The Benefits of Building a Home Additions
While it might be tempting to make a major change and move when your home simply isn’t big enough, or to bring out the bulldozers and start from scratch, such a major change is not always the most profitable option. When it comes to adding space to your home, the best thing you can do for your wallet isn’t change homes entirely or build something new, it’s actually a home addition. A home addition generally involves adding on to your home’s existing structure rather than changing it entirely. You can build outwards, on top, or beneath your current home, in order to add that much needed room. This was, extra bedrooms, living rooms, room extensions, or even entire floors can be built using your existing structure. For expanding families, a new bedroom is always useful. However, most people consider upgrading in terms of moving into a new, larger, home. This is when a home addition is your best possible option. Here are some reasons why it’s better to expand rather than raze.
Building a new home incurs thousands in demolition payments.
You might think that bulldozing your home is an easy thing, but as it turns out, the costs of demolition are quite significant. You might be looking at a cost of anywhere from 8-15 thousand on top of the costs of new building. With a home addition, you do not need to demolish your existing structure, but simply add on to it. This saves you and your family money which can then be put into other renovation costs.
Moving homes in today’s market is a huge pain in your… wallet.
Home owners might be temped to sell their current home and buy a larger one in order to gain more space. While this might work out for some, others are left with gaping holes in their wallets after all the additional money spent on packing, moving, advertising, and hiring a real estate agent. Not only are moving costs significant, today’s housing market will make it incredibly difficult to switch your current home for another one without wait time, mark-ups, extensive bidding and so on. In addition, switching neighbourhoods and schools is always difficult for families with children, as it necessitates much adjustment on their part. A home addition will allow you to make room for your expanding family without the necessity of moving away from your neighbourhood.
A home addition will allow you to renovate, even completely, but for less money.
If you’ve been looking forward to re-doing your home and making it the modern, artistic masterpiece you’ve been dreaming of, realize that you don’t need to rent a bulldozer to do so. Home additions are often projects linked with the renovation of the home. Many firms will offer packages that will include both the building of a home addition as well as renovation of the rest of your home. As home addition builds overtop of your existing structure, you will be able to save significant money from the costs of building new foundation, walls and support.
Refinance your mortgage.
With significant home additions, the value of your house goes up. This will allow you to re-finance your mortgage and gain significant money from the bank, which you can put into the costs of construction.
Black Pearl Custom Homes is a company based in North York, ON. We specialize in home additions, renovation and construction and offer a unique home building experience. Servicing all of the GTA, we are happy to make long term arrangements or out of area agreements. Contact us by email at firstname.lastname@example.org, call us at (416) 418-7660with any of your home building inquiries and receive a free quote. For our interior work portfolio, click here.