If you're considering adding an extra room to your home, you already know it's a complicated task. Budgets and plans need to be made, contractors hired, permits applied for, and construction begun. All that work may very well be worth it though, since home additions come with many attractive benefits. Here are four major benefits of a home addition:
Great for Extra Family Members
These days, many households are finding a need to make room for extra family members. Many adult children end up moving back in with their parents, at least temporarily. In fact, around 26% of adults aged 18-34 currently live back home with their parents. In other cases, having a new baby or having your elderly parents move in are reasons to need extra space. Adding an additional room to your home can be a great way to accommodate these extra family members while still allowing everyone to have enough space and privacy to be truly comfortable.
Can Be Rented Out for Extra Income
Investing in an additional room can pay for itself eventually if you rent the room out for extra income on a for-rent-by-owner website. Many tourists prefer renting a room from a local over staying in a more expensive and less personal hotel. This can be an especially lucrative option if you live in a city that is heavily visited by out-of-towners.
May Add Value to Your Home
It depends on your specific home and the local real estate market, but in many cases an addition will add to the value of your home. Potential home buyers will find the possibilities that come from the additional space appealing. Since square footage is one factor in determining home values and real estate prices, an addition can definitely pay off when it's time to sell.
Helps You Avoid Moving
As your family grows and your lifestyle evolves, you may feel pressured to move into a bigger house. Moving is inconvenient, expensive, and can also be emotionally difficult if you love and are attached to your home and the memories you've created there. Adding a room can be a great alternative, since it provides you with the extra space you need while allowing you to stay put in your beloved home.
By adding a room to your home, you and your family will soon be enjoying these fantastic perks, and appreciating your home more than ever. Contact a professional business, like Bohnstedt Construction, to discuss the details for constructing your home's addition.