The homes we live in when we are starting a family are wonderful at the start but we start to feel we are squeezed with additions to our family. This is when most of us are forced to make a decision between buying a new, larger home or to go for home additions. It is not just living space that comes to mind when we talk of home additions as the necessity for a new garage, a guest room, a bathroom for the kids, a larger kitchen for the growing family, or even a new study room could be the reason why we think of adding to the existing structure.



But how do you go about making additions to your existing home? Do you make a new floor, go down to make a basement, or extend outwards to take up from the open space available on the floor area? What do you do if all you want is to increase are size of the rooms that you already have? Where to get the advice and the right person to hand over the project? How to calculate the costs involved and how and where to arrange the finances from? These are some of the many questions that can be puzzling for an home owner when of a home addition.


One thing to always keep in mind when going in for home additions is to ascertain if any renovation or building exercise is going to add value to your existing house or not. This is a very important aspect as you are better off buying a new larger home if the property rates are down and you can manage to arrange finances. This is also because home addition is not a small exercise like painting the rooms that will be over in a few days and also require a small amount of money. Would you like to spend another $40000 to add to features in your present home if all it does is to increase the market value of your home by a mere $20000? This is why keeping an eye on the current market rate of the property in your neighborhood is a good idea rather than taking any sentimental decision.


Have you thought of where the finances will come from? If you have saved enough money to engage in making additions to your home, you are better off as compared to when you have to arrange the funds by getting mortgage loan from a bank. However, if your home addition plan adds substantial value to the value of the home and also adds to the comfort and living standards, there is no harm in taking a loan from the bank as you will repay in installments over the years.


Some other factors to think about before embarking on any home addition plan are the architectural considerations and the time schedule. You have to be prepared for investment of not just money but also a lot of time as well as effort on your part when going in for home additions.

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