Residential Estate prices have been soaring sky high and getting a new property can be quite costly. Aside from the burden on the mortgage, you also need to deal with stamp duty. In Sydney, the stamp duty for a $1 million home could cost up to $41,000.
Setting up a new home is no longer as appealing when you calculate what you stand to lose. Thus, a home extension has become a go-to solution for families who want more room without actually moving to a new residence.
According to Robert Moerman, a Cape Cod Australian managing director of an extensions and home additions company, homeowners now want to make the most of what they’ve already got due to stamp duty costs.
Robert says that second additions are more prevalent now than ever. The rate of stamp duty has not changed, but the value of property certainly has and that’s adding a huge amount to the price of a new home.
A second storey addition could cost more than $40,000, plus an estimate putting an addition of 50sq m at about $120,000. This could get you 2 bedrooms with sitting room with an en-suite bathroom.
Thus, if one is considering investing in building up then it would be natural to want to maximize the amount of space you get above. It’s not every day you get the chance to rip off your roof, however when you do you need to think about the impact and cost of the environment around you. Utilising welded mesh panels to seperate the building site area from the home is one way to go about it.
Planning to build directly on top meter by meter could be disastrous. Conditions have been set for home extensions. Adherence to the conditions set by councils from Penrith to Bondi and everywhere is pertinent, with older suburbs the most stringent.
Robert says, If you look at suburbs like Bondi, there may be some homes which were built to the boundary in their time, but there is no way you can replicate that today. You have to work within the existing footprint, and then take into consideration shading on the neighbors and blocking out views. In Penrith for instance, those regulations haven’t changed to the same extent and you have more flexibility.
It is best to consult your local council first for the requirements before making plans. Once everything is checked then you can work out the details you want to add as well as setting up your budget. Robert says $120,000 may be enough for a second storey addition, however, if you want richer materials and finishes for a 50-oddsq, you might need to stretch your budget to $500,000.
When it comes to renovations and additions, it is best to do your homework and gird yourself. Remember, being forewarned is forearmed.
Depending on the original materials used for the ground floor combined with the condition of the home, a house may struggle with the weight of the additional second storey. However, engaging the best home renovation builders in melbourne would eliminate any problems.
Robert says that it is quite possible to even out about ten tonne over a 50sqm one storey home. 98 per cent of homes need nothing. The trick is to spread the load out and rarely would underpinning be required. You may need to put in steel posts with one extra pier, which isn’t a major drama.
Cape Cod offers services such as building a second storey according to your specifications as well as match what is originally on the first storey. Brick, being the most expensive material, alternative options are now available such as polystyrene and weatherboard and if your budget allows rock face, sandstone or Weathertex cladding and other commercial finishes.
Craig Smythe, owner of Adbuild Construction says that there are ways to minimize the cost such as prioritizing to keep the wet areas and services in one line. Having the lines run across the home would not only increase your bill but also be very challenging to set up.
The other thing to consider is electrical. Once you take the roof off the house the electrical cables and service pipes from the bathroom and air conditioning tubes will all be exposed so you have to waterproof the house as quickly as possible. This is achievable by putting on a heavy duty and durable custom tarpaulin that will remain up for the whole process.
Most families prefer to stay put during the disruptive period instead of spending on short time accommodation while waiting for the renovation to complete. Because most people stay in the house you have to make sure it’s a safe environment. You only have the Gyprock ceiling between the workers and the family below.
Craig says it could take about two to three months to complete a basic second storey addition including putting the roof structure on external sarking, downpipes and eaves.
He recommends that if you are planning for a home extension, then you should have all the trades locked in one after the other to finish the project smoothly.
If you are living in the house, it will feel like an eternity living with a work site above you. There is a lot of noise and a lot of dirt that you have to put up with and you want the process to be as quick and smooth as possible.
Craig explained that he had seen particle board flooring which was exposed to the elements for five months. You can do a moisture read to make sure it’s structurally sound, but you don’t want that flooring to be exposed for more than three months. Once the roof comes off, you want things to move as quickly as possible.
Craig relays that it could be uncomfortable working while there are people living below, but he takes it in stride. The good thing about them living there is that they can see the progress every day, and it’s like a marriage, we treat each other with respect. After the extension is in place you then get the exciting task of styling the home with the latest in timber or wire furniture, whatever is the style of the home.