In our last blog we wrote about the types of home additions. We have conventional home additions, a room addition, sunroom addition, garage addition, basement addition, kitchen addition and more. But why would you add to your home? Below we will explain how you would benefit from a home addition.
A home addition creates more space
Space in a home is always desirable. Whether you are living in a luxurious home at the beach or a small apartment in a complex, every home seems not to have enough room. Never heard someone complaining: “I don’t have enough space, I need a bigger home!”? That’s where home additions come in. When you add an addition to your home, you get extra space which you can use as living space. Turn the attic into a guest room or expand your living room with a relaxing sunroom. The possibilities for home additions are endless! Click here for the types of home additions.
A home addition is cheaper than moving
There are some cases where a home doesn’t meet the requirements anymore, for example in case of a couple expecting children. Or when one wants to have family members such as elderly relatives to live in your home. In these cases, a home needs change and expansion. An option is to move out to bigger home, but adding to your home is often much cheaper and less stressful. It will also be easier than trying to sell and buy a new home. The cost of a home addition is anywhere between $ 25,000 and $ 150,000. The average cost of a house is $ 349,000, so a home addition is a great alternative to moving.
Guests can rent a home addition
As being said, additions are usually being used by family members or guests, but there are more options where you might not have thought of. Renting out a room might be even more lucrative and beneficial, as you can use it as a secondary source of income. For example, you can choose for seasonal rental and in holiday periods, or let someone rent it for a longer period of time or throughout the year. That way you’d have continuous income from renting.
A home addition increases the value
One of the main benefits of adding to your home is increasing the value of your home. If you are selling your home you will get a higher return on investment. It is said about 80% of the cost of an addition is added to your home’s value. The exact price depends on the location and other factors, but 80% is an average.
Overall, an addition is a great way to improve your home. It increases the value of your home, it’s cheaper than moving and it gives you extra space in your house. You can do with it all you want and it can even give you some extra income. Considering an addition to your home? Let the job done right so contact us for the possibilities and free estimate.
