There are advantages and disadvantages linked to all three options. Finding a new location means you and your family will need to re-build their familiar network of friends and services. Costs associated with stamp duty, relocation, and legal fees should also be considered.
Building a new home may also disrupt your family’s normal routine for months as you find a place to live while the builders construct your new home. However building a new home removes the restrictions of your existing house and gives you the freedom to build your dream home.
A home extension allows you to maintain your current lifestyle without the major disruption of changing location. If you are seriously considering a house extension, it is a good idea to have your existing house valuated before you decide to go ahead. While there has been much cautionary advice regarding over-investing, some properties are actually under-invested in. It is more likely that your current house has the capacity to absorb the costs of the extension and you will recoup the cost in the next five to seven years. So it’s normally worth asking for builders quotes.
Owner builder home extensions can be a sure recipe for family conflict and stress. Choosing to work with a quality builder can lessen the impact on your family life, and maintain the harmony in your home.