When your home starts to feel cramped, you might wonder if it’s time to move or find another solution. For many homeowners, adding a second storey to their house offers an attractive alternative to moving. But is this significant renovation worth the investment? Let’s explore the financial and lifestyle benefits of building upwards compared to buying a new home.
Financial Benefits of a Second Storey Extension
One of the biggest considerations when deciding on a second storey home addition is the cost. While it can be expensive, it’s often more affordable than buying a larger home in your desired area.
How Much Does It Cost to Build a Second Storey?
The cost of adding a second storey depends on several factors, including your location, the size of the extension, and the materials used. In Australia, prices typically range from $200,000 to $450,000, but this could vary. Factors such as plumbing, rewiring, and reinforcing the ground floor structure can also add to the expense.
Despite the high upfront cost, extending upwards can increase your property’s value significantly. In many cases, homeowners see a return on their investment when they sell their home. A larger, double-storey home appeals to a broader range of buyers and often fetches a higher sale price.
Cost Comparison: Moving vs Extending
Moving to a bigger house might seem like the easier option, but it comes with hidden expenses. Real estate agent fees, stamp duty, moving costs, and potential renovations to the new house can quickly add up. In contrast, investing in a second storey home addition allows you to stay in the area you love while enhancing your existing property.
Lifestyle Benefits of Adding a Second Storey
Financial advantages aside, there are many lifestyle perks to building upwards. Here’s how a second storey can improve your home life:
More Space Without Losing Your Garden
For families needing extra bedrooms or a dedicated workspace, adding a second storey is a smart solution. Unlike ground-floor extensions, building upwards doesn’t take away valuable outdoor space. You can maintain your garden, patio, or backyard while still gaining the extra room you need.
Customised Living Spaces
When you choose a second storey home addition, you have the freedom to design the new space to suit your lifestyle. Whether it’s a luxurious master suite, additional bedrooms for a growing family, or a home office, the layout is entirely up to you.
Avoid the Stress of Moving
Moving house can be a major upheaval. Packing up your belongings, finding a new home, and settling into an unfamiliar neighbourhood are all stressful tasks. By staying in your current home, you can avoid these hassles while still enjoying the benefits of a larger space.
Key Considerations Before Building Upwards
Before committing to a second storey extension, there are a few factors to think about:
- Council Approval: Adding a second storey often requires planning permission. Check local regulations to ensure your project complies.
- Structural Integrity: Your home’s foundation and lower floor need to be strong enough to support the additional weight. A professional inspection is essential.
- Temporary Disruption: Building upwards can take several months, and you might need to move out temporarily. Be prepared for some inconvenience during the construction phase.
FAQs
1. How much does it cost to build a second storey?
The cost varies but generally ranges between $200,000 and $450,000 in Australia. Factors like size, materials, and additional work such as plumbing and electrical upgrades will impact the final price.
2. How long does it take to add a second storey to a house?
Building a second storey typically takes 3–6 months, depending on the complexity of the project and weather conditions.
3. Do I need council approval for a second storey extension?
Yes, most second storey extensions require approval from your local council. A professional builder can help you navigate the planning process.
4. Will adding a second storey increase my home’s value?
In most cases, yes. A second storey can significantly boost your property’s value by adding more living space and making it more appealing to buyers.
5. Is building a second storey better than moving house?
It depends on your needs. If you love your current location and want to avoid the costs of moving, building upwards is often a better long-term investment.
A second storey home addition is a big decision, but it offers both financial and lifestyle benefits. While the upfront costs can be high, the added space, increased property value, and ability to stay in your cherished neighbourhood often make it worth the investment. Before diving in, consult with a professional builder to understand the costs and requirements specific to your home. With proper planning, a second storey extension can transform your living space and improve your quality of life for years to come.