Remodeling Tips

Is A Home Addition Right For You?

Of all home remodeling ventures, the project that stands above the others in terms of scope, investment, and planning is a home addition.

Homeowners have a variety of reasons for choosing to put an addition on their home. These reasons vary from homeowner to homeowner, situation to situation.

For many, putting an addition onto a home is an investment. Such an investment certainly adds significant value to the property. However, it takes quite a bit of upfront capital in order to pursue such a venture.

Many people are unsure of whether or not they should put an addition onto their home. Copious research is key in determining the viability of the project. Here are a few questions to ask yourself to help make your decision.

Can you get the permits?

Before you even draw up plans for your decision, it’s important to find out if such a project will be allowed in your area. For such a large-scale venture, there are often several permits you will need.

In some areas and localities, getting a building permit is quite painless. In others, it can be a long process. It’s important to look ahead and see what you will need to get.

Can you fund the addition?

Raising the money to put an addition onto your home is likely the biggest hurdle that you will have to overcome. The best way to do this is to plan ahead and start putting money aside.

Always plan for the unexpected; put more money away than you think you’ll need. The fact of the matter is if you will struggle to raise the money, it’s best to put off the addition for now.

What are your goals?

The goals you have for the addition determine the type of project and how much you will spend on it. If you are putting the addition on purely for a return on investment, it’s best to go with a project that is profitable in your area. For example, if homes with an attached garage sell for more in your area, consider making that your project. If you are completing the project purely for yourself, the choice is up to you.

Ultimately, an addition is a profitable investment and should be thoroughly researched before undertaking.

About the Author - Neal Kerschner

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