April 4, 2021

Extending Vs Relocating Vs Custom Build The Pros & Cons

Every homeowner eventually has to face this dilemma; to upgrade to a larger property or extend the existing home and in this article, we take a look at the pluses and minuses for both options.

Extending your Existing Home

The Pros

  • You don’t have to leave the community.
  • You avoid the expenses of a property purchase and the relocation expenses.
  • The most cost-effective solution to the problem of needing extra living space.

The only question is whether you have the space to extend and if you do and like the area you live in, your best option is to add to the property in some way.

The Cons

The only real downside is that you might be limited as to how much you can extend, plus you will require planning permission.

Relocating to a Larger Property

The Pros

  • You are only limited by your own preferences.
  • A larger property will solve the space problem.
  • You can choose a property that is ideally suited to your lifestyle.

The Cons

  • The extra cost of selling, buying and relocating, which is significant.
  • Having to get to know new neighbours.

Of course, it is never going to be easy to find the right property, which can take quite some time, but for some, this is the best all-round solution.

Custom Build

The Pros

  • Design the home that best suits your lifestyle by commissioning a custom home builder in South Western Sydney who builds to the client’s specifications.
  • Smart home solutions using solar power; a new build is the perfect time to switch to clean and renewable solar energy.

When you make contact with a local custom builder, tell them your projected budget and see what they can come up with regarding design.

The Cons

  • A new build will likely be the most expensive alternative.
  • It will take time to construct a new house.

If you have the financial ability for a new build, this is the ideal solution, as you can design the property just as you would like it to be.

Conclusion

Of course, there are many variables to take into account and hopefully, this article helps you to weight up the pros and cons of all the alternatives. Take your time and evaluate each option and crunch the numbers to see what the total cost for each would be, then you are in a position to make an informed decision.