What do you do when that once dream home becomes too small for the growing family?

 

A growing family can sometimes mean that the once “dream home” becomes a little tight on space as the first child becomes two, and then three, and so on.

 

Luckily, for those that own their own home, there are options that mean you don’t need to uproot everyone and move.

 

You can look to add an extension to your home, but there are a few things to keep in mind when, and if you do.

 

Weigh up how much an extension will cost you and how much value it will add to your property.

 

For example, extending a 2-bedroom home to a 3-bedroom home can do wonders for the value of your property.

 

But this can also be dependent on the area, the age of your home and demand for the new format as to how beneficial the extension can be, so a key point to consider is the return on your investment.

 

How long will an extension make the property suitable to your needs?

 

You should consider whether adding additional rooms to your property will solve your problem, or whether it will just delay the inevitable issue of that property is no longer right for you.

 

Be careful as a short-term solution may mean you over-capitalise on the property and ultimately lose money.

 

Your stage of life and lifestyle will help to dictate what the answer is, so be sure to consider this in the decision-making process.

 

Can you get council approval for the extension?

 

There is always the consideration of if the council will allow you to extend. There are strict regulations on extensions, home positioning, and on how high you can build, so be sure to consult with your local council to make sure it will be allowed first.

 

Are you able to manage the interruption that will occur if you do go ahead with an extension?

 

Often people overlook the inconvenience that comes from having builders working in and around their homes. The noise, the dirt and dust, and having whole areas of their house unusable for a period of time, not to mention the cash flow implications for your household when building on.

 

So, take the time to carefully consider whether an extension to your existing property is the right move for you and if it will solve all your problems before you rush into it.

 

Also, don’t be afraid to make the hard decision and consider a move to a new dream home, as with change comes the opportunity for new dreams to be created, and for the next chapter to be even greater than the last.