Wednesday, June 24, 2015

Here we go again

It seems to be a common occurrence on this blog, but once again it's been a long time between drinks (posts) as life gets in the way and other priorities take over. It's a bit like eating a cake and the cake is good, but if you swig a can of coke, the sugar overload hits you and in the haze of it all you realize you've forgotten to eat more cake. It's a bit kind of like that here on the PIIA blog.

Anyway. Today I am going to discuss extensions. We are living somewhat cramped (but happily) in our little three bedroom, one bathroom, one living area, one carport, 600m square block little 'shack'. It's cramped, I won't lie. So the conversation with the minister for finance turns to (well, I turn it to...) the possibility of extending the house back into the yard so we have an extra two rooms, an additional living area and another bathroom. This would make it a 5 bedroom, two bathroom home. Cost? Let's say $40K-ish. For us, that's a lot of money. The funny thing is, we don't need to come up with 40K because it's sitting there nicely in equity which we could just access. What it does mean, is approximately $40/week extra in repayments. We can afford this right now.

So what's the issue sir? The counter argument that is continually proposed is that we shouldn't over-capitalise in our current suburb, which is the lovely, but somewhat negative-press-receiving Caboolture. And if I'm being honest, I use the term 'lovely' quite loosely. But it's, you know, OK.

Counter-Argument 2 takes the shape of inconvenience during construction. This I can buy, BUT, we have been through much much more WITHIN our home, so an EXTENSION should be alright considering there would only be a little bit of modification to the existing to open up the thoroughfares.

SO yeah, a stalemate of sorts. I can't help but think that the extension would easily increase the net value. Our house would be five bedrooms. five! Two living areas! Two! And for the sake of using another exclamation mark, two bathrooms! Two! So a completely larger and better house in almost every way, bar the reduction in backyard space, which is kind of whatevs.

To further augment my thoughts, I have recently seen and worked with a few little extensions via my company, Sunray Painters. It seems legit that people all over the place are putting some money towards their little homes to make them just a tad bit more livable.

More convincing to do before I give this one up I think.

1 comment:

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