Your home is your headquarters for your family, but sometimes your life changes and your home needs to as well to be accommodating. Perhaps you have a growing family, a need for home office or just more square footage is required for comfortable living. If this happens, you have the choice of either moving to another home or enhancing your current one. Here is a closer look at what types of additions there are and the value they bring.
If you don’t have a need for an entire new room or floor to be be added to your home, consider a “bump out” for more square footage. Maybe you need a larger kitchen or living room where a bump out can add an extra 50 or 100 square feet of space. These can vary in price from anywhere around $5,000 to $30,000 depending on the situation. Although these can be costly on a per square foot basis, they can be cheaper overall as they typically require less permitting and contractors.
These are the most typical and can be expensive. Adding on a whole room can cost more than $50,000 as many contractors can be required with electrical, plumbing or HVAC work. However, these builds oftentimes add to the resale of your home where you can recoup the expense. For example, adding a new garage can add around $40,000 to your home’s resale value depending on your region of the country.
Remodels can be easier to tackle as you don’t have to knock down as many walls to give your home an improvement. Some interior remodels don’t require permitting, but check with your local permit office before you get started. You can also save some money by doing some of the work yourself depending on your level of skill.
Sunrooms are usually made up of walls of windows or sliding doors that allow you to enjoy the outdoors without the full exposure to the elements. A basic sunroom without HVAC can cost around $15,000 while an fully framed aluminum one can be upwards of $22,000.
Do you have a basement, attic or area that is used for storage that could be converted into regular living space? Consider converting it into another bedroom, office or media room so it can be usable and eventually saleable square footage when you sell. With there being a large range of options there is also a range of cost that this can run. Be sure that you follow proper procedures and do any conversions the right way. Attain the necessary permits and hire experienced contractors as this addition can significantly increase your property’s value when it comes time to sell.