Whether it is a new addition to the family, a new lifestyle need or simply the desire to spruce up the old homestead, home additions can make the difference between increasing the functionality of your property and looking for a realtor to undertake the costly process of selling your home and buying another one. But there are some rules to the process. If you want to maximize your return on investment and also enhance the overall look and feel of your home, three cardinal rules set you up for success.
- Go for size. When you are considering an addition to your home, This Old House experts urge consumers to add functional rooms such as master suites or family rooms. Noting that “bigger homes command higher prices,” going for an adequate square footage is a must. While it is tempting to add just a small sun room, remember that these additions do not generally fare all that well when you put the house on the market at some point in the future.
- Maintain the design. It would be foolhardy to live in a Cape Cod style home and consider an addition that has a completely different design style. Instead, the new construction must enhance the look and curb appeal of your home – not detract from it. As well, look around the neighborhood. If most folks went with backyard additions, it can be risky to be the one homeowner who builds up. If the completed home no longer really fits with the overall look and feel of the neighborhood, you may have a difficult time reselling the property later on.
- Balance foresight with function. It is unwise to tailor your home addition solely to the return on investment calculations of today’s real estate market. After all, you are not building for the resale customer but for the very real and current needs of your family. While foresight is a valid consideration when adding a luxurious sun room, it pales when compared to the need for a third or fourth bedroom. Choose an addition that meets your needs, allows you to enjoy your home more and also enables your family to get more use out of the property today. Besides, return on investment considerations are always subject to change.
What home additions are right for your property today? The experts at Smith Thomas & Smith have quite a few suggestions and the data to back up our claims. Contact us today for more information and to get started on your project.