HOME ADDITION TIP:
If done properly, an addition can increase a home’s value by much more than it cost to build a home addition. As homeowners consider a reasonable budget for their project, they should plan to devote no more than 20% of the home’s post-project value to building the addition.
Home Addition Considerations
A home addition is less expensive than relocating to a new house, but it’s a decision that requires careful consideration. What costs go into building a home addition, and what factors determine them? Take a look:
Home Addition Size
Obviously, the larger the addition is, the higher the cost will be. In fact, this is the number one factor for determining labor and material costs. Homeowners shouldn’t let projected costs scare them into building a smaller addition than they really want. It’s possible to cut costs by using reclaimed building materials and getting creative with final interior touches. Homeowners are encouraged to communicate with their contractors to maximize the addition’s size without blowing the budget.
Function and Complexity
Adding a spare bedroom is inherently less expensive than adding a bathroom because of the plumbing requirements. A new back porch is likely to cost less than a sunroom because of all the extra glass. In this way, homeowners should carefully consider the type of room they want to add and whether the cost to build a home addition is worth the resulting increase in home value.
High-end or exotic materials and finishes greatly enhance the space, but they increase the cost to build a home addition as well. Homeowners need to weigh their budgets carefully and decide where they can afford to splurge during the renovation project. It’s important to remember the value of quality exterior materials as well, since these provide protection against the elements and provide a first impression for anyone approaching the home.
Not many homeowners have the time and expertise required to complete a complex home addition without the help of a professional contractor. This means they need to take labor costs into account.
Designing a Room Addition
The idea for a room addition may look good in the homeowner’s mind, but they must bring up their ideas with a contractor early on to establish accurate architectural drawings and figure out building permit requirements. These contribute to the cost, but they also help the homeowner pinpoint the exact design they want, which is important for a satisfactory end product and significant increase in home value.
Whether you need help designing your home addition or you’re ready to get started right away, consider these different price options from Insulators Home Exteriors.