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 A Quick Guide to Home Extensions

A Quick Guide to Home Extensions

You may find that your family is growing and your current three-bedroom house no longer suits the needs of your family. So you want to extend your home and add a room or two. Or maybe add another bathroom or extend the size your small kitchen.

If you and your family love the location you’re currently living in, then a home renovation is an ideal option since there’s no need to move. A home extension can be a cheaper alternative to buying and moving to a larger house.

Now the question is, how much does it cost to add an extension to your home?

There’s no one-size-fits-all answer as to how much a home extension costs. But typically, an 80 square metre first floor extension costs between $160,000 and $300,000. Of course, this will depend upon the quality, design and level of inclusions.

The most expensive rooms to renovate or extend are kitchens and bathrooms. A kitchen extension can range from around $14,000 to over $40,000. While a standard bathroom extension can cost $10,000 to $30,000 depending on the fixtures, finishes, and quality of construction.

If you’re adding just a basic room, then this is the cheapest to renovate because you are only adding walls, roof and floor. If you’re looking to add around 9-12 square metres, this can cost $1,000-$2,500 per square metre. Renovating on the second floor can be more expensive and cost an additional 30% to 50%.

There are plenty of other factors that affect the true cost of a building extension such as the size, building materials, construction methods, labour costs, amount of excavation, any demolition works, the foundations and soil type, the age and condition of the house.

The number and quality of doors, windows, and floors will also have a major impact on your budget including the fixtures and finishes if you’re renovating a kitchen or bathroom. If you need the services of an architectect, then this will add an additional 10% to 20% to your budget.

Make sure you get the right funding when extending your home. A construction loan may be the right way to finance your renovation project. Check out our construction loan products to get you started today.

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