Is Adding A Home Addition Worth It?

There is no question that when considering a Home Addition, it is a fine balance juggling emotions / needs and wants / financial realities of what money you have to work with and what the real costs for the addition will be.

I believe there is a lot of good news regarding an home addition.  Assuming good planning and that you hire good contractors to do the work and assuming that you stay within budget, you are very likely to experience two wonderful things.  The first is you will immediately meet your emotional needs and wants.  Nothing like relaxing in a room you created yourself.  It is an amazing feeling.  The second is that the value of your home is almost certainly increased right away.  It is reasonable to assume that your home will increase in value by 2% to 4%.   More perhaps if you live in an expensive real estate market.   Lastly, with regards to money is to remember that bathrooms, bedrooms and living rooms are usually most likely to be the most financially lucrative home additions.

The good news is that you’ll immediately recover 60% to 90% of the cost of the addition. Basic rooms like bedrooms and living rooms tend to be the most financially lucrative additions, but it all boils down to building comps.