10 May Is a Home Addition Worth the Cost?
Many people are choosing to add on to their home rather then buy a new home, especially in the Bay Area since home prices are getting so expensive. So it is no surprise that we get a lot of people asking about additions, but the real question is, is a home addition worth the cost? There are many factors to consider when it comes to answering this question and it is isn’t just a simple yes or no.
What type of Room are you Adding? This is an important question to ask because the price per square foot changes dependent on what is going into that room. Consider a bathroom for instance, a lot more is going into that space than just a bedroom. There is plumbing, electrical, tile and many other materials going into this room. Where as a bedroom is a lot less material going into this space. However and the addition of a bathroom will probably get you more of a return on your investment then a bedroom.
Are you Utilizing the Space Properly? A very important factor to consider when adding space is to make sure there is a good flow to the new space. Does it feel like a room was just plopped onto the back of the house or is there a good transition and flow into the new space so it doesn’t feel like an addition. If you are adding a second story are you taking advantage of any views that you may have? These are all things to consider in order to create the most bang for your buck with your home addition.
Does it fit the Neighborhood? If every home on your street is one story, perhaps a two story addition needs to be reconsidered? If your home addition will stick out from the rest of the neighborhood, it may not make it as desirable. You want to make sure you stay within the same style and theme of the neighborhood, so as to not upset neighbors and to create better resale value for yourself. You also never want price yourself outside of your neighborhood, by building a large home that is not affordable.
The most important thing to remember about your addition is that is ultimately for you and your family. If it is going to create a better living space for everyone then there is no real price on that addition to your home.