Anyone ever EXTENDED their current house?

[PinkPalace]

thanks girls
it is a tiled roof - but i guess i need to lookinto it - i called the RE - trying to organise an inspection to show DH through.

salsa as you said not worth the pain of buying and selling in such a short period if time - wouldnt get much profit after fees and interest paid - so would be one or the other

i know i woul prefer the cheaper house so we dont have financial struggles

[*Ali*]

I guess it also depends one what sort of an extension you are after. We looked at having an extension put onto the house we are buying- we just looked at a games room/ extra bedroom size room and it was going to cost us about $30,000- this was for a hardiplank exterior, gyprock interior, all electrics, concrete floor etc which I dont think is to bad, to have a patio down with this we were looking at about another $5-8 k depending on type size etc. For us it is a better choice to by the smaller house now (is still 4 bed but tiny living space) and get the extension put on in a couple of years, rather than struggle to buy a bigger house now.

[Salsa]

so, do people usually pay for the extension by saving the $ needed or will banks lend for extensions fairly easily? Or does it just depend on case by case?

[Phteven]

We're thinking of getting a cape-cod extension so we get the extra space without losing any garden and our plan is to save for it.

[Rach75]

Salsa we had to get the bak out to do a re-valuation on ours, in our case we were lucky as we bought during a major slump and when we re-financed it was during boom period but yes generally case by case depends on valuatiosn in area, where you live etc

[~Raven~]

PP don't look at the cladding of the roof, rather if it's a conventional pitched or truss roof. Anything is possible in regards to renovating but $$$$ come into it big time if you want to pull down a wall that happens to be a major roof support.

[PinkPalace]

Well - i spoke with DH and he said it is a possibilty! so ooooh i am excited now (excited to get out of renting haha!)....
called the RE and they are going to try organise an inspection for us.. but they didnt ring back... oh now i hate the waiting game.. in case someone else jumps in first! :P

PP don't look at the cladding of the roof, rather if it's a conventional pitched or truss roof. Anything is possible in regards to renovating but $$$$ come into it big time if you want to pull down a wall that happens to be a major roof support.

Oh Raven - i have no idea lol! will need to look at it. whats the difference (can you give me an idiots guide on the difference... is it something i can see myself or do it need to have a report to know? which is the better one (easier one) to renovate.

Ali - that sounds good on price! i have no idea on renos so i would have to pay a builder to come out with us i guess to see what our options are. I suppose i could do that during the 5 day cooling off period????

Salsa - we would probably save or redraw money off the loan before we borrowed on equity. When we would plan on renovating would be 4-5 years ahead when i am working full time again and on double incomes.

Bron - what is a cape cod extension?

[Phteven]

A cape cod is putting an extra storey on the top - usually a bit smaller than the bottom story. They're generally not much more than a normal extension.

Don't worry about someone jumping in first on your house. There are lots of places on the market and if you miss out on one perfect house another perfect house will turn up.

Lots of the people who do building inspections are retired builders so you could pick their brains then.

[PinkPalace]

oh good point! i didnt think of that!

Yeah it isnt our 'dream home ' lol! but it had a good block and looks nice to live in - in our price range .

Rather than buying something that needs to be renovated inside as well if you know what i mean, :P

[Rach75]

most builders would come out and do a quote for you without having to pay as well