Everyone has that dream project for their house and 8 times out of 10 it is adding an addition. It can be something as dramatic as adding an apartment extension for an elderly in-law or as simple as adding an additional office, but everyone has something they would like to add on to their home. The best thing about this type of project is that no matter what it is, it will have some exceptional benefits for you. At NJ Home Builder, we have plenty of experience with adding onto houses and have seen first hand just how much these projects pay off in the long run. If you are debating if you want to go through with this type of construction on your home, consider these advantages that you’ll gain from going through with it.
The one thing everyone could always use more of in their home is space. It doesn’t matter if you are living in a luxurious beachfront mansion or a small apartment on the third floor of your complex, every home just doesn’t seem to have enough room for who lives there. When you add an addition to your home, you are opening up some extra space to use as you see fit. Perhaps the attic can be turned into a stylish guest room or expanding out into the yard can give you a relaxing sunroom. Some additional room is always incredible to have, just imagine the endless possibilities it gives you.
Increased home value
A major perk you get from adding to your home is increasing its value dramatically. On average, 80% of the cost of an addition is added to your homes overall value. Prices range depending on a homes location and a few other factors, but this average is consistent across the board. No matter what you end up building onto the house it will give your home solid increase in value. A masterfully built add-on could even make the difference between a pass or a successful purchase from a buyer.
Cheaper Than Moving
Sometimes a home can no longer accommodate its residents as their needs change. This can result in them having to move out, but with an addition, they can go on living there happily. Adding onto to your home is often much cheaper, less stressful, and overall an easier experience than trying to sell and buy a new one. The cost of an addition to a home is anywhere between $25,000 and $100,000 while the average cost of a house in America is $188,900. Adding on to and fixing your house to suit your changing needs is a great alternative to moving. Best of all, this can allow the house to be passed down to generations as aging parents move into an added on an apartment while their children move into the main house with their new families.
Additions are usually thought of as being used by guests or live in family members such as elderly relatives, but a much more lucrative choice is renting it out. This extra space in the home can be used for a secondary source of income, something that everyone can benefit from. Depending on your location you could either use it as a seasonal rental or have a constant resident staying throughout the year. It’s important to know which works best for you and will be less intrusive to your family and potential renters. Letting your mother in law stay in the new loft above the garage is nice, but is it as nice as making some extra money on the side by renting it out to a young newlywed couple?
An addition is a fantastic way to improve your home. Not only does it add to the overall value, but it’s cheaper than moving. It also gives you some extra space in your house to do whatever you wish with and the possibility of renting it out for a second source of income. There are a ton of advantages to adding onto your home, whether it’s for pleasure or with a purpose. No matter what the reason, if you want the job done right, we are the ones to do it!
At NJ Home Builder, we are the best in the business. Mixing high-quality work with our expert builders, we promise that our results will take your breath away. No project is too much for us to handle. We are masters at our craft specializing in home raising, renovations, remodeling, and more. Call us for any and all home projects so that we can make your dream home a reality. For more great construction and home tips, check out our blogs.