A room addition may cost money, but it offers some serious benefits.
Are you considering adding on to your home?
Room additions have the potential of adding significant value to your home. There are a few things that you should consider before you get started, however.
The average cost of a home addition in the U.S. is over $150,000 dollars. And, a large addition might cost homeowners as much as $375,000 dollars or more depending on your remodel needs.
But, don't let the estimated costs scare you. Room additions have the potential of paying you back many times over the amount you might spend on the construction.
Room Additions: Are They Really Worth It?
When considering adding onto your home, there are a few questions that you can ask yourself to help make the decision easier.
You're probably wondering whether or not a room addition will be worth the time, effort, and cost to complete it. Of course, the answer won't be the same for every homeowner, but you have to weigh the costs and benefits of your own situation to decide what's best for you.
The Benefits of Adding Onto Your Home
One of the great things about room additions is that they benefit homeowners in the short term and in the future. Adding onto your home often adds value which can translate into cash when you're ready to sell. Room additions also upgrade your lifestyle for entertainment, family and guests, and for every day, easier organization of your personal items.
Here are more of the ways that adding onto your home can benefit you.
1. Added Space
The reason that many people first consider a room addition is based on their need, or want, for more manoeuvrable space. For those who want more space, and don't want to go through the upheaval of moving to a new location, a room addition can offer the perfect solution. You've grown to love where you live and can't bear the thought of trading your address for a different place.
No matter what the reason for adding on to your home, a few extra feet can go a long way.
Perhaps, your family has grown since you first bought your house. You can design the ideal nursery, mother-in-law suite, guest bedroom, entertainment room, man cave, extra bathroom, and more.
2. Save On Moving
Room additions are actually more cost-efficient than you might think.
Once you consider how much money you would spend on the purchase of a larger home, along with any moving expenses, adding onto your home is likely to cost you less.
Want to know just how much a room addition would cost versus the price you would pay for a home with extra footage?
In 2019, the average home costs $471 dollars per square foot. Meanwhile, the average cost for a room addition on starts at about $260 dollars per square foot. Based on current averages, you would pay almost double for the same amount of square feet in a new home versus what you might pay for a room addition.
Depending on a wide range of variables, the price you will pay for a new home in today's San Diego market is estimated to cost somewhere between $575,000 and $675,000. Of course, your home may be valued less or more than the typical home but these estimates are based on recent statistics.
You can do the math on your own, but you will probably find that it makes more sense financially to add on to the house you're living in rather than buying a larger home even if it's located in the same area.
3. Boost Your Home's Value
Although mentioned briefly above, one of the major benefits of a room addition is the added value it can bring to your home. Not only does a room addition boost your home's overall value, but the right design can also add curb appeal, too.
When it comes time to sell, you'll be able to reap whatever you sow. And, you'll be able to enjoy your roomier digs until you're ready to cash in on your investment.
4. More Room, More Choices
When you add space to your home with a room addition, you're suddenly granted a slew of choices that you didn't have before. You have more options for your home's layout. You can use your new room as an opportunity to mix up your current decorating theme. You can now host friends and family that you couldn't in the past.
The right remodeling professional can help you create a perfect room addition to match your budget.
Once you set the budget for your new added space, you can then embark on additional improvements that match what you're doing. Perhaps a room addition will motivate you to complete the things that you've been putting off for years.
Learn More About the Ways a Room Addition Can Benefit You!
Are you ready to add more space, more options, and more value to your home?
A room addition might be the solution that you've been looking for. Our professional remodeling team can help you plan a just-right added space to fit your home and your life.
Want to learn more about the potential of room additions?
Contact us today to find out how a room addition can benefit you!
