As a homeowner, you may be at a crossroads with your existing home. Perhaps the family has outgrown the space, or you want to update the house to meet your current needs. Or, maybe you think it’s time for a change of scenery. Whatever is moving you, before you do anything, you should explore the option of adding a home addition.
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Are Home Additions a Good Investment?
There are multiple schools of thought about whether home additions are worth the investment. A home addition can undoubtedly increase your home’s resale value and provide much-needed extra living space. Many homeowners choose to make home additions with the specific intention of making their homes more valuable on the real estate market.
On the other hand, it’s typical for the return on investment (ROI) for home additions to vary, especially if the new addition is particular to your taste or needs. For instance, adding a full jacuzzi room may be less attractive to future homebuyers than it is to you.
Consider setting up a call or meeting with a local real estate agent or housing market expert. This way, you can get a handle on the market trends and make a more informed decision about whether a home addition is a good investment. They will know what kinds of additions are selling in your area and how much they typically add to a home’s resale value.
Other factors, including the current condition of your home, can affect whether a home addition is a good investment. For instance, if your home is in good condition, the real estate market is relatively tight, and you have no hurry to sell, making a home addition can provide the added space you need without causing any life-altering changes.
On the opposite, if your house needs significant repairs, it may be better to focus on fixing the items that need attention and then reconsider making an addition after the house is in good repair.
What’s The First Thing You Need to Do Before Adding an Addition to A House?
If you’ve decided that a home addition is the way to go, the first step is to consult with an architect. They can help you determine your project’s feasibility and help you plan and design the new space. Once you have a plan, you’ll need to obtain the proper permits from your local municipality before beginning any interior and exterior repairs and upgrades. After that, it’s time to start construction!
Popular uses for home additions include additional enclosed porches, sunrooms, bedrooms, bathrooms, home offices, sunrooms, in-law suites, and more. But, again, working with an experienced architect and contractor can bring your vision to life and create the perfect space for your needs.
With creativity and careful planning, a home addition can greatly add value to your home while providing the extra living space you need. Just be sure to research and consult with experts before taking the plunge.
This article is brought to you by Total Quality Construction, a home renovation company in Toledo, OH specializing in home additions.
