There are many reasons why you may be considering a home addition. If you are happy with your current home and location but want additional space, an addition is an excellent option. Often an addition is less expensive than packing up and moving to a larger home. Home additions are also a fantastic way to prepare for a growing family. While an addition may be the best option for your needs, it's still a significant investment. Here are three things to keep in mind when adding on to your home.
Setting A Budget
Not setting a reasonable budget ahead of time can be a significant hurdle for your home addition. While adding to your home is often not as pricey as buying a new home, you'll still end up putting down tens of thousands of dollars. The average home addition cost ranges from $22,500 to $74,000. This works out to between $86 and $208 per square foot. The more square feet you add to your home, the more it will cost. Ensure that you set a realistic budget, and either have cash or financing on hand before work begins.
Talking To A Real Estate Agent
If you are adding on to your home, it's always a good idea to talk to a real estate agent. While your contractor will help you sift through the details of your addition, a real estate agent will give you an idea of how it will affect the value of your home. A real estate agent will help you determine which additions will offer the best bang for your buck. While adding bathrooms, bedrooms, and other rooms to your home may increase its value, that may not always be the case. You don't want to overbuild your home, especially if you already have one of the pricier properties on your street.
Increasing Energy Efficiency
Another thing to consider when adding on to your home is increasing its energy efficiency. There are plenty of ways to increase your home's energy efficiency when you add on to your home. Choosing energy-efficient materials and appliances will make a significant difference. If increasing energy efficiency is a goal, you should look for a contractor to help you with these aims.
If you are adding on to your home, there are a few things to keep in mind. First, additions are an investment, so set a realistic budget before work begins. Next, consider consulting with a real estate agent to ensure that you make the best decisions when adding on to your home. Finally, consider energy-efficient construction when planning your new addition.