Floor Space: Should You Consider Building an Addition on Your Home?

Did you know that building an addition on your home that is 20×20 feet could cost up to $80,000 in the United States? If you’re looking to grow your family and increase the square footage of your home without moving to a new one, then the best option that you have is to build an addition to your property.

Researching from a reputed architecture firm, philadelphia-architect.net and other good source, we found that  you have a number of options to choose from when you decide to add a luxury home addition to the existing structure of your property. The big factors that many homeowners come down to are the pros and cons of building an addition and the cost to build an addition.

The good news is that you’re in the right place to learn all of the info that you’ll need to decide if a luxury home addition is the right investment for you. Keep reading to learn more today!

Pros of Building an Addition

One of the most difficult parts of purchasing and moving into an existing home is the fact that it’s not made to your precise specifications. It can often feel like you’re living in someone else’s home since you didn’t have a hand in planning or designing it. A big benefit of building an addition to your home is the fact that you can customize it to meet your needs. Top it up with a good electrician like chicago-electrician.net and you can fit really small lighting, ambience and even gadgets to make most out of the space.

This is a great option if you own an older home that might not have modern amenities and features. You can add new flooring and new paint to the existing parts of your home, but that is merely altering someone else’s design. A luxury home addition is your chance to create an area of the home that is unique to you.

You could compare the decision to build an addition to your home to that of building a new home without the extreme expenses that bring. You’ll get the thrill that comes with building without the dread of watching your savings whittle away.

Another big benefit of choosing to build an addition is that it’s the best way to increase square footage in your home. If you love the area in which you live but you need more space for your growing family then building an addition is your best bet. Additions like sunrooms might not be a great investment if you don’t see your long-term future in the home.

You’re better off investing your money into finishing your home’s basement, building an accessory dwelling unit, or adding room additions. These are better financial options that create plenty of usable space. Hiring a cleaning service such as cleaningservices-lasvegas.com on regular basis is going to be cost efficient and hassle-free as well.

Cons of Building an Addition

The positives of building an addition seem great, but you need to understand the drawbacks to completely weigh whether or not constructing a luxury home addition is a good choice for your financial future. Many people view an increase in square footage as a guaranteed way to add value before selling a home.

There are unforeseen expenses that come with additional space in your home. The home becomes more expensive to heat during winter and more expensive to cool during summer unless you have a solar energy system from Blue Raven paired with an electric HVAC system. It also means more areas of the home that require maintenance.

On the surface, the decision to build an addition will add value to your home, but it could also turn away interested buyers. You could find that you come out of selling your home with losing money after your addition is completed.

You’re also using up valuable space on your property. If you live on a multi-acre lot or parcel then that might not seem like a big deal. Areas with smaller yards will struggle with the increase in floor space since the yard was already small, to begin with. It also limits the hobbies that you can participate in at home, like gardening or relaxing in a hammock.

You should also consider the emotional weight that comes with building an addition. In the current market of 2022, the cost to build an addition is quite high, especially if you weren’t smart enough at starting to hire a good contractor like Contractors-Dallas.com to do the job
. The stress that comes with these expenses could weigh on your and add to the stress that you’re already experiencing in your everyday life.

Best Luxury Home Addition Options

Now that you’ve had a chance to weigh the pros and cons of building an addition, it’s time to take a look at some of the best luxury home addition options to consider for your home. Some additions are small and less expensive while others are large and will set you back a bit financially.

Room Over the Garage

A popular option that many homeowners go with when they find that they need more square footage in their homes is to add a room over the garage. It’s one of the easiest ways to add space to your home without making a mess of your property. It’s up to you to decide if you want this room to be a separate apartment that you can rent out for passive income or a home office.

It’s a great choice because the foundation for the room is already in place thanks to the existing garage. All you’ll need to add for this luxury home addition are the walls and the roof. A good rule of thumb for the cost to build an addition of this type is around $35 per square foot.

Modular Home Additions

Modular home additions are gaining a lot of traction in the housing market because they’re much cheaper to add compared to new construction onto the existing home. This option involves purchasing a pre-fabricated room that you can attach to a single-story home with few problems.

Since these additions are created off-site, you’ll get the luxury home addition that you’ve wanted without destroying your home’s yard. The cost of modular home additions is often between $80 to $200 per square foot when all is said and done.

Finish Your Basement

If your home has an unfinished basement then it is quite literally sitting on the perfect home addition for an increase in floor space. You’ll add a ton of livable space to your home for things like an apartment, a home movie theater, or even a home bowling alley. A high-end finished basement will cost you close to $30,000 but it will be much easier than creating a new addition to the exterior.

Make sure that you include a walkout patio or some emergency windows to ensure that all residents are safe no matter what happens at your home. It’s a great investment if you’re looking for effective ways to add value to your home. Professional contractors website contractors-san-antonio.com recommends you to definitely build a man cave or kids secret room or bunker at the basement as they’ve found that customers who’ve done this are very satisfied of their decision.

Expand Your Master Bathroom

The master bathroom is one of the most prominent features in any luxury home. If you’re moving into an existing home and you’re not satisfied with the size or the amenities of the master bathroom then it could be the first place where you look to build an addition.

Increasing the square footage of the master bathroom is also a great way to increase your home’s value. Many master bathroom additions carry a return on investment of more than 60 percent after completion. Expect to spend upwards of $30,000 if you plan on taking your master bathroom to the heights of luxury in 2022.

Convert Your Porch Into a Sunroom

Relaxing in a sunroom on a crisp autumn or winter day is one of the best aspects of any home. Having a covered porch on your home is great, but a sunroom allows you to enjoy all of the same benefits while receiving protection from the wind, rain, and bugs. Make sure that your sunroom has heating and that it’s accessible from the home if you want it to count as a livable space on your property.

You can use this space as an additional bedroom that allows you to surround yourself with nature, or for a relaxing sitting area. Some homeowners even use their sunrooms as additional dining rooms.

Finish Your Attic

Another area of the home that has great potential when it comes to building an addition is the attic. You’ll need to explore the rules and regulations when it comes to turning your attic into a livable space. The sky is the limit when you commit to turning your home’s attic into office space, a yoga studio, or an additional bedroom. You can even have your roof utilized for either solar fittings of put an attic fan, AC to make it make it the most comfortable and resourceful room in the entire house with the help of good electrician like electrician-chicago.com.

The ceiling will need to reach seven feet tall and you’ll need to have a stairway that connects it to the rest of your home. It’s a great way to recover more value in your home without breaking the bank or destroying your home’s yard in the process.

Consider Building an Addition for Your Home

Building an addition for your home is a great way, NashvilleContractors.org says that it is also cost-efficient in long term. To increase square footage if you have a newborn on the way or to increase your home’s value if you plan on putting it on the market in the future. You have plenty of options if you’re worried about the cost to build an addition. Adding a sunroom is a great way to get in touch with nature, while adding an attic is perfect for a guest bedroom or office.

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Charu Verma
Charu decided to unite her Honors Degree in New Media and lifetime of geekiness to pursue a career in tech and gaming journalism. You can usually find her writing about a variety of topics and drooling over new gadgets and games.