Build an Addition or Buy a New Home?
The decision to build a home addition or to simply purchase a new home can be a difficult task. If you have been unenthusiastic about the home you have been living in for some time, it may be time to find a new one. On the other hand, if you pictured this home as your forever home when you first bought it and you just need more space, an addition may be the right fit for you. Consider these suggestions before making your final decision!
- It can be more affordable to add an addition to your home rather than purchase a new one with the additional square footage you require.
- A home addition is completely tailored to you! Get exactly what you want by picking out the colors, materials and design.
- Adding square footage adds value to your home. In some cases you will be able to recoup part of the cost of home additions in a sale, especially if you are updating a bathroom or kitchen.
- Take a look at the current real estate market. Is it worth putting your home on the market and selling at the moment? On the other hand, if the market is down, finding another house will be easier with the competitive prices.
- Get ready to become friends with your contractor! Home additions do not happen overnight and you need to be ready for the ongoing work and any surprises that may come up along the way. However, if you choose the right contractor they will make this process a breeze for you. (Take a look at our tips on How to Hire the Perfect Home Remodeler here)
- Consider the number one aspect every realtor will say is most important. Location, location, location! Is your current home in the perfect location with wonderful schools, parks and shops? Take some time to reflect and decide whether moving out of the area completely, is right for you and your family.
When you need more space and your current home isn’t providing that for you, the time has come to decide, renovation or relocation? Choosing the right venture for both you and your family can be tricky. Sit down, weigh out the pros and cons and we’re sure you will make the right decision!
