Add an Extra Room

One of the most cost effective ways to increase the value of a home is by adding an extra room within your current floor plan. This is different to an extension which requires council consent, which whilst also being a good option to consider is more costly. This works well for older properties that haven’t optimised their layout and have dead spaces that could be easily converted.

How much will adding an extra room add value?

Typically, adding an extra room will increase the value of your property by at least $20,000. This is a great reason alone is a great reason to consider this option, whether you are looking to sell your home, or increase your equity. If it’s a rental property, you can expect to increase your rent by 15% because now you have a wider range of tenants to select from. A home with an additional room can provide more space for families, guests, or even a home office, making it a more desirable property for potential buyers or tenants.

Here are a 4 ways adding an extra room to your existing floor plan can increase your property's value:

1. Increased Square Footage

   The first and most obvious benefit of adding an extra bedroom to your home is the increased square footage. More square footage means more living space, and more living space is always a desirable feature for buyers. Additionally, the extra square footage can also help you command a higher price for your property when you sell it.

2. More Flexibility

   Another benefit of adding an extra bedroom to your home is the increased flexibility it provides. An extra bedroom can serve a variety of purposes, from a guest room to a home office, to a playroom for kids. This versatility is a major selling point for buyers and can add significant value to your property.

3. Increased Functionality

   Along with providing more flexibility, an extra bedroom can also increase the functionality of your home. For example, if you have a growing family, an extra bedroom can provide the much-needed space for a child's room or a nursery. Similarly, if you're planning on hosting guests regularly, an extra bedroom will provide them with a comfortable and private space to stay.

4. Improved Resale Value

   Finally, adding an extra bedroom to your home can greatly improve its resale value. A home with an additional bedroom is always in demand and can command a higher price on the real estate market. In fact, studies have shown that homes with an extra bedroom sell faster and for more money than homes without.

Adding an extra bedroom to your existing floor plan is a smart investment that can provide numerous benefits and increase the value of your home. Whether you're looking to sell your home soon or just want more living space, adding an extra bedroom is a wise choice that will pay off. If you want to explore this option, get in touch to see how we can help you add value.