Adding a home extension is not a project that everyone needs to enter into. It is expensive, time-consuming, and in some ways, quite a hassle. However, adding another room to your house may be a very practical option if you are in one of a handful of very specific situations. Here are five of the major reasons a home extension may be the right choice for you and your property.
1.Too Much Yard, Not Enough Living Space
If your current floor plan is perfectly acceptable, but you want to increase the value of your property, an extension may be a perfect choice.
Having an expansive yard is never a bad thing, but if you do not have enough house to match that yard, chances are you're in a prime position for adding a home extension. Small houses can get cramped, which is certainly a concern for the people living in them right now, but when it comes time to put your home on the market, prospective buyers are likely to see that limited living space as an even larger drawback. If you've got plenty of yard space to spare, an extension will allow you to enjoy your property more fully while simultaneously preparing your house to go on the market in the future.
2.Your Garage, Basement, and/or Attic Are Not Good Candidates for Conversion
Obviously, the cost of a home extension makes this project somewhat cost-prohibitive; it is for this reason that many homeowners choose to convert a part of their home that is already there into a living area. However, garages that are already offering limited space, basements that are prone to copious amounts of moisture or are very old, and attics that are full of ductwork or are simply too small to be of much use are common. These situations make a home extension more comparable to the price of conversion and, as an added bonus, the extension will typically give you more versatility in how the space can be built and used.
3.You Plan on Renting the Space Out
If your current floor plan is perfectly acceptable, but you want to increase the value of your property, an extension may be a perfect choice. Creating an addition that functions as its own, independent apartment will definitely up your resale value, but it will also provide you with a fantastic way to recover the money spent on its construction. By combining both the additional resale value and the income to be had from renting, this investment can certainly pay for itself. Additionally, if you choose not to rent after the project is through, you'll have a guest house that visiting friends and family will find extremely inviting.
4.You Have a Specific Need that Cannot Be Met Anywhere Else in the Home
While some people's passions can be practiced just about anywhere, others need a very specific location with a particular set of characteristics in order to properly do what they love. Whether it is developing pictures, working out, watching movies in a setting that feels like a real theater, or any number of other activities that the main structure of your house simply will not support, a home extension can fit the bill to your exact specifications. Very specific remodels of any kind are only a good idea, however, if you plan on occupying the same residence for a significant amount of time. If you think you may sell in the foreseeable future, building an extension to house a private bowling alley or saltwater aquarium is generally a poor investment.
5.Your Home Lacks a Master Bedroom or Living Room
Modern homes will typically have both of these spaces by design, so when prospective buyers go house hunting, they expect to see these areas. Many older homes may lack these rooms, though, and if yours does, adding them on can be a good investment. It is important to note that these additions will most likely need to be lived in for a while to recoup their real value. In some areas of the country, home extensions are currently a very wise investment because they will return more than they cost to build almost immediately; for most of us, though, the true value in building a new master bedroom or living room is in the quality they add to everyday life rather than to our asking price.