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Should I Just Sell and Buy a New Home or Build an Extension on My Perth Home?

Mar 6, 2014

lady looking at two different replicator house

Often, people face a choice between a home extension or selling their Perth home in favour of buying a new one. A lot of factors go into this decision. Some people are better off in new homes and many are better off with a home extension and/or renovation. Home improvements such as these can enhance the value of a home and provide all of the space a growing family needs.

Factors for Buying a New Home

If it is necessary to relocate, then buying a new home is the obvious choice. This can be wanting to live closer to work, wanting your children to attend a better school, or just being tired of your neighbourhood.

If there is structural damage to your present home that will cause problems in the near future and render renovation or improvements too expensive to recoup your investment, even in the Perth market, buying a new home might be a better option.

Factors Against Buying a New Home

Buying a new home is a big, expensive undertaking. Compared to a home extension, there is a mountain of paperwork, permissions and fees in the process of selling one home and buying another. You have to pay off one mortgage and take out another one. There are fees involved in both.

Building a new home involves buying land, designing a home, arranging for builders, painters and numerous other vendors for various and necessary services. Meanwhile, your current home has to be ready to be shown to prospective buyers while you prepare your possessions for moving.

You are going to spend market price to buy a new home. That means a hefty down payment, which can be a problem for some.

Home Extensions, Renovations and Improvements in Perth

If you like your home, your neighbourhood and your schools, but just need more living space, a home extension makes a lot of sense. Many home extensions and renovations raise the market value of a home by as much or even more than they cost, especially in a market like Perth.

Call (08) 9240 5888 today and talk to Max at Next Level Extensions to learn how a home extension or renovation can enhance your Perth home.

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