Are you planning a home addition and wondering if it would be worth it?

Perhaps you’re tired of tripping over each other in your cramped house. Your kids are begging for their own rooms. Or maybe you want to invite your aging parents to move in with you.

Whatever the reason, you’re considering the possibilities of a home addition. Given that a home addition may be the most expensive home improvement project you’ll ever take on, it’s understandable if you’re wondering if adding on to your house would be worth the cost. And what if you’re not happy with the results? You can’t easily do it over, as you could if all you’d done is slap a coat of paint on the walls.

Pros and Cons of a Home Addition

The best way to start your decision-making process about a home addition is to consider the pros and cons. By looking at both sides, you’ll be better able to decide if you want to proceed or not.

Pros of a Home Addition

1. A Home Addition is Your Creation

Unlike a simple renovation, adding on to your home allows you to create the space. You’re not just altering someone else’s work. So you’ll be able to put your own personality and desires into building the space you want.

2. There’s No Better Way to Add Space

Nearly everyone who builds a home addition is looking for more space. Sure, it is true that turning a porch or patio into a sunroom can give you more room. But not all buyers will consider it to be quality space.

In contrast, a home addition will add actual square footage to your house and be quality living space you can enjoy, and that potential buyers will value.

An addition can also be the perfect way to add recreational areas to your home. Whether it’s a home gym or theater, a craft room or other specialized space you’re looking for, an addition could be the way you get it.

3. Enhance the layout of your house

Adding on to your home might enable you to enhance or refresh the layout of your house. Taking out a wall, for example, can give you that open plan you’ve wanted while making the flow more efficient.

4. Avoid Moving

Moving, as we all know, isn’t easy, can be expensive, and creates a lot of upheaval. And often moving means leaving a neighborhood that your family loves.

5. Increase the Value of Your Property

A well-planned home addition can enhance the curb appeal of your house, give it a fresh look and make it more functional. The additional square footage will generally mean you’ll be able to set a higher asking price.

While a higher resale price is not guaranteed, the favorable market in South Florida makes it more likely that you will get a great return on your investment. As more people relocate to the area, housing values continue to climb. Over time, the appreciation on your house could exceed what you paid for your addition.

Cons of a Home Addition

Now that we’ve looked at the plus side, let’s consider some of the drawbacks of home additions.

1. A Higher Resale Price is Not Guaranteed

While adding square footage to your house by constructing an additional room or bathroom generally means you’ll be able sell for more money, this isn’t always the case. Changes in the housing market or economy could affect what buyers are willing to pay. If you over-improve your house beyond what is usual in your neighborhood, you might not get as high a return on the money you invested in your addition. If return on investment is important to you, consult a real estate agent before finalizing your plans. They could be able to tell you what features are getting the best return in your area.

2. Increased Expenses

After your home addition is complete, you’ll have more house to clean, more space to heat and cool, and higher property taxes. All these expenses can add up.

3. Loss of Yard Space

Unless your addition is built on top of your existing house, it will most likely take up some of your yard space. If you have a small lot, this could be a problem, especially if local zoning requires a certain amount of space.

4. Additions Are Stressful

There’s no way around it. Adding on to your home can be emotionally stressful. Having workers, dust and noise in your house continually for weeks or months on end can wear on you.

5. Can Be Expensive

Depending on the project, your addition could end up being more expensive than moving. Projects that expand your house horizontally are less costly than those that build up vertically over the existing structure. To give you some examples, a 300 square foot master suite addition could cost between $75,000 and $100,000. A 1000 square foot addition that enlarges the kitchen and living room on the first floor and the master suite on the second floor could easily be in the $300,000 range.

To Add on or Not to Add on?

As with most big decisions, many factors come into play when deliberating if a home addition is right for you. The most important criterion for you to consider is your why for wanting a home addition.

Being clear on why will help you minimize the downside and maximize the benefits of your project. Ask yourself the following questions:

● What is my goal for the additional space? How do I intend to use it?
● What exactly do I not like about the current space?

This is important because the answers will drive the planning of your project. So consider carefully. Are you adding on to get more living space? To create some more accessible space? To add a little luxury?

In any case, you need a clear reason. If you don’t have one, it will be hard to develop a solid plan that you’ll stick to and to stay within budget. It will be too easy to get caught up in adding features that would be nice to have, rather than making priorities of the ones that most closely align with your vision.

And by having a definite goal in mind, you’re more likely to end up with the addition you want. If you have some extra money and think an addition would be a good way to invest it, that line of thinking doesn’t make good financial sense. Not when you are likely to recoup less than 60% of your investment when you sell.

Home Addition vs Moving Decisions

Once you know your why, then it’s time to think through if adding on is the right decision. A lot depends on your circumstances, such as in the following examples.

1. You Have No Plans to Move

Consider how long you plan on staying in your current house. If you don’t have any plans to move in the next five to ten years, then a home addition might be the right choice. However, if you think you might be moving in the next few years, you’ll probably be better off saving your money so you can buy a bigger house when you do move.

2. You Love Your Neighborhood

If you love your neighborhood, then an addition may be the better choice. There’s no guarantee your new neighborhood will be as good as the one you live in now. Unless, of course, the perfect house happens to go up for sale just down the street.

3. Your Home has Unique Feature that You Love

If your home already has unique features, such as built in bookshelves in the family room or a spa tub in the master suite, or other features you don’t want to live without, then an addition will make sense. These kinds of features might be hard to find in another house.

4. You Are Adding on to Accommodate Your Parents

In this case, an addition might be the best choice. You’ll be able to include your parents in the planning process. Otherwise, you might end up taking them all over to look at houses, which could get complicated.

5. There’s Big Gap Between the House You Want and the House You Have

The bigger the gap between your existing house and what you have in mind, the more reason you have to sell. The simple reason is that the bigger your addition, the more likely you’ll end up with the most expensive house in the neighborhood. That will make it harder to sell and you’ll get a lower return on your investment. If you’re looking to expand significantly, you’ll be better off buying a bigger house.

Unless, of course, you have one of the smaller houses in the neighborhood. Then your improvements will bring you more into line with the others and add significant value.

One way to think this through is to assess how much you could sell your house for as it is. Add on to that what your proposed addition would cost. Then use that figure to see what you could buy with that amount of money. Having that information might make the decision easier.

6. You Have Space that Can Be Converted

If you have a sunroom, porch or garage that can be converted into the space you want, this might be the simplest way to achieve your goal. So if you’re willing to give you that sunroom or garage to achieve your goal, a conversion might be the solution.

7. Local Zoning Gets in the Way

If you have your heart set on a certain addition and local zoning rules prohibit you from building it, then consider a move. You probably won’t get what you want any other way.

The Tear Down and Build New Option

If you really don’t want to leave your neighborhood, there is always the option of tearing down your house and building a new one. Many people are finding this is the best choice of all.

One reason is that it is often cheaper to start over, as you don’t have to try to work around existing structures. With new construction, you can design the house to fit your needs. It will be far easier to install new and more efficient wiring, plumbing, and HVAC systems than to upgrade in an older house. And by building new, you don’t have to worry about making the new portion blend with the old.

Many of our clients have chosen to tear down and build a new house. If this interests you for your residence or an investment property, we can help you decide if this option makes sense for you.

Getting Started with Your Home Addition

Once you’ve thought through the pros and cons of a home addition and have decided it’s right for you, the next step is to find a contractor. Choose your general contractor carefully. An experienced contractor will make your life easier throughout the process, as they’ll manage and coordinate the subcontractors and minimize the disruption to your life. They’ll also make sure the new addition blends well with the older portion of your house.

If you’re ready to plan and build your home addition, give us a call. We’ll be happy to show you how we’ve helped others expand their homes, allowing them to stay in the neighborhoods they love while accommodating the changing needs of their families.

Many people wonder what the benefits of a home addition are. After all, it’s a lot of work to plan a home addition. And then your life is disrupted for weeks and possibly months while the project is underway. Not to mention the major expense you can incur.

But home additions are very popular. That wouldn’t be the case if adding onto your home didn’t provide some very solid and worthwhile benefits. Here are just a few:

More Space

Who doesn’t want more space? Adding on to your home can be the answer.

You can get increased living space by adding on an entire room. Or by enclosing a porch or patio.

Sometimes you don’t even have to do that much. Even bumping a wall out by three or four feet can make a huge difference to the amount of space you have to work with.

Create Specialized Space

Instead of making your living or family room do double or triple duty, adding a room could give you some specialized space. You could create a private office for yourself or a study room for the kids. Or your addition could be a music room that you specially insulate so the rest of the family doesn’t have to hear every missed note. Or the addition could be a childproofed playroom or a mudroom for guests to take off muddy shoes or wet boots. Another possibility is a gym for the days you want to exercise at home.

More storage

Some people add on to their homes simply to have more storage space. And that’s something everyone wants.

By adding an addition to your home, you can easily increase your storage space. No more cluttered hall closets with the overflow of stuff that invades your living areas and makes the space feel smaller.

A smaller project such as enlarging your entrance could give you a welcoming foyer with a closet for guests’ coats.

Other options include creating a place to store your craft supplies. Or sports equipment and musical instruments. Or out of season clothing. Or toys. A home addition can easily give you extra organized storage space and liberate you from crammed, cluttered closets.

Improve Curb Appeal

Adding a bow window to your living room or enlarging the entrance to your home will make it look much more attractive. Not only will you enjoy the new, fresh look, but it will be more appealing to buyers when you decide to sell. And if you tuck some storage under that bow window, that’s just an added bonus.

Provide Housing for More Family Members

Maybe your kids are growing up and it’s time they all had their own rooms. Perhaps you have an elderly parent you’d like to have move in with you. Or a grown child has a need to stay with you for a time. Adding an extra room will make it possible for you to accommodate your family’s needs.

Make Some Extra Cash

If you’ve got an extra room, you could use it to generate some additional income. So if you’re adding on a room to accommodate a family member, think about the future. If you include a bathroom, kitchenette and separate entrance, you’ll be all set to rent out that space when it’s no longer needed for family and it won’t go to waste. Whether you decide to lease to a long-term renter or go for short-term vacation renters, you can start getting a return on your investment long before you sell the house.

Additions Can Be Cheaper than Moving

Many people move because they’ve outgrown their existing home. But moving can be expensive, stressful and time consuming. And if you really like your neighborhood, there’s no guarantee the new one will be as pleasant.

A carefully planned addition can give you the additional space you need, without the upheaval, uncertainty and stress of a move.

Add a Little Luxury

A home addition can give you the opportunity to add some luxury to your home. Expanding the master suite could result in his and her sinks in the bathroom, a larger closet and perhaps even a spa tub.

Enlarging your kitchen would allow you to add some of the features you’ve always wanted, like a wine cooler, chef’s stove or more counter space.

Add Natural Light

Adding a sunroom can bring more natural light into your home to give it a brighter feel.

Get Better Use out of Existing Space

A home addition project doesn’t always involve building a new structure. Suppose you have a screened porch you don’t use very often. You could enclose it and have an additional room that could be used three or four seasons in the year.

Other possibilities are refinishing your basement to become a family room or turning attic space into a bedroom. This way your existing space can be converted into space you will use and enjoy.

Add Value to Your Home

Additional square footage, in the form of an extra bedroom, bathroom or storage can add value to your home. However, you won’t get it all back when you sell. But the upgraded features will be appealing to buyers and you will be able to recoup some of the money you invested.

Add Personality to Your Home

Maybe you’ve grown tired of having a house that looks just like everyone else’s. Building an addition, whether as simple as an enlarged entrance or extensive as an entire room can add an appealing dose of personality to your house.

What are the drawbacks of home additions?

Before starting a home addition project, it’s vital to think through two major drawbacks.

The first is that a space tradeoff could be involved. If you add a room or garage to the back of your house, you’ll lose some of your space in the yard. This will of course be more of an issue for people with small lots.

The second is the expense. Additions can cost more than moving. If you’ve got a very extensive project in mind, you could end up sinking a lot of money into your house. And if you over-improve your house so you are out of line with the neighborhood, you won’t have a very good return on your investment. In this case, moving might be the more economical option.

What are the top home additions?

Having thought about benefits and drawbacks, let’s consider some of the top types of home additions. Since these are so popular, they will not only give you more space and functionality but will add value to your home.

Second Floor Additions

Adding on to the second floor allows people to move bedrooms upstairs, giving family members more privacy. At the same time, you’ve freed up more living space on the first floor. And by building above the existing footprint of your house, you don’t lose any yard space.

Accessory Dwelling Units

Accessory dwelling units, or living spaces that are not attached to the main dwelling, are becoming more popular. Not only do they add resale value, they give you flexibility as your family grows or shrinks. They can also provide a source of extra income.

Most people add accessory dwelling units by converting a shed or detached garage into a unit with a bedroom, sitting area, kitchen and bathroom.

Chef’s Kitchens

As more people are discovering the delight of home cooked meals, they want a more functional space to work in. Adding just a few more feet of space can often feel like a lot, giving you the joy of not working in cramped conditions, along with having room for all the fun gadgets and tools you’ll be working with. You can expect a fairly good return on investment on a kitchen expansion when you sell your house.

Dormers

Dormer windows add natural light while adding a little space to rooms with slanted ceilings. They also enhance curb appeal and resale value.

Bump Outs

Bump outs are a popular option, as all that’s involved is extending a room by a few feet. This small addition can make a huge difference to the usable space in the room, and you don’t sacrifice much yard space to get it.

Florida Rooms

Florida rooms, sometimes called California rooms, are popular ways to create an indoor/outdoor space. These rooms have a ceiling and large glass windows, but they remain open to the outdoors on one or more sides. You can enjoy natural light and being out of doors, and the space can be used as either indoor or outdoor.

Sunrooms

Sunrooms are another popular way to add to a home. Unlike Florida rooms, they are closed on all sides. A standard feature is huge windows and occasionally, skylights. Sunrooms give you extra space for three or four seasons in the year, depending on where you live.

Planning Your Home Addition

As you can see, there are many options for adding to your home. It’s important to keep in mind that good planning is the key to creating a home addition that you’ll love. When you plan your addition, carefully consider your budget, how long you want the project to last, and what realistic increase in your home’s value you can expect.

Perhaps this list has inspired you to think about your own home addition project. By adding on to your house, you can solve storage or crowding problems without having to go through the upheaval and headaches of selling your house and moving. Resolving these problems will make your home more comfortable for you to enjoy living in and increase its resale value.

Do you have a home addition project in mind but aren’t sure how to get started? Or you feel cramped in your house and aren’t sure what to do about it? Give us a call and we can offer some suggestions that can help you make your home more efficient and comfortable, while increasing its value. And most important, your new home addition will make you love your home even more.

If you’d like, we can provide an estimate of what your project might cost. We’ll do our best to be responsive to your needs. Just give us a call to get started today.