Making the decision to build an addition on your current home, move, or leave it how it is, is never an easy choice. It is important to weigh the pros and cons for your individual situation before going forth with something, as an addition is the biggest home remodeling purchase you will ever make.
There are many advantages to building an addition on your home. Firstly, there is a very high cost-value ratio. Studies show that typically, the entire cost of a mid-range two story addition will be recovered at the time of sale. In other words, the money you put into the addition, will be made back when selling the house. It is also much more affordable than purchasing an entire new home. Usually, it is cheaper to build an addition than buy a new house the size of your existing home plus the addition. The design and look of the addition will also be completely up to you. When buying a new house, there is no space you can claim as your own, unless it is a new construction and being built specifically how you want it.
There are also a few disadvantages to building an addition that should be considered. Although additions have great cost-value ratios compared to other renovation projects, it is possible that you may not get the entire cost back at the time of selling. It’s also important to prepare yourself for the actual construction once it starts happening. There will be noise, dust, and a lot of interaction with the contractor and work crews. A bigger space also increases the cost of utilities, and may reduce the size of your yard, unless you choose to build upwards rather than outwards.
If you are considering an addition on your home, please contact us. It is our goal to make the process go as smoothly and quickly as possible, while meeting your utmost expectations.