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Home additions are a great way to transform your home and give your family the necessary amenities and space they always dreamed of. While many families across America look into remodeling plans, others are taking full advantage of the numerous benefits a home addition can provide such as added space, potential rental income or more natural light. There are many other advantages to investing in a home addition.
1. Home Additions Give You More Space
One of the first wishes all homeowners bring up when they are updating their home is more space. Americans like to store photo albums, bikes, workout equipment and so much more. A home addition can greatly add to your usable square footage, whether it be in the form of a kitchen, bathroom, bedroom or family room. Sometimes, even a very small addition can yield big results. Adding just three or four feet to a small kitchen or bathroom can open up a world of possibilities.
Whether you choose to add a living room, dining room or maybe even a bow window, a home addition will give you the extra space you know you want.
2. Home Additions Can House Extra Family Members
It is no secret that more kids are moving back home. In fact, according to a recent study by the Pew Research Center, almost 40% of young adults live at home with their parents. In 2012, a record 21.6 million millennials (ages 18 to 31) did so. Furthermore, elders are choosing to move back in with their children. In 2011, 4.6 million elders moved back home.
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If you have the space, home additions can include an entire bedroom. In fact, if the plumbing allows for it, you can even add a small bathroom or extra guest bathroom. The extra bedroom and bathroom would be perfect for out of town guests as well.
Home additions can get expensive, as we noted in our home addition cost estimator, but when it comes to family, you can’t attach a price tag.
3. You Can Rent It Out for Additional Income
If you choose to build a full bedroom and bathroom, homeowners could also rent out the additional space. While the entire home may get cramped, some homeowners are choosing to rent their addition to make up for the building costs. It’s not the most common route to take for home additions, but certainly one that can’t be ignored given current times.
4. Home Additions Could Add Value to Your Home
Homeowners like to assume that adding more space always increases the value of your home. That is not true. While a home addition could add value to your home in the long run, that is not always the case. If you are building a home addition with the goal of increasing your home’s value, we highly recommend doing your research or contacting a real estate professional first.
5. Home Additions Can Be Cheaper than Moving
It should be fairly obvious, but no matter what type of home addition you undertake, it will almost always be cheaper than moving. Furthermore, moving comes with the huge hassle of packing, hiring movers and reorganizing. Additionally, with home additions, concrete and framing can get under way for at least two weeks before the construction moves into your existing home. When it comes to aggravations, home additions beat out moving every time.
6. Home Additions Can Add Luxury
As I said earlier, we could always use more space and the first room all homeowners always want to remodel is their bathroom. If your space allows it, home additions can add luxury to your master bathroom. If you want to add a closet, a bathtub or perhaps his and her sinks, home additions can certainly make room for those lavish items you always wanted.
7. Home Additions Can Add Natural Sunlight with A Sunroom
When property owners think of home additions, oftentimes, they think of a sunroom. They cost less than full-scale room additions and they give you just as much square footage. Sunrooms can also add some natural sunlight to the surrounding rooms. Better yet, homeowners can take on this project without the help of a professional contractor. See our DIY Tips for How to Build a Sunroom.
Home additions are one of the many ways you can transform your current residence into the dream home you always wanted. Home additions are less expensive than many remodeling jobs and are almost always more affordable than moving. Whether you need more space, an extra room for a family member or want to update your master bathroom, homeowners should never overlook a home addition.
If you are serious about building an addition to your home, see what you can expect to pay in your area by checking out our home addition cost estimators.