Sell or Extend?

ACCOUNTANTS say it can make financial sense to reinvest in your home, than buying another – particularly if you are in a good suburb.

Agents agree, saying the value of property goes up by more than the sum of its parts when owners reinvest in extensions, kitchen and bathroom renovations, paint and flooring.  Coupled with the fact the tax office does not impose capital gains tax on an owner’s main place of residence, investing in your own home sometimes make more sense than buying another.

An extension has the potential to add the greatest value to your home, particularly if it creates a larger open-plan living area or increases the number of bedrooms.

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