If your home is starting to feel a little “bursting at the seams,” you’re likely faced with a big decision.Â
Do you go through the emotional and financial upheaval of selling up and finding a new place, or do you stay put and make your existing home fit your changing life?
The truth is, while browsing real estate listings might be tempting, staying and extending your home could be the smartest financial and lifestyle decision you’ll ever make. Instead of pouring money into agent fees and stamp duty, you can invest directly into the value and liveability of your existing home.
The ROI Conversation – A Smarter Financial Move
First, let’s consider the true cost of moving in today’s market.Â
You’ll likely face tens of thousands in stamp duty, a 2-3% real estate agent commission, and a host of other fees for solicitors and removalists.Â
All that money is spent while adding zero value to your new home.Â
Here’s a simple breakdown:
Cost of Moving (On a $1.2M Purchase) | Estimated Cost |
Stamp Duty | $50,000+ (Varies by state) |
Agent Commissions | $24,000 – $36,000 (2-3% of sale) |
Solicitor Fees | $2,500 – $4,000 |
Removalist Costs | $1,500 – $5,000 |
Total Transaction Cost | Up to $95,000+ |
By contrast, a well-planned extension is a direct investment that builds instant equity, boosting your property’s value by as much as 20%.Â
At Renovare, we help you maximise this significant return by designing an extension that adds space, significantly boosting your home’s appeal and functionality, while delivering a custom-built space that perfectly suits your lifestyle.
Strategic Extensions for Maximum ROI
But just adding space isn’t enough to get serious ROI—it has to be strategic!
At Renovare, we guarantee maximum value by guiding you through the critical decisions that ensure the highest possible return for your home. We assist you in selecting the precise type of extension that not only suits your block but also offers the greatest financial boost.
Here is how different structural extension types contribute to your property’s value:
Master Suite Extension
- Ideal for: Homeowners seeking a private retreat and maximum property value uplift.
- Value Focus: Instantly shifts your home into a higher buyer category (e.g., 3-bed/1-bath to 4-bed/2-bath). Adding a bedroom with a walk-in robe and ensuite delivers significant returns and makes the property highly competitive.
Single-Storey Extension
- Ideal for: Homes on large blocks with usable land.
- Value Focus: Excellent for creating highly desirable open-plan kitchen/living areas, which have been proven to deliver high returns on investment.
Second-Storey Addition
- Ideal for: Smaller blocks where you don’t want to lose outdoor space.
- Value Focus: Maximises floor area by adding multiple bedrooms and bathrooms simultaneously, the two spaces that deliver the most significant property value increase.
Lifting and Building Under
- Ideal for: ‘Queenslander’ style homes on stumps.
- Value Focus: Highly cost-effective way to double your usable space without major roof or foundation work, providing strong ROI for traditional property styles.
Granny Flat
- Ideal for: Creating a separate, self-contained dwelling for dual income or a dedicated retreat.
- Value Focus: Backed by Australian data, adding a quality granny flat can boost your property’s value by up to 30% (CoreLogic/Archistar) through increased resale price and significant rental income.
The Chermside West Example
In sought-after suburbs like Chermside, Wavell Heights, and Aspley, the financial difference between a standard 3-bed, 1-bath home and a fully extended 5-bed, 3-bath home can easily be $$500,000–$$1,000,000. This demonstrates the massive value of strategic renovation.
We put this principle into practice in Chermside West, where we transformed a 3-bedroom, 1-bathroom house into a 5-bedroom, 3-bathroom home through a large extension and renovation. The client invested around $800,000 in the project, but the resulting property value increase gave them at a MINIMUM an even, and likely a very positive, return on investment.
A crucial design element was the secondary bar/convertible kitchen, which enables future dual occupancy and instantly creates an asset with a potential extra income stream.
Our 3-Step Process
The fear of a messy, drawn-out renovation is a major reason many people choose to move. We understand that worry. That’s why we’ve designed our entire business around a proven, simple 3-step process: Concept, Approval, Build.
This framework is our strongest selling tool, designed to give you peace of mind and ensure your project stays on time, on budget, and to the highest standard.
Let us explain:
1. Concept: This is where we bring your vision to life. Our team works with you to understand your needs and lifestyle, crafting a clever, customised design that not only adds space but enhances the way you live.
2. Approval: With our “Local Angle,” our experts have an intimate understanding of community and council requirements. We guide you through the approvals process with total transparency, demystifying the bureaucracy and making it seamless.
3. Build: This is where our “trusted hands” take over. Our exceptional licensed and local builders execute the project with skill and precision, using only the best materials backed by Australian warranties. Our smart project management keeps you informed at every step.
Addressing Your Top Fears
We know that a large-scale renovation comes with a unique set of worries. At Renovare, we believe in clarity and peace of mind throughout the entire process. Here’s how we address your biggest fears head-on:
“What if the budget gets out of control?”
Our “smart project management” and fixed-price contracts provide total transparency. We help you make informed decisions from the outset, so you know exactly what to expect financially, with no hidden surprises.
“Will we be kept in the loop?”
Our “client-first approach” means clear and open communication is our priority. Our team is passionate about ensuring the process is enjoyable and you are involved and well-communicated with during each stage of your exciting dream home being built.
“What if our builder goes broke?”
This is a very real and valid fear, especially in a market where builders have made headlines for financial instability. With over 3,000 construction insolvencies in the past year, we understand your concern. Renovare’s established business and solid liquidity give you the security of working with a financially stable partner who is here for the long haul. We’ve weathered the challenges of supply chain issues and rising costs, continuing to serve our clients and bring their visions to life.
“How will we manage the timeline?”
A clear schedule and consistent communication are non-negotiable for us. We set realistic milestones and keep you informed at every stage, so you are never left guessing about the project’s progress.
Get A Life-Changing Home!
At Renovare, we help homeowners fall in love with their existing homes all over again. We’ve seen firsthand how a strategic, high-end extension can be a life-changer, not just for your family, but for your financial future.
If you’re ready to start this life-changing project, talk to our Renovare house extensions experts today.
With local builders serving communities throughout Queensland, New South Wales, and Victoria, we’re ready to show you how simple it can be. Contact Renovare today to book your free consultation on 1300 049 516.