“Do we opt for a home addition, or simply buy a new home?” This is a question many homeowners face. No matter the decision, both courses of action will ensure a sizeable amount of work and disruption to your daily life and can be costly.
Homeowners who opt to purchase a new home are usually looking for a fresh start, and have no qualms about leaving their current home behind. However, some homeowners are not as keen to start over with a new home and forego the home buying process for something different: Adding onto their existing home.
By opting for a home addition, a homeowner can reap many of the advantages of a new home, without sacrificing the existing home’s comforts that they have lovingly created over the years. For example, an addition will give a property a ‘new’ feel and create additional living space for a growing family; which is often the chief motivator behind the purchase of a new home, to begin with.
And, to top it off, a home addition also provides several other benefits.
New home additions give some you the freedom to create the room(s) of your dreams. Because let’s face it, no matter how far you search, it’s unlikely you’ll ever find a new home that matches your specifications to a tee. When adding or renovating your home, you have the freedom to tell your contractor exactly what you want and in most cases, they can deliver on your vision.
With television channels like HGTV and social platforms like Pinterest dominating the mainstream, many homeowners are realizing that they too can have the home of their dreams and are looking to add additions and complete renovation in the coming year. In a recent study, it was found that homeowners are looking to ramp up home improvement projects next year. And, kitchens remodels continue to be the most sought after renovation.
Here are some other popular home additions and renovations for 2017:
- Guest rooms
- Finishing basements
- Updating exteriors
- In-law suite
- Converting garages
- Covered/screened outdoor living
- Bathroom additions
- Adding a second floor
Saving You Money
Renovations can also be cost-effective in long run. Some investment specialists even say that a home addition can increase the value of a property dollar for dollar, thus recouping the entire cost of the addition and renovations when the owner finally decides to sell. But even if the market is such that an addition doesn’t completely increase a property’s value by its construction costs, it can pay for itself in several other ways.
An addition will increase the square footage of the property, adding valuable living space that has a worth all of its own. Then, there are the aesthetic properties of an addition or renovation such as adding beauty as well as function to a home.
An addition it can be just as pleasing from the outside as it is on the inside, and a skilled, custom home builder and contractor will design and create an addition that compliments the existing lines of a property so that the finished project looks cohesive and professional.
If you feel that you’ve outgrown your current home and are thinking of buying something new, perhaps it’s time to think again.