Are Home Additions Good Investments?
Here’s Why Home Additions Can Still Be A Great Investment For Your Memphis Home.
Is it finally time to add that extra room you’ve been thinking about?
Ready to add a nice large walk-in closet to the bedroom or kitchen?
How about a second story to that sturdy garage of yours?
How about a new garage?
After as many years as we’ve been in the Memphis-area residential remodeling industry, we’ve seen it all and done it all at this point. We’ve helped families across the area expand their properties, make room for new family members, and add to their lifestyles.
The reason we’re always so busy with this caliber of projects is that we’re careful.
We don’t rush into dollar signs. First, we listen. We take the time. We establish whether a) this is a good move in everyone’s opinion and b) whether we’re the best remodeler to work with you and make it happen.
When Isn’t An Addition A Good Idea?
Fact: Home additions in Memphis and across the nation are the most expensive remodeling purchase most homeowners ever make. The only thing that tops them is a complete ‘from top to bottom’ home remodel.
That said, they typically aren’t a good idea when you don’t have a specific, solid, thought out, and functional reason. Often folks have resources lying around that they want to put into their residential properties, and they’re assuming an addition is the best route to take.
In the industry, we see this whenever interest rates drop and home equity loans open up to many inexperienced homeowners.
There are three core reasons home additions make sense:
- When they add a dramatic level of convenience to a home that wasn’t there before, a garage is an easy example.
- When they add a sizable amount of value to the property, delivering a good Return On Investment (ROI).
- When they add luxury to the home that wasn’t there before (game room), although this can be a bit riskier, consider that additions use up valuable property space if not second-story.
But let’s say you’ve got a justified and proven reason to put an addition on your Memphis home. The most important decision you can make is the contractor you choose to work with.
Consider: ROI Isn’t Always Guaranteed
Do you know what that extra room means? More energy to heat and cool it. More water usage. More windows. More roofing and gutter area. More property taxes. More maintenance, plus more.
Sure, the potential to add tons of value to the property is always there, but you’ve got to be EXTRA careful. And here again, this is why working with the right contractor is imperative.
- We’re going to ask if you have spoken to local real estate professionals.
- We’re going to ask how long you’ve been in your home.
- We’re going to want to get an idea of your plans with the addition.
- We’re going to want to truly understand your goal with the space.
- We’re going to try and understand how this will impact your family’s lifestyle.
We’re going to continue asking questions until we know we’re doing the right thing!
At Robbins Construction, we aren’t going to let the addition seem like an afterthought on your home. Robbins Construction has experience in building houses, and we understand how to design and build an addition that matches your home both architecturally and stylistically.
What To Avoid
- Avoid additions that are out of proportion to the rest of your home.
- Avoid additions that are inconsistent with your home’s architectural type.
- Avoid additions that are a mismatch in color or stylistic details.
- Learn more by visiting our Memphis Additions Page.
What You’re Looking For
- A home construction company that’s meticulous and detail-oriented; who understands the many critical principles in designing and building home additions.
- A contractor that puts immense focus into project management–this is one of our calling cards. We’re going to map everything out ahead of time.
- A contractor that responds to mistakes and challenges quickly, professionally, and directly.
Bottom Line: Don’t Rush Into Putting An Addition On Your House
First, talk to real estate professionals and experienced home builders. Here in the Greater Memphis area, Contact Robbins Construction. We’ll be happy to help you get things figured out. We’ll answer your initial questions, address any concerns you might have, and see if putting an addition on your house is the right step to take. We hope this article has helped you in some way today, and thank you for your time.
Are you ready for your next remodeling project? Let us take it to the next level. Schedule a free consultation today!