If you are considering expanding your home, there are certain things to bear in mind before beginning the process. It’s advisable to weigh pros and cons, as well as get any questions answered prior to undertaking such a project. Planning ahead will go a long way in avoiding budget overruns and getting the results you want.
We’ve compiled some pointers and suggestions for homeowners to consider before deciding on whether and what types of home additions to pursue.
1. Assess Your Real Needs
Home buyers may decide to purchase a home that doesn’t necessarily meet all their space requirements. There could be several reasons for this decision: location, school district, affordability are some. They purchase the home with the assumption that they will eventually add on to accommodate their growing family.
This can be a viable solution; however, before jumping in with both feet, it’s advisable to wait until you’ve lived in the home long enough to analyze your living arrangements. You may think it’s immediately obvious what type of addition you need, but it may take some time to experience the space and functionality to get the full picture.
For example, if you’re looking to expand your kitchen, think about what your priorities are. Do you want it to be more of a family gathering area for playing games, doing homework, etc.? Do you need a place to serve as a desk for computer work or paying bills? Are you looking for more storage or want a space more conducive to meal preparation? Answers to these questions will determine the extent and type of your addition.
Of course, you also need to project your plans on growing your family or taking in and caring for elderly relatives. However, these circumstances are not always obvious at the outset and may arise without a lot of notice. Those are completely different situations that require more immediate consideration.
2. Set a Budget
This step will likely be included in the previous one. Whether you believe you need a complete room addition to accommodate your needs or desires, you may not be able to afford that large of an investment. And even if you could budget the more extensive build-on, you may have other, more pressing priorities that need that money.
Other considerations when setting a budget for your home addition include:
Return on Investment
Will the addition add value to your home? Certain home additions and improvements, for example, kitchens and baths, will increase the property value of your home should you decide to sell. Full room additions are more costly than simple remodeling projects, so the ROI consideration is more important. You also need to consider the other homes in your neighborhood when deciding on an addition. For example, if you add an entire master suite and none of your neighbors have one in their homes, the return will likely be lower.
Lower Cost Options
As noted above, your needs could be met, at least partially, without getting a complete room addition. Using your existing space, you could remodel or reorganize areas in your home to achieve the requirements. Finishing the basement into a recreational area or den could be one option. Converting a spare bedroom into an office area is another. There are many possibilities.
Don’t forget that increasing the size of your home will add to your utility bills. Your property taxes will likely also climb, as the square footage and amenities increase.
The Enjoyment Factor
Even if the return on investment of your home addition isn’t the best, you should also weigh the pleasure you and your family receive from it. Many people simply want to enjoy the added space and improved functionality. If you plan to live in the home for a while, the personal pleasure gained can be worth it.
3. Stress and Chaos
Any home addition or remodel will cause an inconvenience to your everyday life. This can cause stress and require adjustments to the way you live. But remember, it’s a temporary situation and the results will be worth it in the long run.
The stress will be lessened by working with a professional contractor who is experienced in constructing room additions with minimal disruptions. By working with skilled reputable contractors and planning carefully, you can avoid many of the headaches associated with residential building projects.
Finnteriors Can Answer Your Questions
Even if you have planned out and considered options for adding onto or remodeling your home, there may be things that you haven’t considered or can’t answer. Finnteriors has been in business since 1990, offering professional construction services. We can answer your questions and help you decide the home improvements that are right for you and fit into your budget.
Contact us today to find out how we can help you get that home addition project started!