest rate? – Will your local council approve the alterations you propose? – Will the alterations involve costly plumbing, or require sewer lines to be re-sited? – Is there ready access for your builder to carry out the additions?
Will the completed extensions have architectural appeal or detract from the existing building design? Your RE/MAX agent will be able to provide guidance and answers to many of these questions. A local builder and an officer of the local council building department in your area will also be able to provide additional advice.
It is also wise to check out the availability of other homes for sale with the accommodation you require and check the values of these against your present home’s worth plus the cost of the additions you propose. You may well find that it is cheaper to sell and repurchase a larger home in the area, thus avoiding the hassle and inconvenience that usually occurs during the building process.