You love your home, but maybe those cramped spaces are becoming a problem and you’ve been considering a move. Perhaps your growing family requires more space or your home business is taking up too much room. Think beyond the current state of the housing market and consider how Northern Virginia additions can help expand your living space affordably and efficiently.
Home Additions Cost Much Less Than a New Home
Compare the time and expenses of moving with the time and expenses of a home addition project. Assuming you’re happy with your neighborhood and the structure of your home, adding to your home costs much less than constructing a new one.
Moving incurs many costs, including legal fees, taxes, real estate agent fees and other miscellaneous expenses. Hidden costs and super-tight budgets create serious stress during a move. Although home improvements come with a significant amount of costs and stresses as well, you’re likely to find a better level of control with an experienced contractor on your side.
Planning for Northern Virginia additions means working with familiar factors. You’ve probably lived in your house for some time, and know what to expect from the soil, neighborhood and structure. Pull out the maintenance history for clues to would-be issues and talk to contractors that have worked at your home in the past. These measures help you to reduce the likelihood of unpleasant surprises and additional costs creeping up during the process.
Dealing With Market Volatility
You may be able to nab a great deal on property in the current real estate market, but those conditions also affect the asking price of your current home. Will you realistically be able to recoup all of the investments you’ve made in your property? Or will you need to take a loss to make the move?
Professional real estate agents can help you to find the right sized home within your preferred area, but prices are dictated by market demand and you may end up paying out more than you have realized from your existing home. Although the cost of building materials and contractors does fluctuate with time, there is more certainty. The industry is somewhat predictable and much steadier than the housing market, making accurate home addition budgets possible to prepare, even months beforehand.
Daily Life Carries On
In most cases homeowners can continue on with daily life during a home addition project. Depending on the rooms affected by demolition and construction, you may need to relocate certain furniture or handle your day-to-day tasks differently, but for the most part life goes on. Careful planning helps reduce relocation costs.
Some home addition projects may be tax deductible, such as building a home office or commercially equipped kitchen. This helps to defray costs even further, putting more money back into your pocket while expanding your living space.
Assess the condition of your current home. Is it structurally sound with a basic layout that suits your family? Do your appreciate the view from your yard and the benefits of your neighborhood? Is the commute to and from work manageable, with schools, shopping and professional services close enough for your convenience?
If the main issue with your current home has more to do with space and less to do with structure and location, home additions present an affordable option. Be sure to investigate the possibility of Northern Virginia additions before contacting your real estate agent. You may be surprised at how affordable this option can be.