To assist you with this exercise you need to establish the current value of your home. The Valuer General's assessment of your property is listed on your Rates Notice and also on some power bills. Local real estate agents are usually happy to give advice on values and prices in your area.
If you're not planning to move in the foreseeable future, however, don't worry too much about this aspect. The important issue is to make a considered decision with all the available information at the time.
The following is a checklist of the early considerations:
- Study the sketch or concept plan of your extension.
- Get preliminary approval for finance.
- Get preliminary advice from a building designer, architect, builder or engineer about the feasibility of your extension (especially if you are planning 2-storey additions or a roof conversion). This means the practical/structural issues and the likely costs of the project.
- Get advice from your local council for any restrictions or limitations. Most councils welcome the opportunity to give advice about proposed extensions and have information sheets available.
- Consider how your family will operate during the building process, assuming that it will cause some temporary practical challenges. Consider issues such as the expected weather during the building period.
- Decide whether to deal directly with a building designer, architect or builder to develop and prepare drawings and plans.
- Identify the builders who may be suitable for the project.
- Check with your house insurance provider to confirm that your policy can be extended to cover the building additions.
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