Dreaming of having more space or has life brought you more blessings than you have room for? What is it you are dreaming of in your home addition? Perhaps a larger family space for Friday night game night, or plenty of room for all of the family to celebrate holidays together?
Maybe your family has grown, especially the kids, and things like toys and baby equipment are no longer taking over. Instead, the kids are older and need some extra space for hanging out with their friends… or the kids are gone, and rather than downsizing, it is time to build a space for your hobbies and the things you enjoy.
A home addition may be a great choice for you and your family. As with any home improvement, it is best to weigh all of your options before making a decision. So, before you jump in too quickly, let’s discuss the pros and cons of a house addition.
Value – When done properly, house additions may increase your home’s market value, which could mean a higher listing price, if selling is in your future. You should always consider the cost of the renovation, including a permit, to be sure there will be a worthwhile ROI (return on investment) before jumping in.
Often building a home addition is less expensive (although not always) than selling your existing home and moving into a larger one. You will avoid real estate broker fees, state transfer taxes, and moving expenses.
But if you have been advised that your home will have greater selling potential with an increase in space and updating, it is certainly worth looking into a home addition. The less time on the market, the better. Always factor in your neighborhood, to be sure you don’t create such a high market value, that your home becomes over-priced for the neighborhood, when selling.
Location – So, you love your neighborhood, and the location of your home is perfect. You would rather not leave the area, but you have outgrown your current home. Location is everything and should be strongly considered.
Building a home addition enables you to keep your family in the same house and neighborhood. It also helps keep the family intact without the upheaval of moving, no need to change schools, and no leaving behind precious memories you have created in your home.
Space – Home additions can solve that dilemma, by creating a new space to improve your home and your lifestyle, without having to deal with listing your home, or moving. Imagine creating your dream home, without leaving your house.
Along with adding space, this is an opportunity to put your creative inspiration to work. You can customize an addition to fit your personal tastes and choose the exact materials and fixtures that you really want.
Cost Control– One nice aspect to a room addition is that you can control the cost of the project to fit your budget. By adding or subtracting features and conveniences one can raise or lower the cost. And the finishing touches and materials vary greatly allowing you to customize the project to your target price.
Disruptions – One obvious con of the house addition is simply the mess and inconvenience of the addition itself. Nothing worth having is ever easy, right? As with any renovation, there will be some inconvenience to deal with for the short term, while waiting to enjoy your home addition for the long term. It does need to be considered, though, because it is a reality. The dust and inconvenience of contractors running around your home can be frustrating but is well worth it to get that dream addition you have been waiting for. At Ace Construction & Remodeling Inc., we pride ourselves in keeping that dust and inconvenience to a minimum, so the process can be an exciting time. In the end, you will have more room to enjoy your home.
Depending on your addition plans, you may even temporarily loose the use of entire rooms. For example, if you are building a larger kitchen or redoing your entire kitchen it may render your existing kitchen unusable. And sometimes water or electricity will be shut off. The disruptions can be emotionally challenging for your family and cause additional stress for which you might not have been prepared.
Second Story -If you are planning on a second story home addition you should realize that it is likely you will need to vacate your home for the entire process. In addition, you may even need to put some of your furniture in storage to get it out of the way. This too can add to both the cost and the stress of completing a project.
Not Recovering Costs – Depending on your real estate marketing conditions you may not recover the cost of building the addition. The size and style of addition that you choose can have an impact, depending on many factors including the size and style of other homes in your neighborhood.
Also, the time frame for which you are choosing to sell can also impact your return on your investment. Selling shortly after an addition may be attractive to a buyer but may not always mean you recoup your costs. We suggest that in your planning stage, when trying to determine your budget and size of home additions, that you get a market analysis completed. It will help you determine the likelihood of covering your costs.
Losing Space – Most of the time, building an addition takes up more space on your lot. Giving up a portion of your lawn and yard space may not seem important, but still should be considered. Unless you are building a second story addition, you will likely be giving up yard space.
Permits – Many home additions require getting permits and the process can be difficult and possibly delay your project. The permits required for building projects sometimes vary depending on where you live. While some people try to get around this process and complete projects without permits, we strongly recommend against this. It almost always causes problems later on. Most of the time a home remodeling company like Ace Construction & Remodeling, Inc. can handle the permitting process for you, or at least point you in the right direction.
Cost Overruns – Sometimes costs can increase more than anticipated if not planned for properly. Making last minute changes or change orders once the project has begun can be very costly – more than if you had planned it that way from the beginning. So, it’s best not to have these at all, but inevitably they do pop up. Therefore, it is best to plan for a small contingency in your budgeting from the beginning.
Something to consider with any home addition, is the possible increase in your property taxes, due to the increased space and value. Always check with your city to see how that will affect you. One option, which of course also varies in different areas of the country, to offset those increased property taxes, is to create as much energy efficiency in your new house addition as possible. Consider things like energy efficient windows, and energy efficient HVAC (heating, ventilation, and air conditioning) systems, for possible tax breaks, and a break on your heating and cooling bills. Also, depending on where your home is located, and what kind of home additions you are investing in, you may consider solar panels, and energy saving insulation. Your professional contractor can help you with those important decisions.
If you are interested in greater market value, unique selling features, or more room to enjoy, then yes, considering a house addition is a great idea.
Whatever you need, at Ace Construction & Remodeling, Inc., we are here to answer all of your home addition questions. There is a lot to consider, and we can help you in making those decisions, big or small, and covering all of the bases, so you know exactly what you are getting into. We have been through it and understand the process can be overwhelming and even intimidating at times. That is why we highly recommend calling professionals, like ourselves, rather than tackling a huge investment, like a house addition, on your own. Our beautiful results, and happy customers, speak for themselves. In the end, you will finally have that extra space you have been dreaming of and added value to your home.
Please call or email us, and we will be happy to discuss your future home additions, and offer you a quote for our services. We look forward to hearing from you and being a part of making your dream home a reality.