A home is, arguably, the most important asset one will possess during their lifetime. Therefore, maintaining said holding and improving its worth often prove critical. A company offering home renovations in Calgary stresses that inserting additions is one potential way of increasing such value.
Benefits Of Home Additions
The installation of a home addition could have several key benefits such as:
Extra Space
Homeowners often opt to add on to increase the residence’s livable space. Said action might also be executed to accommodate an expanding family or aging relatives.
Resale Value
Home additions often increase a home’s resale value.
Aesthetics
Sometimes, additions improve a home’s visual appeal. This quality, also known as aesthetics, could also significantly enhance a property’s financial worth.
Income
Homeowners might opt to rent additions like newly created bedrooms out to tenants and earn income off said efforts.
How Much Value Do Home Additions Bring?
Companies performing home renovations in Calgary maintain that attempting to quantify exact value is difficult.
Several factors play into calculating specific monetary values such as the project’s size and scope, the quantity and quality of the materials used to complete the endeavor, the labor required, the complexities of the work, and if the exploits of specialized professionals like plumbers or electricians will be needed.
That said, many construction contractors opine that certain home additions tend to heighten a home’s value including:
Bathrooms
Most construction and real estate industry professionals believe bathrooms are amongst the most beneficial additions. Homes lacking enough bathrooms often remain on the open market for far longer than those possessing a sufficient quantity.
Finished Basements
For many homes, the basement remains a cold, dark, dank location used primarily to house seldom or no longer used materials.
However, structures with finished basements are often considered golden to prospective home buyers. Spaces that have been outfitted with amenities like walls, framing, carpeting, plumbing, and electrical wiring could be employed for a variety of valuable purposes.
Decks
When the weather agrees, many homeowners enjoy entertaining guests outdoors. For such home buyers, exterior additions like decks could serve as a major and lucrative selling point.
Home Office
In recent years, a greater number of people have embraced the concept of telecommuting where they perform professional duties from home. Said efforts have only increased with the onset of the Covid-19 pandemic. Therefore, homes containing ready made offices may result in more expedient and profitable sales.
Paramount Renovations is the leading home renovation company in Calgary. Thanks to our high-quality work and superior customer service, we have established ourselves as a committed and passionate team. For all your home, kitchen, and bathroom renovations, contact us at 403-923-2662 or [email protected]
