Adding a home addition can be an attractive option for homeowners who want to get the space and functionality they need without moving. However, it may not automatically add value if you do not have sound financials or know what direction your market is headed in.
Additions can quickly add value to a home when the costs are kept in line. Whether you plan on making a substantial addition, renovating an existing space, or creating one from scratch, knowing these numbers will enable you to have a better idea of what your project might cost.
You might think that if you are adding square footage to your home, the return on investment will be higher because of more space. This is not always true! In fact, when renovations make homes larger than surrounding houses in a neighborhood they can actually go down in value due to this oversized feeling.
This will not likely be an issue with most homes near Colorado Springs but could cause you to reconsider adding a bathroom in the basement that makes your home one story taller than surrounding houses.
So, what are your plans for the next five years? If you’re not moving and need more space in your home then an addition might be a good idea, so if you love where you live now but want to make it nicer or bigger, why not just renovate!
Don’t plan on building that new room onto your house unless you’re going to stay there at least 5 years- after all “if” is never complete without its partner ‘when’.
1) Does A Home Addition Fit in With The Neighborhood?
Building an addition to your house may seem like a good idea now, but if you’re not careful it could end up being too much of a change for the neighborhood. If you live in starter home neighborhoods with first-time buyers and renters who are looking for moderate improvements over time, building an expansion on your current space might be less than ideal.
There is such little room to grow within that type of community. And after all the hard work has been done? Well then comes selling off what’s no longer needed; many homeowners find this can prove difficult due to lack of interest from potential buyers or even just having so few people interested in buying at all! It really depends on where exactly one lives.
2) Consider Self-Storage While The Remodel is in Progress
You will need to have a place to store items that are in the way of a new remodel. It might not seem like you will need extra space, but your contractor will need plenty of space to plan and build.
If you are renovating your kitchen for example and dealing with adding plumbing, wiring, or even a new layout, there’s no way to store the equipment for the remodel, as well as items that are currently located in your home.
You will want to accommodate your budgeting to include self-storage as part of the cost, based on the estimated completion time for a project of this magnitude.
3) Does your home addition go with the rest of the house?
When designing a home addition, it’s important to make sure that the new features match as closely as possible with what is already there. This can be difficult because of all the different siding options available and rooflines may need to change when adding on space for an attic or basement.
When you are considering additions or changes, make sure you look at the house as a whole and keep it consistent.
For homes with roofs that have gables, try to add on rooms with sloped ceilings that match the gable roof.
Aesthetics are paramount with additions to homes. The addition of a sleek glass and steel home in an area of Cape Cod bungalows might be visually jarring, but construction is more easily accepted when it matches the existing architecture or style for custom-designed houses.
4) Plan, Plan, and do More Planning
Designing an addition is a process of discovery. You’re not just going to sit down and know what you want, but rather the more time spent on it the clearer things will become. There are solutions to almost every construction challenge, so if there’s something about your desired design that doesn’t seem possible don’t let this stop you from exploring all avenues!
The first step in designing an addition is looking at your current home or space and determining what needs improvement- after doing this take some time for yourself before diving into sketching out any ideas because being completely objective can be difficult. If anything seems too challenging ask around or consult someone who deals with these types of projects regularly; they may have encountered obstacles similar to yours before!
There are many different ways to turn an idea into a reality, but the three most popular methods include building one large addition onto your home, adding on smaller projects, or remodeling the existing space.
5) Does your contractor have experience building your type of home addition?
If you’re looking to add a bedroom, bathroom, or another living space onto your home and are in need of an experienced contractor then don’t settle for the first one who comes along.
Choosing someone with experience building home additions like yours will ensure that they know how to avoid any potential pitfalls hidden inside those walls (asbestos insulation or inadequate trusses, for instance).
When you interview contractors, ask them to recommend a local designer or architect for the project. Whether the home addition needs planning commission approval is important because not all projects require it and if so, this could affect how quickly your construction can start!
Furthermore, whether a structural engineer is necessary to ensure that there are no issues with building code violations such as inadequate supports of adjacent structures should be determined before going any further.
The approximate project duration will provide homeowners an idea about when they’ll have their new space done while estimating costs allows people to know what budgeting may be needed beforehand.