Whether you’re seeking extra space or looking to bolster the resale value of your home, renovating your house to include an addition can be an excellent investment. But a home addition is not something to simply dive right into without the benefit of research and planning.
Here’s a look at some of the factors for homeowners to consider for this major decision:
Is it necessary?
According to the blog of home improvement TV network HGTV, the first question you must ask yourself is whether the addition is genuinely going to benefit your home and its value. Additions are more expensive than other forms of renovation. That makes them more likely to have a lower return on investment. So be sure you’re embarking on an addition as a project to add value both immediately and for the long term. On the other side of the equation, note that if neighboring homes have additions that yours does not, putting an addition on the house could be crucial if you intend to sell.