You have another person living with you, you are working from home, the kids are growing and need more space; just a few reasons people consider adding to the square footage of their home. Have you been thinking about an addition to your home and you're not sure where to start? Below are some of the things you should consider before committing to an addition. How much will it cost? - Companies should offer a complimentary estimate. You should identify a few contractors (hopefully ones that come recommended) and get quotes for what you hope to accomplish. They may offer other ideas to meet your goal. Add 20% for contingency costs and determine if this number aligns with your budget. Will it look cohesive with the rest of your home? - To add space, you need to either go up or go out. How will the addition look? If building up, what will be required to ensure that your home will be structurally sound with the additional weight? - How will this impact your current living situation while the work is in process? Will you be able to live in the space during most of the renovation? What space are you giving up? - If building out, you are losing part of your yard. Will you miss this space? Are there homeowners' association rules that will prevent you from doing this? Are there other restrictions in place that prevent the addition? - You want to make sure that you are aware of any zoning restrictions and that any required permits are obtained before you begin. Will it add value to your home? - Taking on an addition is a costly endeavor-both time and money. If it doesn't come out well, it could actually decrease the value of your home. You should find out what your home is worth without the addition and explore what it might sell for with the addition. While you may not be selling in the near future, you should always keep resell value in mind when putting large sums of money into your home. |