Your home probably seemed so much bigger when you bought it. Over the years, whether you’ve added new family members or more stuff—or both—it’s starting to feel a lot more cramped. You might be considering selling your home, or adding on a room or two. Most people want to know whether an extension will add value to their house, and how much. Read on to learn more.
How much value could a house extension add?
A home extension’s value will depend on a number of factors, including size, room type and your current property value. Depending on the type of extension you choose, you could see an increase in value of anywhere from 6 to 23 percent.
Perhaps a better question to ask is how much of a return on your investment you’ll get. On average, homeowners who add a room onto their house will net a 71 percent ROI. Again, this depends on the size, type and quality of the extension.
Is extending your house worth it? Ultimately, you’ll need to do the research and decide whether adding the extension will be worth it in the long and short terms. Depending on your location, the market and current property value, you might want to sell and move to a bigger house. However, an extension is usually a great investment for many homeowners.
What kind of extensions add the most value?
If you want to get the biggest ROI from your extension, there are a few ways to boost your property value. First, commit to an extension that will appeal to the average buyer’s taste. That means using the same architectural style as the rest of the house. There’s no need to add a colonial wing to your craftsman cottage. You need a cohesive look, inside and out, to get the best return.
Next, choose an extension that offers the best ROI. The best return is usually seen on double bedrooms with an en suite bathroom—you’ll add as much as 23 percent to your home’s value. An extra bathroom usually nets about 6 percent, and a double bedroom alone will add 12 percent.
That doesn’t mean that other types of extensions aren’t worth considering, however. Depending on where you live and what kind of home you own, additions like garages can make your home a hot property. Consider what your house is lacking—besides space—and think about what would appeal to a prospective buyer. For example, if you’re in a family-centric suburb in a great school district, extra bedrooms and bathrooms probably make the most sense. Alternatively, you could extend your kitchen and dining room. Kitchens are a popular choice, and often appeal to buyers with large families, people who love hosting parties and home chefs.
Once you’ve decided on the type of extension you want, the only thing left to do is find the perfect designer and builder to handle your project. Jim Cope Construction LLC can help you design an appealing addition to your home. Call today to get started.