There may come a day when you look around your house and think, “How did it shrink so fast?” That’s when you know it’s time to expand your living space.
But before you call up your real estate agent and start poring over new listings though, there’s an option you should consider: home additions. Read on to find out why you should consider home additions before anything else!
Saving on unnecessary costs
First things first, let’s talk money. If you need a bigger space, home additions are hands down much less expensive than buying a larger house. The price gap is even more apparent if you’re buying into a rising house market. You’d be swapping the current equity you’ve built up with this house for a new inflated mortgage. And don’t forget either to account for the selling and buying costs as well as the cost of moving. For those who want the best bang for their buck, home additions are the most economical solution.
Taking care of the practicalities
You may think you need a whole lot of space when, really, you only need one more room. By considering home additions first, it gives you a more grounded and realistic perspective about your needs. What’s more, it’s next to impossible to find a new house that fits your needs exactly because everyone has different preferences. The great thing about home additions is that they will be custom-designed to your specifications.
Keeping what you’ve got going on
It’s hard to let go of what’s right in front of you. All the happy memories in your home where you’ve watched your family grow. The neighbours who’ve looked out for you and became your best friends. The community groups you believe in and support. Even the local stores and restaurants you’re fond of. So why give them up at all?
Making the decision to add to your house means you can have your cake and eat it, too. It extends the beautiful memories you’ve already created in your current home with the opportunity for many more. You also get to maintain the relationships you’ve built up over the years in your neighbourhood and community.
Inspiring your creativity
When you set your mind to a home addition, you’ll find that you’re encouraged to get creative in maximizing your property space. Maybe you don’t actually use the backyard as much as you originally thought. Go with a rear addition! Or if the land around your house is limited, you can also consider building up with a second floor addition. Have fun looking for different ways you can make use of the space you have. You’d be surprised at how much more you can squeeze out of it.
Investing in your future
A commitment to home additions is a sign that you’re taking a long-term view on your home. In return, you receive peace of mind when you downsize in the future because the extra space can be rented out later on. It also adds value to your home even if you do decide to sell it one day.
For instance, the income potential of an added in-law suite would be very attractive to future buyers. Dining rooms are coming back into fashion and luxury backyards to impress guests are a big draw.
There are many benefits to putting home additions at the top of the list. The numbers of the economic benefits speak for themselves. The emotional benefits though are priceless.