Purchasing a new property comes with many advantages, but the most exciting aspect is seeing its future potential. For instance, you can decide to add a pool outside, a granny's cottage or an additional floor to accommodate your family's growing needs. 

With every extension comes various alterations that positively affect your home's resale value. The following are five home extensions that can add value to your property.

An Additional Floor

The ultimate home extension is a new floor, which significantly improves your property's value. Since this alteration is an expensive undertaking, it requires some degree of flexibility to be accomplished. You may need to look for a temporary home where you and your family can live during the renovation project. 

Compared to other home extensions, including a new floor is more rewarding. Two-storey homes come with additional bathrooms, bedrooms and living rooms. Furthermore, self-contained rooms can act as a supplementary source of income. 

Granny Cottage

A granny's cottage or flat is a separate, self-contained structure on your property that offers extra space to accommodate your family's growing needs. It can either be attached or detached from the main house. A granny's flat offers additional income in case you choose to rent it temporarily or long-term. Depending on the features you plan to include, the cost of a granny's cottage may vary.

A Home Offices

Many people across Australia are either working full-time or part-time while in the comfort of their homes. Therefore, it can be wise to invest in a home office extension. When designing your home office, consider a separate entrance from the living space, data cabling and a reliable internet connection. Adding an office extension to your home can significantly boost the overall value of your property.

Loft Conversion

A loft conversion is one of the most overlooked home extensions. A loft extension can be converted into a bedroom, entertainment space or even a second living room. Depending on your home's design, a loft conversion can provide significant returns and increase your home's value. 

A Deck/Terrace

An efficient deck offers practical entertainment space, and it's a sought-after feature on contemporary properties across Australia. Therefore, extending your home's entertainment space to the outdoors is a brilliant idea. You can also cover your deck entirely or partially to achieve an all-weather space conducive for different purposes.

Conclusion

Paying extra attention to these five home extensions can help you increase the value of your property. Whether you are planning to spend the rest of your life there or sell your property in future, these extensions are vital in unleashing your property's real potential.

For more information, contact a home extension contractor.