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Home additions can add square footage and value to your existing home, without the expenses incurred in the purchase of a new home. Most home additions consist of extending the size of your home by adding the new room to an exterior wall. Popular home additions are new bedrooms; dens, living rooms, dining rooms, and studies or studios can easily be included. A growing trend today is to add private spaces for aging parents, while sharing the traditional family areas.
Other popular home additions include increasing floor space by adding a second story to your existing home, sometimes called a "pop-top," which can increase the value, functionality, and comfort of your home, without robbing you of lawn or garden footage. Garages, carports, porches, decks, or sunrooms are other possibilities. In all instances, the value and equity of your home is increased along with its usability. A well-planned and executed addition can make a huge difference, in the livability and value of your home.
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| Adding on a kitchen, bathroom, or study can be a simple and inexpensive way to improve your home and your way of life. The possibilities for home additions are limited only by your imagination and your budget.
Here are some of the first steps to adding living space to your home:
1. Determine the location of your property lines
First, locate your property lines and develop a plot plan which would include your home, landscaping and the location of the utilities. This is important information because local codes have restrictions with regard to how close you can build to your neighbor.
2. Develop a design that complements your current floor plan
Next, look at the structure and the floor plan of your home. With the help of a residential designer or architect, develop a plan to provide the most attractive, useful and economical addition to your home.
3. Detail your plans
The last step before work begins is to have detailed descriptions of the materials and the scope of the work to be done. How much detail? More. It is not possible to have too much. Putting the details in writing eliminates confusion about the products to be used and the work to be done, so builders can give accurate bids and buyers can compare them easily. If all you are concerned about is the lowest bid on a certain item, details are less important. However, if you want the hardware to match what you have in the rest of the house, or you don't want it to fall apart in your hand within the year, you need to see the specific type (brand name, style numbers, etc.) of hardware detailed in your materials list. That way you can see exactly where the bids really differ in order to make more educated choices.
Understand that there will be strange people ripping and tearing up the home you dearly love. But keep the final outcome in focus. All these precautions do take time to research and put in writing, but they will save you time and grief in the long run.
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1. Determine the location of your property lines
First, locate your property lines and develop a plot plan which would include your home, landscaping and the location of the utilities. This is important information because local codes have restrictions with regard to how close you can build to your neighbor.
2. Develop a design that complements your current floor plan
Next, look at the structure and the floor plan of your home. With the help of a residential designer or architect, develop a plan to provide the most attractive, useful and economical addition to your home.
3. Detail your plans
The last step before work begins is to have detailed descriptions of the materials and the scope of the work to be done. How much detail? More. It is not possible to have too much. Putting the details in writing eliminates confusion about the products to be used and the work to be done, so builders can give accurate bids and buyers can compare them easily. If all you are concerned about is the lowest bid on a certain item, details are less important. However, if you want the hardware to match what you have in the rest of the house, or you don't want it to fall apart in your hand within the year, you need to see the specific type (brand name, style numbers, etc.) of hardware detailed in your materials list. That way you can see exactly where the bids really differ in order to make more educated choices.
Understand that there will be strange people ripping and tearing up the home you dearly love. But keep the final outcome in focus. All these precautions do take time to research and put in writing, but they will save you time and grief in the long run.
On a national average, most improvements will not recoup your full investment if you sell the house within a year. Of course, exceptions abound, depending upon the region, the vibrancy of the real estate market, and the type and cost of improvements.
In hot real estate markets filled with aging houses, returns on investment are higher than returns in slower areas, and the returns generally exceed the costs of improvements. Certain kinds of additions do much better in particular markets.
Which improvements return more than others? Minor kitchen remodels are always a standout, but the national average for cost recouped is only 88 percent. In other words, in higher-end real estate areas, if you revamp cabinets, change appliances, and recover your floors, you're likely to get your money back—and then some. But in slow-moving areas, you won't. Bath remodels and major kitchen remodels are a close second. Improvements such as adding a home office or replacing windows or siding are chancier. Your results will depend heavily upon where you live.
Of course, certain improvements give a house more curb appeal or help it to sell more quickly. Replacing shoddy siding on a house will not only boost the price by more than the job's cost but also make the house look more appealing to more buyers.
Then again, if you intend to live in your home for years, short-term return-on-investment figures don't really matter. The longer you stay in your home, the longer you enjoy a higher quality of life because of the improvements you make. And you can't put a price on that. |
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