From Tim on March 25th, 2009 in Home Additions
Considering the housing market these days, a growing number of people are adding on to their existing home. This option is much more appealing than buying a larger house. The next question is do you create a new addition, perhaps over the deck? Or should you renovate an unfinished part of the house, like the downstairs? Both options are good, but which one is better?
A new upstairs addition using the deck as a starting point could be turned into a bedroom, sunroom, or family room. Building permits and a contractor would need to be hired. Construction of a foundation, frame work along with exterior roofing, and electrical should all be hired out. Plus, a work schedule between the company and the homeowner should be formulated. Meeting construction deadlines is important. Keep in mind, increasing your home’s footprint can be expensive. It usually costs more than the renovation of an unfinished room.
As for upgrading the downstairs, this option has an upside over additions. The foundation is already there, framing the walls and building the flooring is the next step. A downstairs bath with a toilet, shower, or a whirlpool tub would provide some independence for this room. If a makeshift kitchen were built, it could eventually be the living quarters for an elderly member of the family or you could rent it out for supplemental income.
The new add-on should only be considered when all other options are exhausted. Frequently homeowners get in over their heads because building a new wing to the house is exciting. For example: if the cost of the addition is $30,000 dollars and your home value increases by $15,000 dollars, then it might not be worth your trouble to expand.
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