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10 Ways to Purchase the Wrong Bathroom Vanity
The bathroom vanity is the sink-cabinet-mirror combination. It's the showpiece of your bathroom. Here are ten things to avoid when choosing a vanity...you might be surprised.
You are redoing your bathroom and there are a zillion details. After...
13 Extra Costs to be Aware of Before Buying a Home
Whether you're looking to buy your first home, or trading up to a larger one, there are many costs - on top of the purchase price - that you must figure into your calculation of affordability. These extra fees, such as taxes and other additional...
Bathrooms are a Home's True Underachievers
Research shows Americans are slow to invest in major bathroom remodels, but new products can enhance an existing bath
(ARA) - Judging by the myriad of magazines, decorating shows and how-to books that assail the average homeowner, it's...
Great Ideas For Stair Railings
Stair railings at home are more than a simple way to get from a floor to another. You design an extension of your personal likes in decoration, with ornamental parts of wood, iron and other material easy to install that will enhance the value of...
Walk-in Closet Organizers -
It stands to reason that you more space you have, you more organized you will be. Why then, are so many walk-in closets disorganized messes? It seems that the more space we have, the more junk we have to fill it.
Walk-in closets offer a...
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Building a Home Addition
Besides providing your home with more living space, a home addition can be a terrific investment. However, before embarking on such a project the homeowner should first consider several important items. These items include: home market values in the neighborhood, financing, size and scale of project, architecture, timetable for completion, personal disruption/inconvenience threshold and the sweat equity commitment level.
Size of Addition and Market Value
Prior to actually breaking ground on a home addition, it is best to first determine what you are looking for in terms of additional living space. For example: How many square feet? What types of rooms? Once this is understood, it is then important to find out the market value of homes in the local area with similar size and features to the new and improved home. With this information the homeowner can then calculate the difference between their current home market value and the new and improved home market value. This difference should represent the maximum budget for the new addition if a positive investment is desired. For example, a homeowner would not want to spend $50,000 on a new home addition that provides only $25,000 in increased market value to the improved home.
Financing
The next important question involves how to fund the home addition. Unless the project is being funded via cash/savings then financing will be required. If current mortgage rates are higher than the existing mortgage, then a home equity loan will probably make the most sense. If current mortgage rates are lower than the existing mortgage, then refinancing the entire home, including the cost of the home addition project, may make the most sense.
Architectural Considerations
Once the financial items have been addressed it is then time to focus on the size and scale of the project, as well as the architectural and aesthetics of the new addition. The addition should be of size and scale such that it aesthetically melds into the original house. It should not be too small or too big. Frequently, homeowners get carried away and add large amounts of new living space without sufficient thought on the outside appearance. From a market value, there is more to a home than just pure living space. A home needs to maintain its exterior aesthetics as well. It is important to consider such items as siding, doors, windows, rooflines, and elevations. All should meld into the existing home exterior seamlessly and aesthetically.
If an architect is not planned for the project, then
the homeowner should at least make some sketches of the home exterior with the new addition. The building inspector will probably require them anyways during the permit process. Also, there are many Home Design software packages on the market today that can help create such drawings.
Schedule and Sweat Equity Commitment
The next two items that should be considered include the timetable for completing the project and the homeowner sweaty equity commitment level. Many homeowners assume they can do a lot more than they are either skilled to do or have the time to do. From personal experience, I would suggest contracting out the site/ground work, rough framing, roofing, siding, heating/cooling, and the drywall. All of these tasks require skill, time and brawn. If local laws permit, electric and plumbing may be tackled by the homeowner. However, both require skill and can be life threatening if not performed properly. Other tasks that a homeowner could tackle include installing interior doors, finish trim, painting, cabinet installation, tiling and hardwood flooring. Prior to a homeowner signing up to any specific task however, they should first honestly assess their skill and available time, and compare them to their project schedule. If they don’t match, hire the contractor.
Threshold of Inconvenience and Disruption
Finally, a homeowner should consider their threshold for inconvenience and disruption. A home addition, particularly if it involves the kitchen, is very disruptive to today’s busy lifestyles. It is also a dusty, dirty and noisy endeavor. In addition, dealing with subcontractors can be challenging at times. For a typical addition anticipate several months of effort and inconvenience.
If after assessing all these issues you are still willing to move forward with the project, contact your subcontractors, pull your permits and get ready for an exciting time. For most homeowners tackling a home addition is a positive experience that provides both new living space and a great investment.
About The Author
Over the past 20+ years Mark Donovan has been involved with building homes and additions to homes. His projects have included: building a vacation home, building additions and garages on to existing homes, and finishing unfinished homes. For more home improvement information visit http://www.homeadditionplus.com and http://www.homeaddition.blogspot.com.
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