Has your family expanded recently? Perhaps you’re simply running out of space at your current home. You may be in desperate need of a new bedroom, bathroom, and or storage space. The vast majority of people in this situation are under the false impression that they need to buy a bigger house. However, you may love your neighbors and your neighborhood. You may not want to enroll your children in a different school. You may not want to move further away from work. You may not want to go through the stress of buying a new home.
Just think about it for a minute or two. You need to pack your entire home and unpack again in a new place. Before that can even happen, you need to search for homes online and then in person? We’re currently in a sellers market in New England. That means there are actually more people searching for houses than there are available houses on the market. That’s why people are getting into bidding wars and are paying well over asking price. That works out great for people who are looking to sell their larger house and scale down. In essence, they can cash out.
However, if you’re looking to buy a larger house than you are on the opposite side of the fence. Yes, you’ll sell your current home for more money, but you’ll be overpaying for a larger house. The bottom line is that you will lose out from a financial situation. Speaking of finances, you’re also going to need to apply and get approved for a mortgage to purchase your new home. Your new mortgage will typically hinge upon you selling your current home prior to taking possession of the new house. Timing that all out correctly can be a bit stressful to say the least.
If you haven’t guessed it yet, the best reason to build a room addition to your home is because it’s less stressful compared to moving. In fact, room additions are the most cost effective and convenient solution to adding more space to your home. It will certainly save you the trouble of trying to find and outbid other people for the perfect house somewhere else. Adding a room addition to your home will also help you avoid moving, which tends to be a long and tiring endeavor. Furthermore, a room addition is a great way to add value to your existing property.
Let’s say that you’re adding a master bedroom with private master bathroom. Adding to the bedroom count, bathroom count, and overall square footage of your home adds value or equity. If you currently have a three bedroom/ two bathroom home turning it into a four bedroom/ three bathroom home automatically increases the value of the property. The residential housing market in Connecticut historically grows over time. For example, it could easily grow 30% over the next 10 years. If your addition adds $100,000 of value now, that equals $130,000 of value or equity in the future.
For more information about room additions in Connecticut or Massachusetts please contact us today at 860-341-6373. DBC Solutions takes great pride in providing the highest quality custom carpentry and contracting services in the home improvement industry. Our business model has been the same for 17 years. Doing things the right way the first time every time is the only way to do it.