Bedroom additions, master suite expansions, and other room additions can boost your home's value and improve your own personal enjoyment when done correctly. Proper planning and budgeting are crucial to this process, so make sure you have all the facts.
Room Additions: Information on Bedroom and Master Suite Additions
Whether for a newborn's bedroom or your own master suite, room additions can add tremendous value to your home if done correctly. Not only can you derive comfort and pleasure from the expansion of your home, but future buyers might also be willing to pay a premium when it comes time to sell. However, in order to maximize your personal enjoyment and return on investment, it is imperative that you conduct careful preparation before any cutting, sawing, or hammering begins. And when it comes to preparation, nothing is more important than a proper budget.
How Much Do Room Additions Cost?
Every home, homeowner, and space is different. In addition, geography, climate, and materials can also have a tremendous impact on the pricing of bedroom or master suite additions. Is your home already wired for expanded plumbing and electricity? Do you want to add a bathroom to the master suite? Will this room addition be exposed to heavy precipitation? Do you have to fight homeowner association ordinances and city hall? Does your current insurance policy have to be amended to cover the new additions?
Not surprisingly, many homeowners underestimate the true cost of their room additions by as much as 50% for DIY projects. Contractors can offer greater transparency upfront, but their prices are usually higher than DIY packages. With all of these variables, room additions can go as low as $100 per square foot to well over $500 per square foot.
Added Value of Room Additions
Despite the initial cost of major home improvements, many agree that room additions are a solid investment. Unlike stocks or bonds, whatever you spend today on your home begins providing immediate returns to you and your family, whether you stay for one year or thirty. And with proper upkeep and maintenance, when you finally decide to sell, you should be able to fetch a premium that justifies the initial investment made.
