How Does a Home Addition Work?
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What is a home addition?
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A home addition is a construction project carried out on an existing home that adds to the amount of space in the home, usually by creating additional rooms, or extending existing rooms. Homeowners make additions for various reasons, which often include the need for more space due to a growing family, the desire for a larger home while not wanting to sell or move, or a desire for certain specialized rooms that do not normally exist in a home.
Putting in an addition
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A home addition is perhaps the easiest way to gain more space for the least amount of money, as it avoids the costs of selling and buying homes. Another advantage is that that the specifications of an addition are up to homeowners, so the new rooms can be tailored to meet their needs. Someone considering an addition should be aware that construction may require a portion of the home to be unusable or inaccessible for a good deal of time and that ground-level expansions come at the price of a smaller yard. Another consideration is that an addition will add to the property tax of home, since it increases value.
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Adding value with an addition
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One of the most important considerations when making an addition is determining whether the new space will result in an overall gain or loss of value--that is, whether the new addition will bring in as much or more extra money if the house is sold, than the cost of putting it in. Oftentimes a well thought out addition instantly increases the value of a home above the cost it took to put it in. Expansions which enlarge and remodel kitchens and the master bathroom usually add the most value, while adding additional bathrooms is also commonly a good investment. Additions of more specialized space, such as a wine cellar, pool house or extra large garage, are less likely to pay for themselves when a home is sold.
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