There are many reasons a homeowner may choose to add an extension to their home: the arrival of a
new little one, the desire to add value to a property, or simply a need for more space.
Whatever the reason, adding an extension is no small task, and isn’t always easier than moving homes
From hiring contractors to coming up with the funds to complete the project, there are many stresses
inherent to adding an extra room to your property.
Consider the following before beginning construction and make sure this is the best move for your home,
life, and family.
Consider the Costs
Like any other home improvement endeavor, it’s important to consider the costs you can realistically
expect to face.
Of course these will vary based on what you plan to add, your location, and the help you hire, but
according to HomeAdvisor, the average cost of adding a room comes in around $40,942.
melds with the rest of the home.
You’ll also face demolition and site preparation costs, along with those incurred through foundation
pouring and any support beams you may require.
Roofing, interior costs, new doors and windows, and electrical expenditures can quickly add up.
This is truly only the tip of the iceberg when it comes to costs, and it’s important to plan out exactly
how much you’ll need to spend in order to handle all the unexpected costs that come your way during
Building Up Vs. Building Out
There are two main ways to add onto your home: vertically and horizontally.
The way you plan on extending is largely dependent on the ways you hope to use your addition.
If you’re hoping to add an extra bedroom, it could make more sense to build upward.
If you’re considering creating a new kitchen, it may make more sense to build out.
Building out is the most popular way to add extra space to a home, and it extends the footprint
of your living space by expanding upon your home’s perimeter.
This means not disrupting the rest of the home, but it does come with its drawbacks.
You’ll cut down on yard size, may need to spend money on building a new foundation, and may
be required to dealing with zoning stipulations.
Building up is great for homeowners that want to expand their space without increasing their
home’s footprint. This may come in the form of building another room on your second story,
or starting from scratch and building an entire second story on top of your first floor.
It’s important to check with local ordinances; some cities limit the height of buildings and homes.
Remember that a second story will necessitate a stair case, which can take up a good 120 square
feet inside your home.
There’s an increasing focus on sustainable home building practices, and as you consider the features
desired in your new addition, consider how you can make your new space energy efficient.
That may mean adding extra insulation to keep your heating and cooling costs down, or installing
energy efficient appliances.
While these types of home improvement projects can be costly, there are ways to finance the costs.
The government has been increasingly pushing to reward homeowners that make the effort to conserve
energy and precious natural resources, especially in populous states like California.
Case in point: there are PACE programs in California that help homeowners finance their energy efficient
upgrades, making it affordable by adding on the costs to property taxes.
This makes adding efficiency projects to a property much more affordable, and could be the right option
for your home extension.
How Much Value Will My Extension Add?
This question is impossible to answer without considering your geography, type of extension, and costs
of local help.
Additions to your home can be costly, and often provide less return than their remodeling counterparts.
In order to add value, you’ll need to consider the amenities that are prized in your area, and choose based
upon the things that buyers seek in your neighborhood specifically.
If you’re planning to add an extension to your home, keep these facets in mind and determine the ways
you can make your living space work for your needs.
Have you ever added an extension to your home?
Share your thoughts and comments with us.