Your house may start out the perfect size. But as your family grows, that perfect space may become cramped. Two children and three furry friends later and you start to feel like that house that you thought was large feels like a matchbox. If that’s the case, you don’t have to start looking for a new home, though that might be your first thought. Before you make a major decision like supplanting your family and finding a whole new neighborhood and home, consider a home addition. Home additions are a great way to expand your living space without having to move or spend too much money.
Benefits of Home Additions
There are many benefits to home additions, whether you’re feeling cramped in your space or you just want to have an extra room that you’ve always desired. Here are 3 major benefits of home additions:
1. Increased Space
This is an obvious one. When you add an addition to your home, you get increased livable space. Who doesn’t want more space? There’s always room for more, well, room. If you do not want a bedroom, you could consider options such as a sunroom, a mudroom, or even a second kitchen if you have multiple cooks in the house. The possibilities are almost endless!
2. Increased Home Value
The bigger your home, the more money a buyer is willing to pay for it. That’s why most home improvement or expansion projects offer a high return on investment (ROI). The more attractive and spacious your property is, the more likely you are going to attract people with a sale, especially in a market where many homes are not worth what owners want for them.
3. Cheaper Than Purchasing a New Home
Buying a home is a huge investment. Depending on what size you need, you could end up paying $500,000 or more! Not only that, but you are also then stuck with a big, long-term commitment. Unless you can purchase your home outright, which is not a possibility for most homeowners, you’re going to be stuck with a lengthy mortgage. 30 years is a long time to be in debt. That’s why choosing a home addition is often a better choice if you are happy with your property but just need a little extra room.
Costs of Home Additions
Home additions vary in price based on what materials you choose, where you live, the size of your new room, and if you are adding more than one room. Typically, you can expect to pay between $20,835 and $72,552. The average cost of a home addition is $46,498.
Types of Home Additions
There are different types of home additions. Which you choose depends on your budget and how much yard space you have to work with. Here are three common types of home additions:
1. Bump Out Home Additions
Bump out home additions are for a single room. They are built onto the side or back of your home. These home additions are a great way to get space, but they do take up valuable yard space, meaning they aren’t always feasible or possible.
2. Second Story Additions
Don’t want to sacrifice your yard space or don’t have enough of it to use in the first place? That’s okay. A home addition is still possible! You can add a second story addition, building upward. instead of outward. However, this may not be a possibility if you have height restrictions in the area where you live or if your home’s foundation is not equipped for extra weight above it.
3. Conversion Additions
These are the least expensive home additions oftentimes. Instead of building out or up, you convert previously unlivable space into a room. Common places you might convert include attics, basements, and even garages!
Want to Know More About Home Additions? Consult Prime Remodeling!
Choosing a home addition is a big decision. You should consult contractors in your area to determine whether this project is within your budget, discuss what type of home addition you want, and what the timeline will be for completion. The team of expert designers and contractors at Prime Remodeling is available to help you with all of these factors. Contact us today for assistance with home additions!