We’ve all flirted with the idea of a small home renovation in casual conversation with friends. Some of us would want to expand a small bedroom while others would want to make an outdated kitchen more airy and modern. Mention adding another story to your home, though, and most people will try talk you out of it. “It’s too expensive, too time-consuming, and you will be buried in paperwork!” they say. We’re here to tell you that adding another storey to your home is not the painful and arduous experience you would think it to be.
The biggest benefit that adding another storey to your home involves saving you money, and what you would have to pay to get the same amount of space in another area. Stamp duty is a reality for most buyers, and most Melbourne residents will know that the stamp duty charged to homeowners has increased by three percent when purchasing a second property. This increase in fees has led many residents to revisit the value of renting out a separate property for a long term income stream, and to look at other opportunities.
The surge in popularity of Airbnb has also lead to more and more Australians offering out parts of their homes for short-term rental. Research shows there are over 15 000 Airbnb listings in Sydney alone, which is double the amount that existed last year, with 75 000 Australian properties listed on the website in total.
While the exact legalities of short and long term rentals are always best discussed with a lawyer, adding a second floor to your home is a worthwhile investment that you won’t regret and one that doesn’t have to tie you up in red tape, especially if you consult with experts who are used to undertaking this kind of extension in Melbourne homes, such as Duncan Thompson Extensions extensions. A company like this will even take care of some of the legalities surrounding home extensions, such as pre-construction permits and planning approval, building permits, town planning approval, heritage overlay approval (for older homes), design and development overlay approvals and even dispensation protection.
If you have always wanted to add a second storey to your property but were scared off by the amount of red tape and paperwork involved, you now have an opportunity to get help from the beginning to the end of the process. What you do with your extension after it is built is up to you!
Related Tag: Second Storey Additions