Adding More Space Too Your Home
If you are looking to make an investment into your home, adding an additional room is a good move especially in an area where the housing market is strong. Chris Brown of Integrity Restoration is a contractor in San Diego CA and he says over the last several years the request for room additions has increased compared to prior years. Everything from adding additional square footage to the house to a simple sunroom addition has become popular. Most of the demand is from homeowners who cannot afford to move up to a larger home in there neighbor hood, but can afford a room addition to gain more space. Chris met with several customers who were ready to put their house up for sale. After the homeowner researched homes to buy many decided they would rather stay in their current home and make improvements to upgrade the house.
According to a study done in 2012 by the National Association of Realtors, for every 1000 square feet that is added to your home will increase the sales price by 25 percent.
Chris says by adding a bathroom to your home the return on investment averages 82 percent. Other additions like family rooms, sunrooms, and bedrooms can return anywhere from 60 to 75 percent of the money you spent on the remodel or addition. This does not take into consideration the value of your own enjoyment from the improvements you made to your home.
In today’s world more people are looking at adding more dedicated rooms for exercise, crafts, hobbies or a home office.
One recommendation when adding additional square footage to your home, try not to overbuild, the last thing you want is to price your house right out of the neighborhood.