Most people think that adding an extension to their home is a costly expense and, instead, opt to sell up and buy a larger property. While extensions don’t come cheap, neither does buying and selling a new home. The Census reports that Americans move home, on average, 11 times during their lifetime, which is considerably more often than those living in Europe. Opting to build an extension rather than putting your house on the market is just one of the things that can add value to your home. But, what are the other benefits?
People buy homes because they fall in love with them and, even when your family has outgrown it, it’s difficult to simply fall out of love with it. Building an extension is a great way of transforming your treasured home into a property you can continue to lust over. Your home will likely hold many family memories you don’t want to forget. Therefore, these precious times can long be remembered by creating a large kitchen/diner or by adding an additional bedroom or bathroom to the upper floor.
Moving costs & stress
Everyone knows that moving home is expensive and stressful. Worldwide ERC reports that the average cost of packing and shipping personal goods from one state to another is $12,459. On top of this, homeowners will also have legal fees, home inspection costs, a deposit and money transfer costs to shell out for. By choosing to build an extension instead you haven’t got to worry about any of these charges or go through the stress of something potentially going wrong. Funding an extension is simple, too. Individuals may choose to take out a loan to fund the project or use their savings to extend their home. While, seniors have a range of other financial options to consider in order to help them achieve the home improvement they require, including a reverse mortgage which will ensure they receive a regular payment to be used to cover the price of the work.
Make your home more appealing
With Americans moving frequently, it’s inevitable that one day you will decide the time has come to move on. Spacious homes with multi-functional rooms are appealing to a wider range of people than a typical three bed semi-detached home in the suburbs. Some of America’s most popular hobbies are painting, crafts, sewing, reading and writing. Therefore, potential buyers will seek homes with additional rooms which can be easily converted into a craft room, studio or library.
Extending your home is a cost-effective way of getting the most out of your property and keeping hold of family memories, while, boosting the value and attractiveness of your bricks and mortar.