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What extensions add the most value to a home?

What the best home extensions in Melbourne have in common

Are you thinking about extending your current home? Some homeowners create more space for a growing family or to upgrade their lifestyle, while others extend to add value to their property. A well-planned home extension can achieve both—by significantly improving your lifestyle while boosting your home’s resale value. Knowing what extensions add the most value to a home can ensure a home improvement project meets your lifestyle needs and adds value while being more cost effective than moving.

Renovate or relocate?

More Australians are choosing to renovate instead of relocating because the benefits of a home extension can far outweigh those of purchasing a new property. In a 2024 survey conducted by Compare the Market, 52% of Australians confirmed plans to update their properties within 12 months. 7% of these intend to add a new bedroom and 3% a new level. If your home no longer meets your needs, a well-designed extension could be the answer.

How to get the best value home extension

Not all extensions are equal. Whatever your vision for your home, the reality is that the builder you choose plays a big part in the end result. But before we fill you in on how to find a great builder, you need to be clear about your ‘why’. Your reason for renovating will impact design, costs, duration and the type of building experts required.

Before knocking down any walls it’s important to find out what will add value without over-capitalising. Our guide will help you maximise the value of your home extension, saving you time, money and stress.

More square metres, more value

Are you considering selling your property for more than its purchase price or making some extra money by renting out a section of your home? Expanding floor space, functionality and amenities is one of the quickest ways to increase the value. While the market value of your property will generally increase over time anyway, offering potential buyers extra space, more rooms or features that suit their lifestyle can often mean a higher asking price.

Refresh your space

Do you feel like you’re living in a time capsule? It’s normal to outgrow a home as your needs and lifestyle change. You may be happy with your current location, but need a bigger living or dining area to host family and friends, or a kitchen revamp to make meal preparation easier. Giving your home a facelift with a well-planned home renovation or extension is sometimes all it takes to fulfil your need for change, add comfort and increase value.

Make affordable changes

If you can’t decide whether to buy a new place with all the features you want or extend the home you already have, consider the costs and time involved for each scenario.

Moving to a new home

The total cost of buying a new property is more than the purchase price. Add on real estate agent and conveyancing fees, as well as government charges such as stamp duty and moving expenses. If you need to sell your current property before moving into the new one, you will have costs relating to the sale. There’s also the hassle of moving your belongings to the new house and settling into a new area.

Extending your existing home

A home extension with Spacemaker starts with an initial consultation where we discuss your vision, budget and the construction process. We then transform your ideas into a detailed plan to achieve the lifestyle changes you need so you can stay in the area you already know and love. The project plan includes budgets and a timeline so you know exactly what to expect. We keep you involved and updated at all stages, and our onsite project management ensures an efficient and low-stress building process.

Design your dream home

You may never find a house with the layout and all the features you’d like, so why not design it yourself? Rather than waste time searching for the perfect property that may not even exist, turn your current property into your dream home by adding the features you want. Well-crafted home extensions give you the freedom to create and expand immediately. In contrast, the costs of a new home may mean waiting before you can invest in any interior or exterior changes.

Five best value home extension ideas

If you need more space, consider one of these stylish, practical and functional home extensions that also adds value to your property.

1. Sunroom or conservatory extensions

Add lots of natural light and charm to your home with a sunroom that lets you enjoy warmth in winter. A conservatory extension means you could spend time under a virtually open sky with a glass roof and walls, enjoy sunlit lunches on hot days or watch the rain pour on winter nights. This could become your favourite room in the house!
Caulfield South renovation and first floor extension - office space upstairs

2. Attic or loft conversion

If you have the space and height, instantly add a home office, lounge or extra bedroom with an attic or loft conversion, while boosting your property value. This type of extension may have a shorter completion time than exterior extensions, so you can enjoy the benefits sooner.
A contemporary wooden home renovation in Caulfield South, Melbourne, was designed with premium wood by Spacemaker.

3. Second storey extension

We’ve built hundreds of Melbourne second storey extensions, so we know that a second storey extension will significantly improve your lifestyle and add value to your home. While building another floor can be a more complex project, you could double the size of your home, gain a stunning view, install a next-level staircase, or even add an upstairs balcony.

4. Side return extension

Why not try building outwards to take advantage of underused space? Treat yourself to a bedroom renovation, kitchen extension or an expanded living room. Even a small side return extension can make a big difference to the extra floor space available in your home. This ground-level update is usually a fast, more affordable way to increase the size and value of your home.

Caulfield South renovation and first floor extension - kitchen and outside area

5. An alfresco verandah

Do you need more space for entertaining? Think outdoor dining with friends, a bar or lounge area, a pizza oven or an outdoor kitchen with all the BBQ essentials! An alfresco verandah lets you enjoy an outdoor lifestyle, especially when you furnish it with seating, add screens for decoration and privacy or build a garden around it. It’s an attractive value-add for any home. 

How to find a great builder

The best home extensions result from an excellent collaboration between you and your builder. You don’t just need people who can do the work. You need a team that listens to your vision and accurately anticipates the advantages, disadvantages and the greater opportunities of your plans. Finding a great building partner is arguably the most critical part of your home update. Here’s how:

Get recommendations

Ask friends, family and neighbours to recommend builders who do the best home extensions and search for reviews that show if clients are happy with a company’s work. Seven out of 10 Spacemaker projects come from referrals and repeat clients, which should tell you a lot about our work and the relationships we’ve built. But don’t just take our word for it—read reviews from customers all over Melbourne.

Check credentials

Would you rather go with a newbie builder you found on Facebook or a HIA award-winning home builder well known for providing the best value home extensions, customised for homes in Melbourne? Ensure that the builders working on your home are experienced, reliable and abide by health, safety, council and environmental regulations.

Look at past projects

Not all builders will be the right fit for your plans. Research the best custom home extensions similar to the home improvements you are considering. This will give you a good idea about whether the builders of those projects can make your vision a reality.

Ask about business processes

Ensure your builder can give you a clear outline of all the steps in your building process from start to finish, complete with expected time frames. Building an extension can sometimes affect daily activities, affecting privacy and halting utilities like water and electricity, so you must know what to prepare for.

Get a detailed quote

Once we have conducted a detailed site investigation, we provide a fixed-rate quote for the total cost of your extension. This helps us ensure that our customers don’t incur any additional costs once a building contract has been drawn up. We stick to your budget and get creative with our resources.

Are you ready to extend your home in Melbourne?

A well-designed home extension can deliver additional living space, more flexibility as family needs change and potentially a higher resale value when it’s time to move on. Now that you know what extensions add the most value to a home, it’s time to create the home and lifestyle you have dreamed about.

The key to an excellent, low-stress and on-budget home extension is to partner with a trusted, experienced and reliable building team to guide you through the process. Book a home design consultation with Spacemaker today, and together we’ll turn your home into your happy place.

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