When a house becomes a beloved home, a room addition to make it fit your evolving family needs becomes appealing. But, is it the right decision for you? Should you put it up for sale? Or, bring it up to date?
A Room Addition Starts With Value Calculations
On average homeowners get the moving itch every seven years. Your home’s resale value is a critical factor in deciding to stay and grow, or sell and go. So, start with researching your home’s value.
Check the value of homes in your area. Compare recent sale prices. Determine what you can realistically get for yours—as is. Use apples-to-apples comparisons: square footage, bedrooms, bathrooms, etc. A real estate agent can help with these numbers. Just remember, they are likely to encourage a sale.
What you’re looking for is a spread between the value of your house with planned improvements and the value of your home now. That difference is your budget. Exceeding that envelope may deliver an amazing remodel, but not necessarily a return your investment.
When does A Room Addition Add Value?
When considering a room addition, consider its return on investment—or how one can actually diminish the value of your home.
For instance, over-customizing your home can create needless friction to resale down the road. Neighborhoods have a range of style. That’s why people buy there. Make sure your home doesn’t become an odd (or ugly) duckling.
Consider how many bedrooms and bathrooms are found in similarly sized homes in your neighborhood. Use that as a guide on how much can be reasonably added.
Of course, it’s hard to go wrong adding bathrooms or increasing kitchen size. Working with a trusted pro, like TriFection, is the best way to make sure your room addition is properly located with appropriate functionality.
How Not To Do A Room Addition
Don’t wing it. Decide early on a budget and design—Then, stick to your decisions. It’s easy to make suggestions and additions to a project-in-progress. The problem is, these change orders add up and balloon out the budget and project duration.
Trying to save money buying your own materials is a fool’s errand. Doing so inevitably derails a project. Your contractor knows best. When working with TriFection, for example, they have the experience of working with trusted suppliers who deliver the right products on time and on budget.
One last tip: Trying to use your kitchen during a remodel, for instance, compromises project efficiency costing needless delays. Accept that you’ll not have a kitchen for a period of time. Or, that you’ll be short one bathroom till yours is done. Same goes for room additions: don’t even think about using the space till the project’s complete.
Should You Remodel or Relocate?
Knowing you need more space is easy. How to get? Not so much. Relocating for better schools, to be closer to family, or even for a chance of pace are common reasons for a sale.
Then again, factoring the cost of selling, moving and getting life back on track at the other end, starts tipping the scales in favor of a room addition. If you love your home and neighborhood and have the value spread to accommodate one, a TriFection room addition project can give you a new home feeling without moving.
The itch to move strikes every seven years or so. But, does a room addition make more sense than moving? See why making the house you have into what you want can save time and increase return on investment in this video.