Are you thinking about adding on to your home? Whether it’s because you’ve outgrown the space or because you simply think an addition will add value to your home, planning an addition is no easy task. What’s more, it can cost quite a bit of money. Here are some important questions you must ask yourself before you undertake a home addition.
How Much Are You Willing to Spend? When it comes to a home addition, most people think about the value their addition will add–but not how much it will cost in the first place. Even a small add-on like a bathroom can cost $25,000 or more. In addition to the cost of the add-on, your homeowners insurance costs will likely rise. You should plan on spending anywhere between $200 to $600 per square foot for your addition, and you may end up spending even more if your contractor runs into a problem. Budget accordingly, and be sure to run comps in your area so you know if adding square footage is the right move for your neighborhood.
Who Will You Hire? You’ve heard the stories of friends or family getting burned by contractors. Whether the contractor doesn’t get proper licensing for the work or they don’t complete work in a timely manner, choosing the wrong contractor can prove to be a costly mistake. Do your research prior to hiring a contractor. Not only should you ask friends and family for their recommendations, you should also perform online searches. Look for a contractor’s rating with the BBB and read both negative and positive reviews of their work posted on Google or sites like Angie’s List.
What Inconveniences Are You Willing to Put Up With? Like any remodeling project, adding an addition can be time consuming, messy, and disruptive. No doubt you’ll be inconvenienced. Make sure you carefully think through any additions and consider what you’ll need in order to make it through five to seven weeks of construction. Whether that means setting up a temporary kitchen or finding a co-op space because you normally work from home, planning ahead can help make everything run a lot more smoothly.
Adding an addition to your home is exciting. As long as you take time to consider costs, contractors, and potential inconveniences–as well as plan for them–you should have a good experience. Remember, if you need help remodeling after an event such as a flood or a fire, just call the experts at Paul Davis to help: 1-888-473-7669.