There are many different reasons why people decide that their home either needs a renovation or extension. A person may decide that their residential property is in need of an aesthetic upgrade, improved functionality, or more living space. On the other hand, a homeowner may just be looking for a method to increase their home’s value. For this goal, either an extension or a renovation is a good idea, however, it doesn’t suit all goals.
Many homeowners struggle with determining whether a renovation or extension is the best option for them. This decision, while difficult, is exacerbated by the lack of knowledge and understanding about each service by homeowners. As each service is completely different, but their terms often used interchangeably, it’s important to differentiate between them so that homeowners can accurately determine their needs and request the appropriate service.
What is the difference between a renovation and an extension?
Both terms mean very different things, even though they are wrongly used interchangeably by many people.
A renovation is a process of improving, repairing, or upgrading an existing structure’s floorboards, ceilings, walls, furnishings, or whatever else they request/require.
An extension refers to extending the overall floor size of an existing property.
How do you know whether you need a renovation or an extension?
Admittedly, it can be quite difficult to determine what you need. In analyzing the definitions of each term, you may think that is quite simple to select which you need, however, for some homeowners, the choice is not as simple. Many goals are achievable with either service, making the choice of service a bit more complex.
In this article, we’ve identified 3 questions that will help you to come to the right decision about your service.
3 questions to help you decide between a renovation and extension
#1 Are you looking for the most affordable option?
If you’re on a tight budget, then you’re better off selecting renovation services. Extension service can get very expensive, especially if you require a lot of extra space, however, if you aren’t specifically after an extension to your floor size, then it’s best that opt for a renovation.
With a renovation, you can achieve a lot more for the price that you pay to simply extend your floor size. If you were initially interested in an increase in your floor space so that your function can be improved, you may still be able to achieve this under renovation. Builders will be able to knock down walls and adjust your current structure, without the added cost of an extension, to improve your space’s functionality.
#2 Do you need an extra room?
Many times when you require an extra room (e.g. outdoor dining area) or need to make a room larger (e.g. extend your living room space), it requires an extension. An extension is the only service that can increase the floor space of a specific room, or create enough floor space, without taking from your existing rooms, for an additional room in your home.
Bear in mind that if your home is built on a slope, extending will likely be more costly. You also have the option to vertically extend if you’re not interested in decreasing your yard space, however, this option is more expensive.
#3 Are you planning to sell soon after?
If you were considering renovating or extending your home with the intention of improving your property value so that you can increase your profits from the selling of your home in the very near future, then choosing to renovate is your best option.
If you are looking to sell in the near future, then bear in mind that extensions are lengthy and quite costly. Though they do significantly increase the value of your home, it’s not worth the inconvenience of having your home undergo major construction. It will likely be a few months before you are able to sell your home.
If you are willing to wait on the construction, or you are planning for the long-term, then you can comfortably choose to extend your home. A renovation of your home will increase its property value and be completed very quickly. Ensure that you weigh your options against your ultimate goal – selling your home for a profit.