For homeowners looking to expand their living space, a double-storey extension is an attractive option. It provides additional rooms without encroaching too much on garden space, offers flexibility for growing families, and can significantly enhance a home’s functionality. But as with any major renovation, the question remains: is it worth the investment?
If you’re a building company, your clients may often weigh cost against value when deciding whether to proceed with a double-storey extension. Here's how to guide them through this crucial decision.
The Costs of a Double-Storey Extension
Double-storey extensions are a significant investment, and it’s essential for clients to understand the factors influencing the total cost:
Size and Layout The larger the extension, the higher the price tag. However, since a double-storey extension utilizes the same foundation and roof for both floors, it can offer better value per square meter compared to single-storey projects.
Materials High-quality materials can elevate the final look and longevity of the extension but come at a premium. Clients may need to balance aesthetics with practicality.
Finishes Fixtures, fittings, and finishes can dramatically influence costs. Luxury features like underfloor heating or bespoke cabinetry may require a larger budget.
Professional Services Building companies, architects, and structural engineers are vital to ensuring the project is safe, functional, and aligned with regulations. These services are a necessary expense that can’t be overlooked.
Planning Permissions and Building Regulations While not always a direct cost, delays or complications in approvals can increase the timeline and budget for the project.
The Value of a Double-Storey Extension
While the upfront cost may seem daunting, the potential value a double-storey extension can add to a property often outweighs the expense. Here’s how:
Increased Property Value A well-designed extension can boost a home’s market value by as much as 15-20%, especially in areas where space is at a premium. For homeowners planning to sell in the future, this can provide a substantial return on investment.
Enhanced Living Space More space can dramatically improve the homeowner's lifestyle, accommodating growing families, home offices, or entertainment areas. Unlike a single-storey extension, a double-storey design provides multiple versatile spaces.
Energy Efficiency Upgrades Modern extensions often incorporate energy-efficient features, like better insulation or double-glazed windows. These upgrades can reduce energy bills, offering long-term savings.
Avoiding Relocation Costs Moving to a larger home incurs costs like estate agent fees, stamp duty, and removal services. A double-storey extension allows homeowners to stay in their current location while achieving the space they need.
Factors to Consider Before Investing
When discussing cost vs. value with clients, ensure they’ve considered the following:
The Local Property Market Is the area likely to support the added value of the extension? In some cases, the cost of the work may exceed the potential increase in property value.
Budget and Financing Options Are the clients prepared for potential overruns in costs? Encouraging a realistic contingency fund can help mitigate stress.
Long-Term Goals If they plan to live in the property for the foreseeable future, the lifestyle benefits may outweigh the financial return.
Conclusion
A double-storey extension is a significant investment, but when done thoughtfully, it can deliver incredible value. For homeowners seeking to enhance their living space, increase their property value, or modernize their home, this type of project is often a worthwhile choice.
By educating your clients about the cost vs. value equation and delivering high-quality craftsmanship, your building company can position itself as the go-to expert for extensions that truly elevate homes.
Comments