Home Additions - Their Pros And Cons

If you love the house you reside in but it is no longer large enough for your family then it may be time to think about building onto it. Sometimes renovating a home is more cost savvy and simpler to do then to think about relocating to a larger house. Home additions can be everything from adding a small section to an existing home to adding a whole new story or wing. This is not the same for every residence as every household requires different things.

You need to think carefully about home additions however. Do not jump in with both feet before thinking it through. Building an addition onto your home is a very large remodeling project and purchase and it is not one you should make with a snap decision. It is important for you to weigh the pros and the cons first before you go ahead with your renovation plans.

Pros

There are some good reasons to build a new section onto your pre-existing dwelling. One of the reasons is high cost-value ratio. Studies that have looked into this have found that practically all of the cost that is put into a mid-range two-story addition is able to be recovered when the house is sold.

A home addition will not cost you as much money as buying a new home. This is not really that surprising to most people. To add an extra area is more cost effective than to buy a dwelling that is the size of the house you live in now plus has the extra space you are seeking. All of the fees alone including the closing costs would definitely sweeten the deal and help you to decide that adding on is better than moving somewhere new.

If you have a flair for designing then a home addition can provide you with the opportunity to let your imagination have wings. You can make the new space in your home whatever you want it to be and for whatever purpose you desire. You can design whatever you wish without paying the price you would to purchase a new home. Your creation in this case would truly be of your own making- for a fraction of the cost!

Cons

It is good to be in a positive mindset about a home addition but you also must balance out the advantages of taking this step as a homeowner with the disadvantages of doing so. Be aware that building a new section onto your home is not an absolute guarantee that you will recoup the money you put into the add-on when the time comes to sell it. While it is the case that the cost-value ratio on an addition is much better than on various other kinds of renovation projects, the total amount that you put into the work on your home may not be recovered in the long-term.

Home additions mean that there will be more space in your house which will lead to increased property taxes and heating and cooling bills that are higher. It will also mean that you now have another area of the house that needs to be maintained and cleaned regularly.