To Add or Not to Add: How to Add Onto Your Home Without Taking Anything Away
Math can be tricky — especially when you apply it to life. At first glance, adding onto something appears to give you more. But it’s also true that sometimes less is more. So what’s the answer when it comes to adding onto your home? Will an addition really give you more? Or will it take away from your home? In our opinion, this is the fine balance that a good remodeler must achieve.
Cost Versus Value
Every year, Remodeling Magazine releases their Cost vs. Value Report, which compares the current construction costs of the top remodeling projects to the resale value that can be recouped by the current market. In our region, the cost-value ratio is up for all remodeling projects. Additions in particular vary based on the type of remodel.
For example, a family room remodel is a popular, but also high cost addition. Yet it’s still a good value, recouping almost 70% of initial costs. On the other hand, a deck or screened porch is more budget friendly and recoups nearly 90% depending on the materials used. Keep in mind this is an immediate return on investment. If you’re likely to live in your home for more than five years, that value will continue to rise. And you have to consider your cost of living may be lower if you invest in energy-efficient fixtures and construction. Energy efficient windows and appliances can minimize the cost of an addition by reducing energy bills.
Adding Without Taking Away
An addition can drastically change the way a house looks from the road or yard. If it isn’t well planned, the new space can look like it doesn’t belong. Working with a good designer ensures the addition will look as if it was part of the original design, and not an afterthought. Also, local zoning laws or setbacks may prohibit some of your addition plans. The last thing you want is unexpected legal fees or costs for violation of municipal codes. An experienced, certified professional remodeler will be able to guide you through this tricky math equation to ensure you add the most value and avoid unwanted costs and future problems.