Adding a new room to your home can be quite a good investment, considering that it can provide your property with a boost in equity, extra rental income and many other advantages.
To reap the most benefits, however, you will need to be “smart” about it.
Let’s take a look at some tips on how to effectively build a new room for your home:
Do the Math
When conceived and executed properly, a home extension will increase the value of your home, but you will need to do some computations first, because it only benefits you if the numbers are right.
Look at property listings that share the same features with your property, such as land size, amenities, floor area and other related details.
Afterwards, compare the price difference between houses with more rooms and those that have fewer rooms. This will give you a glimpse as to how a new room will increase the value of your property, as well as the probable rental income that you can gain from it.
Make Sure Your New Room Will Comply With Regulations
Take note that building a new room means you need to comply with certain rules, such as The Building Code of Australia.
For example: a bedroom is required to follow specific requirements for ventilation, windows, floor space, ceiling height and other details. Accordingly, you will need to make sure that these requirements are met, in order to avoid any brushes with the law later on.
Assess Your Property
If you’re looking to add a new room, make sure your floor area has enough space to accommodate it. Otherwise, you might end up with a new room that won’t be able to deliver on what you’re aspiring for.
How much will you be spending for your new room? Do you plan to convert a larger room into two smaller ones? Or do you want to extend and modify your old rooms with a few minor tweaks?
In the end, the decision is all yours. Just remember to be smart in your choices and everything will be alright.
Do you want to introduce new home improvements with the help of a renowned Perth expert? Call (08) 9240 5888.