Reasons To Do A Home Addition Over Moving
Family dynamics and size change over time, and there comes a time when some families are forced to make some tough decisions about whether or not to move or do a home addition. Perhaps your kids may have overgrown your home or maybe your mushrooming business now requires a home office. So should you move to a completely new space or invest in a home addition instead?
The truth is that the decision to move or make a home addition is entirely up to you. in some cases, however, the decision may already have been made for you if you live in a flat or in a rented house. If you own your property or have a house that has sufficient space or a loft with adequate headroom, then you should seriously think about extending your home as a real possibility.
Here are some reasons to do a home addition over moving to another space:
It May Be Cheaper
When you move, there are typically a number of extra costs involved that can build up fast such as realtor fees, land transfer taxes, home inspection, home staging and of course, the lawyer’s fees. If you are unable to close your existing mortgage or transfer it to your new home, the costs could also escalate, not to mention the cost of moving to your new house and setting up all the utility accounts.
Unless you are moving to a fully custom home, you might also be forced to factor in the cost of renovating your new space. When all these costs are added up, it might be cheaper, in the long run, to simply invest in a home addition rather than move.
Least Disruptive Option
Home additions involve a relatively small amount of disruption compared to moving. If your home addition project is small, you may even be able to avoid foundational work, which will result in a stress-free project. Moving, on the other hand, involves a lot of planning and organization which can be hard to pull off if you are busy. If you have school going children, moving also means disrupting their social and academic lives, which can sometimes have a negative impact.
When designed and executed properly, a home addition can help you increase the value of your property which means that you will be able to recoup a huge fraction of your renovation expenses. If you do decide to sell your home eventually, a home addition that is well done will allow you to ask for a higher price.
Be sure to contact us at Golden Acre Renovations for any of your home addition questions or needs and book your free in-home addition consultation.