Homeowners needing an upgrade in their residential space ought to consider adding an extra bedroom to their home. With home values down amidst the current worldwide economic downturn, building an addition is a fabulous way to incorporate more space while simultaneously raising home value.
Space
Storage space is often at a premium in any home. Adding an extra bedroom onto your home only increases its interior size. Along with this increase come more storage, freeing up bulging closets and dust-laden garage shelf racks. With an extra bedroom comes an extra closet, solving storage issues.
Functionality
The overall functionality of your home can be changed by adding an extra bedroom. It can not only mean freeing up another room of stacked belongings, it can mean rearranging the use of each space. A new baby nursery is among the possibilities. Or, a hobby room. The possibilities are endless for a growing family or even a family needing just a little more elbow room.
Versatility
The term “bedroom” is only applicable so long as the furniture is bedroom furniture. Take away the bed, dresser, nightstands and put in a desk and futon, a home office instantly appears. Install a large sectional, a small refrigerator and hang a big screen television, you instantly have a media room or man cave.
Cost Feasibility
If you are in need of another bedroom but are detoured by the cost, ask yourself about the alternative. Can you afford to buy a bigger home? Even if the housing market were in positive territory, the process of putting your home on the market while searching for a new house is an arduous and long process. Issues always arise when trying to juggle both home buying and selling. Moreover, adding an extra bedroom is only a fraction of the cost of selling and buying a new home.
Value
An extra bedroom only increases the size of your house, which increases what real estate professionals call “livable square feet” or “livable square footage”. When the value of your home is calculated, it is priced according to local comparable properties. This means properties with the same floor plan or same number of bathrooms and bedrooms. Adding an extra bedroom translates directly into increased home value. What’s more, if you can self-finance the addition, your equity will increase automatically without owing more.