If moving is not an option or a possibility, but you desire more space, building an addition to your current home might be the next best thing. When building an addition, you get the best of both worlds – but it does come at a cost. The house addition is the single most expensive home remodeling purchase a homeowner will ever make. Before you contact a local contractor professional for a consultation, there are a few things to consider…
Cheaper than Buying New and Great High Cost-Value Ratio
There is no way to predict the real estate market, but some studies have shown that nearly all of the cost of a mid-range two-story addition may be recovered at the time of sale. It is typically cheaper to build an addition than to buy a new home with square footage equal to the space of your existing house plus addition. Closing costs to buy/sell only adds to that cost differential. Even though additions do offer the potential for higher cost-value ratios than other renovation projects, you still may not recover the full cost of the addition when you actually sell.
Peripheral Costs Increase
All that new space will come with a price. Not only will you have more windows to wash and additional gutters to clean, but more space means higher heating and cooling costs and increased property taxes. Just something to keep top-of-mind when considering a build vs. sale.
The Best Way to Add Space
When you really take a close look at the many ways to add space to your home, the best option is clearly the home addition…
- Sun Room – Sun rooms are sometimes considered poor investments as subsequent buyers may view them more as a liability than quality space. If you decide to invest into a fully conditioned sun room, you might as well just build what you really want–an addition.
- Finished Basements – A finished basement is certainly a viable space, but they tend to be gloomy with few or no windows. Plus, you are not adding any square footage by refinishing the basement. You are simply refurbishing the space you already have.
- Room Additions – A “room” addition is best described as a mini-house addition as you are only adding a “single” room. A true home addition is comprised of multiple rooms. While room additions are a cost-saving alternative to a full house additions, they still cause a disruption of your privacy and are of considerable financial cost.
Keep in mind – unless you are only adding a second story, you will lose previous yard space that can’t be recovered. This might be a significant consideration if you still have young children who play outdoors. If so, you may want to hold off building an addition until they have matured. Take note that the trend toward smaller yards continues as larger-sized homes envelop the majority of a lot.
Your Imagination at Work
You may have an older house, but building an addition and bringing new space into that home will make it feel new again. Few remodeling projects are as thrilling and creatively satisfying as working with the blank slate that addition-building affords you. Fire up your imagination and go for it! Talk to a design or contractor professional to discuss ideas and options.
It’s exciting to finally “break ground” on your addition. However, though well worth it in the end, the process can prove challenging. Get ready for multiple contractors and work crews around the house six days a week making lots of noise and creating lots of dust. Add to the mix your lack of privacy will be nil until the addition is complete. Just remember that this too shall pass. When the workers leave and the dust has cleared, your new addition will provide solace and privacy from the rest of the world. Now you have all the time you need to enjoy your new space.
Creativity makes all the difference in remodeling your home! Becraft Plus has vast experience creating new additions for customers.
Contact Us (301-929-3401) For a Free Consultation!
About Becraft Plus
Since 1989, Becraft Plus has provided customized design and construction services to customers in the Washington, D.C. area. We specialize in custom home building, additions and remodeling, and whole house renovations with a focus on creating living spaces that are tailored to the needs of our clients.
>> Learn More