In their lifetime, one of the big questions many homeowners face is: Should we build an addition or buy a new home? Life changes, which include growing families, the desire to accommodate aging parents or a wish to expand or improve a home often prompt this question.
What are a few pros and cons of an making an addition to your home?
- PRO: There’s often a high cost to value ratio and, at resale, homeowners often recoup what they put in.
- PRO: It’s less expensive than purchasing a new home.
- PRO: Working with your design build firm, you can create space you want and will love.
- CON: You may still lose money when you sell. As we’ve seen with our current economy, there are no guarantees with anything.
- CON: Additions can bring increased costs in heating, cooling and with other items.
- CON: Additions can use up yard space.
Do you have questions about the feasibility of making an addition to your home? Call me anytime at (301) 946-2356 to discuss them. I’ll give you straight answers and share insight from my 20 years in the remodeling business.