How much? How long?
A home renovation is no small decision, so we get a lot of questions before starting a project. Questions like, "How much of an investment will this be?" and "How long will it take?". In this blog, we'll highlight some of the most popular renovating and remodeling projects and the general investment and timelines associated with them.
A home addition is a great way to customize your space, as it tends to add significant value to your home by increasing the livable square footage. Because some additions can end up being more costly in the long run, you don’t want to walk blindly into a project. So, we’ve put together some tips to help make sure you get the greatest ROI out of your home additions.
1. Consider your current space and future buyers.
First things first, deciding where in your home you want to add on to. Take a fresh look at your house and begin mapping out what your pain points are. If your guests typically have trouble finding a place to sleep when they stay over or you’ve been dreaming of a home office for years, these are all options to consider and begin weighing the benefits and costs associated with those additions. Building out increases your property space and value, but building up is a great option if your yard space is limited. We always recommend avoiding online estimators to calculate your true costs. They are rarely realistic and can create unattainable expectations. At the end of the day, the core of our service is to walk you through what those costs are and create a custom-designed solution to fit your needs.
2. Consider additions that improve the functionality of your home.
A few other options that can enhance the value of your home are closing off a patio or concrete porch to make a new room. Creating a sun-room or a family room can help add functionality to the space while keeping it centric to the outdoors.
3. Consider your existing style.
When planning an addition, it’s important to be aware of the style of your home. You don’t want to create a hodgepodge of looks within one house as that tends to come off rushed and poorly planned to potential buyers.
4. Consider your lifestyle.
Home value isn’t the only factor that increases the “value” of your home. Take into account your family size, your interests, and what you consider a comfort versus a necessity. Home additions are often an untapped opportunity to make your family much more comfortable on a daily basis.
5. Consider the homes around yours.
Make sure to pay attention to the values of homes in your neighborhood. No matter how many additions you make to your space, keep in mind that the market value average of the homes around yours will always have a drastic effect on the overall price of your home.
In the long run, these changes will help improve your lifestyle on a day to day basis while making your home more appealing to potential buyers if you choose to sell. In order to get the best investment, make sure to do your research and take in mind the tips we laid out above. We’re always available, and if you need any additional help, you can reach out to us!