You’ve saved wisely, done your research, and waited patiently, and the time to tackle a home addition has finally arrived. Now what? By this point, you should have a clear understanding of your goals, budget, and expectations, but the reality is that you should be able to (or, at least try to) answer the questions outlined in this article prior to jumping into your home addition project.
Once started, it can be incredibly difficult to reverse course on a home addition, and for that reason it’s critical that you understand what you’re getting yourself into and what impact the project may have on your life and home moving forward. Let’s get started!
Will the Addition Add Value to Your Home?
Regardless of whether or not you have plans to sell, it’s important to understand the value of the house addition project you’re undertaking. Oftentimes, renovation projects of this size will require additional financing, and so understanding the value of what you’re investing in and the impact it may have on your future financial health is important.
Are There Different Ways To Lower Your Costs and Still Get What You Want?
Renovation projects are expensive – both in terms of the dollars and time they’ll take to complete – and so a thoughtful question to consider is whether or not you can achieve the same (or similar) results in a lower-cost, less extensive way. Although not always possible, you may be able to make use of an attic, basement, or simple room-restructuring to avoid having to tackle an add-on renovation project.
Are There Any Zoning Restrictions To Consider?
Most towns and municipalities will have laws governing what can and can’t be done when it comes to house additions. Although each are is unique, some common practices include no development within 20-feet of the front of your property, 7.5 feet on either side, or 15-feet to the rear. These restrictions – alongside the various others that may exist in your area – are incredibly important to consider and address, as they will weigh on what you can build (and how what you build impacts your intended use case.)
How Will Your Addition Tie Into the House?
Your house was once designed with a cohesive flow – stemming from drawing that a developer and architect worked together on to ensure that life inside remained enjoyable. Adding a room to a house, or house addition in general, are not as simple as slapping up a new set of walls with an entrance, and it’s important to consider how the additional square footage will impact the current flow and aesthetic of your home. Depending on the type of extension you’re building, you’ll want to consider how it will interact with surrounding rooms, and what elements need to be included to ensure that it flows cohesively with the rest of the home.
What Are Your Expectations To Spend on the House Addition?
One of the first questions you’ll ask yourself is how much is a house addition. Since every home addition project – including plans, expectations, and budgets – will be different, the only way to obtain an accurate, reliable quote is to go through a local contractor familiar with the project type. That said, there are some general cost guidelines that will help you estimate project costs, ensuring that you’re saving/borrowing the proper amount and not over-planning.
For most home addition projects, you can expect to spend anywhere from a few hundred dollars per square foot upwards, the exact cost depending heavily on the type of renovation you’re completing, the materials being used, and the team you’ve elected to have complete the job.
Beyond simply estimating the project costs, it’s important to consider the upkeep costs that are associated with a larger home. You should price in higher energy bills, especially for heating and cooling, and you should anticipate an increase to property taxes based on the heightened estate value.
Consult the Professionals
Home addition projects are no small task. If after working through the key questions above it still appears to be the best route forward, it’s critical that you seek out expert support to ensure that the project get completed in a professional and timely manner, remaining within-budget and exceeding quality expectations. NICKS Developments has been crafting custom home room additions for clients throughout the Greater Toronto Area for years, and with 50+ projects under our belt, we’re well prepared to tackle what you have in mind. To learn more about our team and process, or to obtain a project quote, contact us today.