When it comes to owning a home, it only makes sense that you want to maximise the return on your property investment. This often means undertaking renovation, restoration or other property projects, which require time and money. It’s therefore understandable why many homeowners want to ensure they’re making the right choice. In this blog, we’ll take a look at why a second storey extension will provide better ROI.
While it’s true that it might be difficult to see exactly how much value your property will gain from a second storey extension, there are some immediate value-adds you can look forward to as soon as the project’s finished, which include:
- Doubling your floor space
- Getting access to great views
- Allowing for extra bed and bathrooms to be put in
- It makes your home more appealing to buyers
Compared to other renovation and extension projects, second storey extensions are not all that expensive. This is because you don’t have to lay a new foundation or make other major structural changes.
Gives you – and potential buyers – more choices
Seeing as a second storey extension will give you so much more living space, you can expect a lot of extra benefit, even if you’re not using the space. For example, if you ensure that the second story has its own access, you can rent it out via Airbnb, or just get a long-term renter – if you’re willing. If you live in a tourist-centric area, you can even rent out your second storey to friends and family, ensuring they get to enjoy a vacation, while you get some extra income.
Also, if you have children who are struggling to move out, a second storey is the perfect space to allow them to carry on in privacy while they save up to make their first deposit, without disturbing your day-to-day life.
What you’re also doing is appealing to a wider market, which now includes families who require extra living space.
If you are interested in getting a second storey extension, or want to find out what projects could be undertaken on your property, contact us anytime.