Sensible Phoenix Home Additions
There are many reasons why people choose to forge ahead with home additions versus upgrading to a new house today.
Some people choose to build additions because they have so many sentimental memories created in their current home. Others simply don’t have the funds for a down payment on a new house. Whatever the reason may be, it’s important to ensure that any home addition you decide on makes financial and functional sense.
When compared to other remodeling projects, home additions have suffered from a not-so-great reputation over the last few years. Yet, you would be surprised that you actually can see a significant return on investment (ROI) for a home addition project in the long run.
Before we get started, it’s important to understand that many home additions do not get back the full construction investment if the home is sold within a year. Consequently, your motivation for a custom home addition should not be 100 percent for financial gain. Consider adding a room because doing so will not only improve your daily lifestyle and experience, but also increase the overall appeal of your home when it eventually comes time to sell.
Consider These Scenarios
The number one factor to consider regarding home additions is that each project is unique. For example, if your five-bedroom home has a miniscule bathroom, adding a full bath is probably a good idea. Or, if your kitchen is bursting at the seams with gadgets, adding additional space can be a smart move.
Basically, home additions that solve ongoing livability challenges are financially smart. Here’s one way to think about it: Remember when you first bought your house? Can you remember some of the drawbacks regarding room layout and size? Now that you’ve lived in the home for a while, which rooms tend to get the most crowded? These areas are the perfect ones to consider for a home addition, especially if adding a room would make your home more comfortable and appealing.
Remodeling Magazine publishes an annual report on the cost vs. the value of various home remodeling projects (these numbers assume an addition of a specific size, with midrange materials). In order of the highest return, here are the average return on investments for various additions:
Wood Deck addition—80.5% ROI
Composite Deck addition—68% ROI
Second-Story Addition—64.1% ROI
Garage Addition—64.8% ROI
Family Room Addition—64.1% ROI
Master Suite Addition—61.7% ROI
Bathroom Addition—57.8% ROI
At the end of the day, your ultimate enjoyment of any home addition is the most important consideration.
There are few things more exciting than taking your existing house and making it your dream home. One of the most popular ways to change your home is with an add-on or room addition. If you are looking for a home addition contractor in Phoenix, then search no more. Visit Republic West Remodeling today.