Homeowners often don’t realize the possibility of a home addition when they start thinking of moving. One of the most common reasons for upsizing is the need for more space due to their growing family. If you happen to be in this very situation and are confused whether you should move or build an addition on your home, the following reasons will help you see the benefits f a home addition.
Selling & Buying A Home Are Both Costly
You don’t just sell your current home and move to another without spending a cent, even if the fees come out of your equity. Selling involves a lot of expenses that you can’t avoid like lawyer and realtor fees, capital gain taxes, moving cost, utility accounts changes costs, and much more. There’s also the possibility of paying a penalty due to your existing mortgage terms.
Buying a new home to move to is another story. There’s the deposit, down payment, land transfer tax, appraisal fee, insurance, etc. If it’s not a brand new house, you may want to have it renovated which could mean additional expenses. When added up, it’s clear to see that moving cost and home addition expenses have a big difference and that the latter is far cheaper.
Difficulty In Adapting To A New Neighbourhood
Moving to another location will require your entire family to adjust to a new environment which isn’t easy. This can make your family feel unsettled or even disoriented. If there are children in your family who go to school, they’ll have to transfer to another school and leave their friends behind. Generally, it will take some time for anyone to gain a sense of belongingness in a new community.
You Can Have Your Dream Home Without Leaving
Building an addition is not as stressful as the strain that buying and selling a house can bring. When you renovate your home, you meet your current needs relative to its functionality. You can have the addition constructed based on your exact specifications, needs and wants.
You can extend rooms or add an additional level, depending on bi-laws. With the right renovation project management company, you can eliminate stress, extra costs and headaches as they can assure a smooth and painless renovation.
You can address your spatial issues all the while giving your home a new look with a fresh layout and design. This will increase your property value and will make marketing your home a lot easier given its added features in case you decide to sell it in the future.
See what’s possible for your home addition project here.
