Brisbane is a great place to raise a family, with warm weather, friendly neighbourhoods, and plenty of space to grow. But as your family expands, or your life situations change (you start working from home for example) your home may not seem as big as it once did. It may suddenly feel cramped like every corner is occupied and you might think: Should you extend your house or pack up and move to a bigger one? It’s a tough decision many Brisbane families face, but in this blog post, we’ll discuss the advantages and disadvantages of both extending your home and moving house to help guide you through the decision.
Advantages of Extending Your Home
Maintain Neighbourhood Ties
If you’ve already built a strong connection in your community, extending your house is a great way to maintain that close relationship with your neighbours and friends. You don’t have to adjust and start all over again in a new place. Having an intact connection with your neighbourhood provides a sense of stability for everyone in the family and it’s hard to put a price tag on that.
Personalised Design
Another advantage of extending your house is that you can personalise the design that matches your preferences and needs. You will have the creative freedom to make your home the way you want it to. Unlike moving into an existing home where you may struggle to find a layout that perfectly matches your requirements whether that be a quiet home office space or a spacious home gym or multiple living areas. You may find that if you move house you might have to compromise. An extension however allows you to create your dream space that perfectly suits your lifestyle and needs to a t.
Cost Savings
Moving to a new home can be expensive since you have to deal with removalist service fees, real estate fees in the sale of your existing home and then stamp duty on the new home you purchase, plus all the costs of setting up your new place. Depending on the area of Brisbane you live in and where you decide to move it may actually be more cost-effective to extend your current home. But by staying put and just extending your home, you can avoid all these costs and let you focus your budget on improving the current space.
Increase Property Value
Having a well-planned and well-designed house extension can add significant value to your property over time while making your home liveable for your family. If you’re looking into house extensions in Brisbane, you’ll find that it’s a great long-term investment for both comfort and property value. Adding more space and improving its functionality boosts your property’s appeal if you ever decide to sell or refinance in the future.
Disadvantages of Extending Your Home
Disruption to Daily Life
During the extension process, it will cause noise and inconvenience to everyone in the household. Construction can be messy which can affect your home environment. Depending on the complexity of the project, you might need to temporarily relocate which is an added expense. If you value peace and quiet, you should consider this downside.
Space Limitations
Depending on your lot size and zoning restrictions, there’s a possibility you can’t extend your home as much as you would like to. For example, if you’re living on a small block of land, there may not be enough space to build outwards and local Brisbane council regulations could prevent you from adding a second storey to your home. It’s better to consult with a professional house extension contractor to see whether your home is capable of extending outwards or upwards. It’s important to check Brisbane City Council’s guidelines to understand what’s possible.
High Renovation Costs
Extensions can be quite expensive as renovation costs can add up quickly especially if you encounter unexpected issues like structural repairs or design changes. The initial quote your contractor has given you might not cover hidden costs which can lead to budget blowouts. If you’re working with a tight budget, you need to determine whether you can cover unforeseen costs. Another option is to work with a builder that provides fixed-price contracts. They will do a thorough deep dive assessment into the current condition of the house and your extension and renovation design plans and provide a fixed-priced quote to execute the design. That way if hurdles appear during the process you won’t be out of pocket.
Time-frame
House extensions or renovations can take several months. The preliminary documentation part of a house extension which includes things like design plans, engineering, and applications to council can take several weeks alone. Once construction begins there might be delays due to bad weather or there are structural issues that need to be addressed which can extend the timeline of the project. All these factors can lead to the project taking longer than planned which means you’ll have to deal with the disruption for an extended period. Engaging a full-service builder, like us, that takes care of the entire process from design, documentation, and construction can streamline the house extension process and make it faster and simpler; however, you’ll need patience and flexibility to get through the process which may not suit everyone’s lifestyle.
Advantages of Moving
Instant Space
If you move to a new house, you’ll instantly get the space that you need. No need to wait for any renovation to finish– you just need to move to a home that meets your requirements. This is particularly beneficial for families who need space for their daily activities without any disruptions.
New Location Opportunities
Moving allows families to go into a neighbourhood that suits their needs and tastes. The old neighbourhood might not be their ideal place to live so moving to a new one could present them with better opportunities. Brisbane has many great suburbs you can choose from. From family-friendly neighbourhoods to vibrant community hubs, there’s a location that better fits your lifestyle and future plans.
Avoid Construction Hassles
Another advantage of moving is that you get to skip the hassles of a house extension and renovation. You won’t have to live in a construction zone or move out temporarily. Instead, you can just focus on settling in your new home and make it your own without having to worry about the challenges of an extension.
Disadvantages of Moving
Potentially Higher Upfront Costs
Moving house can entail a lot of expenses that can quickly add up. You need to think of real estate agent fees for when you sell your current home, possible capital gains tax, stamp duty on the new property, and the costs of hiring removalists to move all your belongings, plus all the myriad of extra small expenses that are associated with moving. If you’re moving to a more desirable suburb or a larger home, you might face higher property prices. These costs can make moving a more expensive option than extending.
Emotional Toll
Leaving behind a home that’s full of memories can be emotionally tough especially if you’ve lived in it for a long time. If your children have already settled in their current schools and have built strong friendships, leaving the area can be quite difficult. Moving can disrupt routines you’ve worked hard to set up and starting over again in a new place can be overwhelming.
Housing Market Uncertainty
The process of finding a new home that fits your needs and preferences can be a challenge, especially in the competitive areas in Brisbane where the median house price has increased over 50% since early 2020 in. You might lose out on bidding wars or miss out on homes that get sold quickly. In some instances, there’s also a risk of moving during a market dip that can affect the value of your current home’s value and impact your financial situation.
Time-consuming Process
Like a house extension process, moving is also quite a time-consuming process. You have to do house hunting, inspections, negotiations, and deal with paperwork. And it doesn’t end there, either. Once you find the right home, you’ll need to pack your things, coordinate the move, unpack, and settle into your new place. Compared to the convenience of staying put and extending, moving can actually take more time and energy for the whole family.
Key Factors to Consider Before Deciding
When trying to decide whether to extend or move, you have to consider several factors. Weighing these considerations can help you make the best choice for your family:
Cost Comparison
Both extending and moving come with their own costs, but in different ways. Either way, it’s important to get accurate estimates for both options so you can determine which one makes sense for your situation.
With house extensions, you’ll have to deal with construction costs, council approvals, design plans, engineering assessments and plans, and building certifications. So it’s essential to get a clear picture of house extension costs before making a decision. The exact cost of the extension will be determined by the type of home you want to have and the scope of work required to turn that vision into a reality. Do you want to add an extra bedroom with an ensuite, or do you want to add an entire second story to your home?
With moving, you need to deal with upfront expenses like real estate agent fees, stamp duty, and moving costs. The resale price of your home and the type of property and the prices of the suburb you wish to buy into will give you an indication of what your costs would be if you pursued this option.
Timeframes
Moving is a quicker solution if you can find the property that meets your needs since you can instantly move into a new space that already fits your lifestyle and needs. On the other hand, extending your home can take months. You’ll need to determine how well your family will be able to cope with the disruption for both of these options.
Family and Lifestyle Needs
Ask yourself: what matters most to your family? Staying in your current home is a good option especially if you and your family are satisfied with the neighbourhood. On the other hand, if your current location isn’t ideal anymore, moving could offer you a fresh start with the amenities and features that you need. Consider whether moving or extending will add value to your family’s daily life.
What’s Best For Your Family?
Deciding whether to extend your home or move to a new place is a tough decision to make, but understanding the pros and cons of both and determining your family’s needs and future plans can help you make an informed decision. Extending your home offers the benefits of staying in a familiar neighbourhood and customising your own space to suit your needs exactly, but it comes with disruptions and potentially higher costs. On the other hand, moving gives you instant access to more space and the opportunity for a fresh start, although it can come with higher upfront costs and the emotional toll of leaving your home.
Ultimately, the decision should depend on what’s right for your family. Take time to carefully evaluate your situation and consider both the emotional and financial aspects of each option. If you’re still unsure, it’s always a good idea to consult with a home extension builder who can provide a clearer idea of both the costs and expected time frame to extend your home so you can be better informed and make the best choice for your family’s future.
Contact us today to schedule a free onsite builders consultation and project estimate.
