Many homeowners come to the point where they outgrow their home, and then the question arises “Should I sell, or just add onto my current house?” Moving is always a daunting task that people avoid, but the process of expanding is just as difficult. There are many decisions to make, and many of them will affect your bank account. Once you’ve made the decision to add on, know that your home will be filled with all that comes with a typical construction site; dust, plaster, nails, and many other construction materials. So if adding to your home is crossing your mind, here are some things to consider before taking the plunge.
Who Should I Hire?
A consultation with an architect is a good place to start. You may not need their complete services, however, they will be able to help in a vision that is cohesive with the rest of your home. It is not a wise investment to have an addition that looks like it was tacked on. Blending an addition into the home will also help in the resale value. Keep in mind that there are many remodeling firms and construction companies that have architects on staff, so do your research. Always check that whoever you do hire is bonded, licensed, and insured.
How Much Should I Spend?
The cost of an addition varies according to what room you are working on, and where you live. The website www.CostHelper.com can give you estimates, but as a general approximation it is somewhere $200 - $600 per square foot. Note that the size of the space is important, the more you build, the less it will cost per square foot. A common way to pay for an addition is by refinancing your home. Some lenders will even offer construction loans based on the future value of the property after the additions havebeen made. It is important to contact your insurance company before construction begins, they will more than likely raise your rates. This is wise because if the new addition is destroyed before the new coverage has been implemented, you may be responsible for the cost of repairing or rebuilding the addition.
What Inconveniences Can I Expect?
Adding a room is a loud and unpleasant time, so if you work from home, make a plan in advance that allows you to have a clean and quiet workspace. If you are adding onto your kitchen, plan on how you will be preparing meals for you and your family, or budget for eating out frequently. Pets are also something to consider. If your pet gets aggressive with strangers or suffers anxiety from noise, consider a daytime kennel so that you do not overwhelm them. A professional typically will do everything possible to minimize the disruptions from your everyday routine, but some annoyances are not avoidable. It is wise to ask the remodeler what they anticipate will be inaccessible before they begin so that you can better prepare yourself.
Are you considering a move in the near future?The Nate Robinson Home Selling Team is here to help you before, during, and after the process. Call my office at 760-566-7600, visit us at 2383 Camino Vida Roble, Suite J in Carlsbad, or send me an email at [email protected]
Author:Nathan Robinson Phone: 631-774-6374 Dated: June 14th 2016 Views: 1,834 About Nathan: An entrepreneur and a relentless innovator of the real estate industry, Nate Robinson is the creator...
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