Consider These Factors for Final Room Addition Cost

Consider These Factors for Final Room Addition CostIf you are planning (or just considering) a home addition, one of the most important initial priorities will be trying to calculate a rough estimate of the cost, and figuring out if that can fit into your budget.

You will likely start your calculations by coming up with a plan for the proposed space, figuring out approximate measurements and then getting estimates for the work and/or materials.

That’s a good place to start, and can give you some initial figures to use as a starting point for your deliberations. However, there are other issues that you will also want to take into account. These are costs and financial elements that people often overlook during the planning stages of a home addition project.

In addition to the costs of the actual construction itself, you will also want to think about any one-time or ongoing expenses that might result from the increased space. Chief among these would be any increase in your property taxes (if applicable), homeowners insurance or other fees that are impacted by the size or layout of your space. Of course, you may also see some sort of increase in your utility bills after your home expands in size, although those costs may be difficult to predict in advance.

While added costs and expenses are important to keep in mind, you also don’t want to forget about factors that could help offset at least some of these costs. There may be ways that your room addition can actually benefit you financially. For example, if the enlarged square footage of your home will allow you to eliminate or avoid costs you would otherwise incur, that can affect the final bottom line. An example would be if your senior parent could then live in the household rather than paying for a separate apartment (which may not be able to fully accommodate their current needs anyway, especially if they are unable to live independently any longer).

This shows why it is imperative to take your time in the planning stages and try to address all possible factors that may eventually impact your decision and the resulting impact on your household, financially and otherwise.

With our extensive experience in this area, RW Remodeling can help you in accurately evaluating a room addition cost in Phoenix.

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