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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Woollahra Council Approves Lachlan Murdoch’s $11.6 Extension, Bellevue Hill

THE Woollahra Municipal Council earlier this month approved the $11.6 million renovation of a Bellevue Hill home, lodged by Channel Ten chairman Lachlan Murdoch (pictured, right) and his wife Sarah. The approval is subject to conditions designed to protect the views and privacy of neighbours (some of whose houses are pictured in the aerial image,

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