A residential addition can be a great way to make space for a growing family. You can add an in-law cottage for guests (or, well, in-laws). You can seamlessly extend a room or portion of your home so it is customized to your preferences. An addition may also add value to your home by increasing your square footage and layout. Not to mention, it will add intangible value and enjoyment that you, as a homeowner, will feel in your new space.
Before undertaking an addition, it’s important to take a thorough inventory of your needs and goals. Namely, you should evaluate the broader property landscape. Here’s where to start.
Consider your neighborhood before a Residential Addition
What are typical homes like in your neighborhood, and how does your existing property stack up? If you’re in a neighborhood of 4 bedroom/3 bathroom properties, adding a master suite to your 3/2 can add a lot of value.
That being said, think about the permitting process and what’s acceptable in your city. One project could be completely viable in Palmetto Bay and be a smart build. But the exact same addition in Coral Gables could cost multiple times as much because of local codes.
Understand your goals and motivations
As we mentioned, adding value should not solely be considered in terms of dollars and cents. How you feel in your home and the goals you’re hoping to achieve with an addition can be worth a lot. Consider your “why” and evaluate how a new room or addition will help you feel fully at ease in your home. If you love your neighborhood and that master suite of your dreams would change everything, the value it provides you should be weighed in the decision-making process.
Weigh your alternatives
For some, an addition is not worth the effort and cost and they would rather move homes. For others, a residential addition can be much more cost-effective and less stressful than moving. The choice to add on to your home can be emotionally and financially taxing. We always recommend taking time at the outset to look at various options talk to experts – namely Realtors, Architects and Contractors. Weigh the pros and cons of your alternatives before jumping in with an addition.
Residential additions can add value to your home both personally and financially. As you consider the options for your Miami home and have questions about the best approach for you, give us a call at 305-790-1722 to discuss. At Bigfoot Construction, it is our mission to deliver a superior residential addition to your home quickly, efficiently, and within your budget.