Have you outgrown your home but don’t want to move? Building an addition may be the right choice for you, especially if you love your neighborhood. Building a home addition not only adds to the value of your home, it will make it more desirable to buyers when you are willing to give up your 01950 zip code.
In general, home additions have a good Return On Investment (ROI) and the longer you stay in your house, the more likely you are to recoup your costs. Couple that with the benefits of the added living space and you also get what I call “Return On Enjoyment” (ROE) and who doesn’t deserve ROE these days? Also important is the size of the addition, because that plays a huge role in the cost: the more you build, the less it costs per square foot.
Additions come in many shapes and sizes, but the most popular is a garage addition with a Master Bedroom Suite with spa-like bath above. Here’s a step by step process to help you with planning a home addition.
6 Steps for Planning a Home Addition
- First, research home values in your community – unless you want your house to be the white elephant on the block
- Next review the latest Cost vs Value report to familiarize yourself with average costs to build an addition
- Then set a budget for your project and decide how you’re going to finance it (home equity loan, refinance or savings)
- Consider possible timetables and whether you’ll remain in your home during the construction
- Communicate with the Planning Board to learn what local zoning regulations will affect the design of your addition
- Vet and hire your builder and architect early, so you’re all on starting from and working on the same page right from the start
You can learn more about the design build process on our website.