When it comes to home renovation, do you tend to think small? Or do you think big? Projects of any size can be fun and rewarding, but let’s face it: Those big projects are often the most attractive and desirable.
Perhaps the biggest renovation project of them all is the home addition, which involves a brand new construction “added on” to the existing house. If you’ve ever been frustrated by the limitations of your home, a new addition can be just the thing to transform your lifestyle and boost your market value. Here are three of the main reasons to consider an addition to your home in the near future.
1. It might not be as expensive as you think
According to HomeAdvisor, the average American pays about $200 per square foot for home additions. It’s important to realize, however, that these costs will depend heavily on what materials are used and what level of contractor you’re dealing with. If it’s a high-level contractor with a solid reputation, you should see the cost go up drastically. Reputable renovators know the importance of value, and staying within budget. They’re used to working within the budget of a client in order to deliver a result that exceeds expectations without breaking the bank.
2. Extra living space
This is a big one. New additions create more living space in your home, regardless of how you’re planning on using the addition. It might be a new bedroom, bathroom, or even a bump-out three-season porch. Whatever the case, you and your family will have more room to spread out and enjoy life at home. The lifestyle benefits of home additions are among the most important reasons to consider such a project.
3. Better property statistics
Depending on the average home size in your neighborhood, adding on can be a very good thing for your property value. Even if you don’t plan to sell your home in the near future, increased value is an excellent way to improve your mortgage and financing options. For instance, if the average home in your neighborhood has 4 bedrooms, but your property has only 3 bedrooms, adding an extra bedroom can have a significant effect on how the real estate market sees your home. On the other hand, homes that exceed average neighborhood statistics are sometimes less desirable.
Where to turn for more information
The Internet is full of information on home remodeling, and frankly, not all of it is trustworthy. One way to ensure you’re getting the best advice is to find a reputable contractor who specializes in home additions. You should be able to solicit information and advice about your project, and obtain a reliable bid on how much the contractor would charge to do the work. Home additions are one of the most exciting projects a homeowner can embark upon; but they’re also a significant investment and must be done in a meticulous and deliberate way. The more thought and time you put into planning your addition and choosing a professional to do the work, the better your final result will generally be.