Are Home Additions Worth It?
Many homeowners eventually find themselves facing an overwhelming predicament: whether to buy a bigger house or transform their current home into their dream home.
According to HomeAdvisor.com, the average national cost of a room addition is approximately $40,825, with many people spending between $21,044 and $63,685.
As a homeowner, once you make the decision to move forward with a home addition, it is crucial to recognize that a project of this depth and scope is a significant investment in both time and money. However, it also is one, especially when done properly, that will ultimately increase the value of your home.
What Kind of Home Addition Do You Want?
There are many types of home additions for a typical home, including ground level additions, detached additions, and second-floor additions. Each has its advantages, drawbacks, and prices based on areas such as the size of the structure and the features that you want to include:
- Additional room. Homeowners often choose this type of addition to add an extra bedroom, recreation room or Arizona Room. There are typically two options: build out or build up. It is important to realize that this type of addition is a major project that involves constructing an additional building structure and fitting it in with the rest of your home.
- Detached additions. This kind of addition can range in price and style, with prefabricated, simple shed-like rooms without electricity or heat, or complete “guesthouses.”
Will an Addition Add Value to Your Home?
You should always consider the resale value of your home addition project even if you do not have plans to sell soon. If you are adding square footage or bedrooms/bathrooms, your investment may pay off significantly.
Value: The Latest Statistics
When adding on to a house, HomeAdvisor experts suggest that you can expect to see a Return on Investment (ROI) of approximately:
- 49 percent for Arizona rooms
- 53 percent for bathrooms
- 63 percent for master bedrooms
- 65 percent for a two-story addition (including an upstairs master suite and a downstairs living area)
Are You Ready to Take the Next Step?
Contact Republic West Remodeling today to find out additional answers to the question, “Are home additions worth it?” We offer the best home addition contractors in the Phoenix and Scottsdale area. Contact us today to schedule your free consultation.
