A larger house extension can add significant value and provide more space for work and living. Naturally, any added value to your house depends on your location, your property type, and how good your extension is. When weighing the cost of creating the new home, it's also necessary to consider the disruptions to your daily life from building the new house and any changes to your home structure.
How much does the extension cost?
Cost varies based on the amount of space required for your extension, the construction accessibility, ground and structural condition surrounding your home, and if you want to extend it one or two storeys. You should shop around and collect three separate quotations as builders can provide different costs. The basic cost of a house extension is between €2,000 to €2,500 per square foot.
How Much Value Does an Extension Add?
It depends on how big or how much space is required. When doing a valuation, estate agents generally consider bedrooms and bathrooms in addition to floor space. The survey found that house extension can boost your property value by as much as 23 per cent.
Best Extensions For Increasing House Value
Adding an extra room by converting your loft is a great way to extend your home and potentially increase its value. A loft conversion generally doesn’t require planning permission and can be quickly completed within 8-10 weeks.
A conservatory is a great way to add extra living space and value to your home. It can be used as an extra room, dining area, or even home office.
A double-storey extension can add significant value to your home, depending on the property's location and the build's quality.
A single-storey extension is less likely to add as much value to your home as a double-storey, but it can still be a worthwhile investment, mainly if the extra space is well-utilised.
A garage conversion can be a great way to add extra living space to your home without the expense and disruption of a major extension. In most cases, a garage conversion can be done relatively easily and cheaply, adding significant value to your property.
An additional bedroom is always a valuable addition to any home. Even if you don't have children who need their room, an extra bedroom can be used as a guest room. If you have an unused garage, converting it into a double bedroom can significantly add value to your property.
Things to Consider to Add Value with an Extension
Extension to your house can add a lot of value, but there are a few things you need to consider before starting the project.
Cost of the extension:
You need to ensure that the extension's cost is not more than the value it will add to your house. If it is, you are not adding value and extra space; you are just spending money.
You need to make sure that you get planning permission for your extension. If you don't, then you could end up having to take it down, and you could also be fined.
A number of building regulations will need to be adhered to when carrying out an extension. These include rules around the foundations, the structural elements of the extension, fire safety, electrical safety, drainage and more. Failure to comply with building regulations can result in a fine or even the demolition of the extension, so it is vital to make sure that you are familiar with the relevant rules before starting any work.
In most cases, you will need to obtain planning permission from your local authority before carrying out an extension. The requirements for planning permission can vary depending on the size and location of the extension, so it is essential to check with your local authority before starting any work.
The ceiling price is the maximum amount you can spend on an extension without reducing the value of your house. This is because if the extension costs more than the ceiling price, it will take longer to recoup the investment through increased sale value.
Alternatives To House Extension
If you're looking to add more space to your home but don't want to go the extension route, plenty of other options are available.
One popular alternative is to convert existing space in your home, such as a loft or basement, into additional living space. It can be a cost-effective way to add extra square footage, and it can also help to create a unique and inviting space that your family will love.
Another option is to build an addition to your home. It can be a great way to add extra space and give your home a new look. If you're unsure where to start, plenty of online resources and books can help you plan and design your perfect addition.
You could consider buying a larger home if you're looking for a more permanent solution. This can be a great option if you have the budget for it and can also allow you to move to a new neighbourhood or even a different city.