Should You Build an Addition or Move?
When we buy our homes, we can never really know where our lives will end up as we live there. A couple may plan for two kids but accidentally end up with a set of triplets after the first child or a mother in law may move in after her husband passes. The very roomy home you once had suddenly felt minuscule. You’re not crazy for feeling this way; it’s not the first time someone ran out of space to use.
Now’s the time of one of the most extensive questions.
Should you build on an extra room to accommodate your growing family, or should you work to sell your home and find other Denver real estate to cram your family into?
Cost of an Addition
When we think of an extra bedroom, it’s easy for our minds to oversimplify it and think of it as just four walls, a few windows, and heating or cooling. Unfortunately, even something that cheap-sounding can end up breaking the bank. Most add-ons cost from twenty thousand dollars to seventy thousand dollars and can be hard to afford. Depending on how the inside and outside of your home is tricky, many can’t imagine why it would cost that much. This cost is enough to drive them away.
Work That Goes Into Adding On
Creating an add-on isn’t easy work. It means pouring in resources that you’d usually have put into another part of your home, and possibly having to deal with the noise and grime of construction. This work can throw off your whole schedule, distract and annoy your neighbors, and advertise that you’re undertaking an expensive change. None of this is good, but if the result is good enough, then the inconveniences are forgivable.
Does It Add Value?
Yes, and also no. This answer is complicated based on how much you spent to get your home up to code. Sometimes it can make them money back, but if you overspend your time, money, or resources, you could end up with a sinking pit of debt. Pay close attention and budget out how much you plan on spending and how much everything will also cost to keep the house active through the construction.
How Expensive Is A Larger Home?
The average new house can be priced on size but also the completion of the project. If you find a home on the market that’s within budget, larger, and attractive, you could have just hit the lottery. Instead, save your hominy by creating your own luxurious space that can be anything you want it to be.
Do You Have The Time and Space To Move
How much will move cut out of your schedule? Construction could mess with every part of your life, but so could moving! You’d have to unearth everything that you’ve stored and squirreled away so you didn’t have to trash and find a home where you can display these pieces proudly. Although buying a home can be an expensive pain, you could make it work for you by finding a building that’s large enough for you and your family, with room to spare.
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