Are you considering adding onto your home?
Perhaps your family has grown and your current space suddenly feels too small? Or, maybe you want to add an area for entertaining friends or to serve as a home office? Whatever your reason may be, home additions have the potential to add more room and can even boost your home’s value.
But, that’s not all.
Many homeowners don’t even consider the full list of benefits that a home addition can bring to the table.
Read on to find out about the ways that adding to your home might benefit you!
Benefits of Home Additions: The Advantages of Adding to Your Home
When many people consider the costs of a home addition, they stop short of following through with their vision. But, adding on to your home can hold benefits that more than make up for any out-of-pocket expenses you pay in the process.
It’s also important to keep in mind that while the average home addition costs around $22,000 or more, there may also be some ways to drive down costs while still enjoying the benefits we’ve listed below.
Here are just a portion of the benefits that you can expect when you decide to add on to your home.
1. Living Large(er)
One of the most practical benefits of adding to your home is the added space you’ll acquire. And, with added space comes increased versatility and options that might not immediately come to mind.
For example, an added room provides a place to enjoy dinners with friends, host neighborhood get-togethers, and might even serve as extra sleeping quarters for guests. Meanwhile, an extension to your home can be a go-to hideaway to unwind after work or a sanctuary to spend sleepy Sunday afternoons.
Adding even a little extra space offers a lot of possibilities.
2. Avoid the Headache of Moving
For many people, their home is much more than just a place to lay their head. Home is where the heart is.
Even if you’ve outgrown your current living space, the idea of moving might send shivers up your spine.
Let’s face it: Being the new kid on the block is never easy. Whether you’re a child or entering your Golden Years, moving into a new neighborhood can be tough.
When you purchased your home, it might not have occurred to you that you would ever want to stick around to raise your family or retire there. But, years of experience might have caused you to reconsider. After all, it’s hard to put a price tag on forever-friendships you’ve made with neighbors (who turn out to be more like family than your actual family!).
Maybe it’s time for a bigger house. But, that doesn’t mean that you have to start packing. With a home addition, you get the best of both worlds.
You can live in a place that you feel most comfortable, a little more comfortably.
3. A Built-In 2-For-1 Solution For Aging Family Members
When it comes time to consider a place for Mom or Dad, a home addition can offer a solution that you’ll both agree on.
As much as you don’t want to leave the home you’ve created, your aging folks don’t want to give up their privacy or independence. A mother-in-law suite offers a perfect solution for everyone involved. Adding on to your home can give you extra room to accommodate aging parents without springing for a new place.
4. Boost Your Home’s Value
One of the biggest questions from homeowners who are considering a home addition is what kind of return they’ll get on their investment. Not every home addition yields the same return, so it’s smart to consider your options.
For example, adding an additional bathroom could offer an 80-130% return on your investment. Given that you’re likely to reap more than you sow, there’s no need to waste time wondering if you should fork over the cash for a bathroom addition. It’s a no-brainer.
But, calculating the added value of other room additions isn’t always so simple. If you’re only looking to increase your living room space, your return could be less than 50% after you tally up your expenses.
An extra bedroom, however, can boost your home’s value by a mega-margin. A new kitchen is another addition that’s easily justified, thanks to the typical boost in value that it brings.
6. Add Curb Appeal
Adding onto your home doesn’t just change the interior, it can also create added curb appeal as well.
If you choose the right professionals for the job, they can help you design a room addition that brings new life to your home’s exterior appearance, while transforming the interior as well.
Create the Home You’ve Always Wanted!
Room additions give you the freedom to create the home you’ve always wanted. And, they can be a lot more affordable than buying a ready-made dream home. Plus, you don’t have to weather the inconveniences of moving when you add on to your home.
Sure, a home addition can potentially cost several tens of thousands of dollars or more. But, this isn’t always the case. In fact, there are lots of ways that you can offset the costs of adding on to your home.
If you want to expand your home, don’t let your fear of costly construction keep you from having the home you’re dreaming of. Once you decide on what’s most important to you, it’s easy to come up with creative ways to shave off some of your costs.
Looking for ways to trim down the expense of a home addition?
Check out this post for tips to prepare your home for expansion without blowing your budget!