If you’re feeling cramped in your current house, your first thought may be to look for a new home. This can be hard, though, for families who have grown attached to their home or community and don’t want to disrupt their children’s lives. For these families, putting on an addition may be a better option. To better weigh the options, here are some things to keep in mind about an addition.
- Staying power
- Permits and permissions
Yes, an addition costs less than a new home, and you’ll probably recoup the cost of an addition in the value of your home. However, if you’ll still have to move even years after an addition to your home, it may not be worth it. If you’re hunkering down for the long haul, an addition is a great option. If you still may be moving on during the next few years, it may not be right.
As soon as you get your first estimate, you’re bound to start wondering whether you can afford an addition. There are online calculators to help you figure the cost of an addition. When you’re ready to proceed, make sure you’re able to get a loan (if you need one), that you’ve built in money in case the project goes over budget, and that you’ve gotten good estimates from different contractors.
Many additions require permits. Your contractor can help you out with this, but ultimately, the buck stops with you. While you’re getting permissions, don’t forget about the people around you. The construction will cause quite a disruption for your family and you should talk with your neighbors beforehand to maintain good relations.
These points and their accompanying articles can help you get started on the decision-making process. We’re also available to lend you advice based on our expertise in building additions. Contact us for more information.