If you’re considering a room addition, you likely already have your design inspiration from magazines, pictures online or even a friend’s house. The best part of creating a new space is the opportunity to make it your own. Whether you’re looking to add more entertainment space or give your family room to grow, adding a room to your Los Angeles home is a big decision, and you probably have a lot of questions. We’ve compiled a list of commonly asked questions about home additions to help you make an informed decision about your room addition.
Is It Worth Adding an Addition?
Ultimately, it depends on you and your family’s needs. A home addition is a big undertaking, and the first thing you should consider is your reason for building an addition. Are you doing it for the convenience or luxury of an extra room, or are you looking to add to your property value? Luckily, a room addition can do both of these things for your home. Adding an extra room provides your family with space to grow while also increasing your home’s value. An addition is something your family can enjoy for years to come. Adding a new room to your home is also an excellent way to personalize your property. If you’ve dreamt of having a sunroom that steps out to a beautiful deck where you can entertain family and friends, a room addition can be the perfect way to make the home you already love into a dream come true.
How Much Value Does a Room Addition Add?
A room addition can add space and resale value to your home. Think of it as a long-term investment. While any room that you choose to add will add value to your property, specific rooms have a higher potential return on investment (ROI) value than others. For example, bedroom and bathroom additions can have an ROI of 50-60% or even higher for a master suite. Because a kitchen can be a big selling point of a house, the return on a kitchen expansion or addition can easily reach 100%, but a good starting estimate is 50%. Even the addition of a sunroom can add around 50% return value to your home. Although not exactly a room addition, adding a deck to your house promotes your outdoor space while earning a return of up to 80%. An addition to your home can add value to your personal life, too. By creating a space that you can love and enjoy for years to come, you and your family get more out of the time you spend at home.
Is It Cheaper to Move or Build an Addition?
Don’t assume one option will be cheaper than the other. Whether or not your addition would be cheaper than moving depends on what you’re looking to add to your home. Older homes can be more expensive to renovate or add to because more of the structure may need to be updated. In these cases, it’s possible to find everything you’re looking for in a different home. Still, some people find it impossible to imagine living anywhere else. More than 75% of Americans would choose to renovate their current home over putting down a down payment on a new home. Both moving and renovating can be challenging. Consider the following questions to help decide which is best for you:
1. What Would You Change About Your Current Home?
Think about what you don’t like about your current home or what may need to be repaired or updated. If it’s related to the size or condition of your house, renovation or adding a room might make more sense. However, if the renovation would end up being more of a complete home makeover with more replacements than your budget can handle, consider moving. If the things you wish you could change about your home simply can’t be changed with an addition, like the size of your lot or a lengthy commute, then moving would be your best option.
2. What Can You Actually Afford?
Get a cost estimate for a room addition and compare it to houses on the market that have everything you want. When budgeting for an addition, account for fluctuations in cost, surprise fixes and emergencies. Also, consider if you’ll need to stay somewhere else during the construction and how much that may cost. When budgeting for a new home, keep in mind that on top of your down payment, your monthly mortgage payment may be higher than you previously paid. Compare what you’re willing and able to spend on an addition with the price of a new house to choose the most cost-effective option for you.
3. Do You Have Time for a Renovation?
If you decide you can afford to add a room, the next thing to think about is if you’re willing to live in a construction site until it’s finished. Home additions require a lot of planning and work. They can’t be completed overnight. However, buying and selling a home can take just as long or longer. Evaluate your needs and decide where you want to spend your time and money.
How Long Does It Take to Add a Room Addition?
On average, a room addition can take three to four months of construction. All the planning and designing can take equally as long. You’ll have to get used to having contractors and workers around your house for a while, so try to make the best of it. Creating a strong relationship with your contractors is a positive way to keep the project advancing smoothly. Offering them a snack or cool drink of water on a hot afternoon will let them know you appreciate all the work they’re doing to finish your home addition.
Get a Room Addition Estimate From Daniel’s Development Group Inc.
If you’re looking for a room addition contractor in Los Angeles, check out the services provided by Daniel’s Development Group Inc. As a family-owned and -operated firm, we’re dedicated to personally managing your project from start to finish to make your room addition easy on your family and home. Whether you’re looking to add space for your growing family or want to add value to your home in the form of a luxurious master suite, visit us online to get a free estimate from one of our professionals or call us at 1-800-507-5001.