Home Addition in Tradition

3 Key Things to Consider When Planning Home Additions

1. Budget and scope

Ensuring a successful project begins with determining the scope of the job. Some home additions require building a new room, expanding your floor plan, and obtaining permits, while others, such as garage conversions, utilize existing spaces without modifying your current layout. The amount of work your project requires will determine the final costs of your residential space enhancements. 

For example, adding a room costs an average of $46,000 nationwide, but adding a second story increases its price up to $200,000. Hence, knowing which type of job you want will help you prepare mentally and financially when asking quotes from home addition contractors in Tradition. 

2. Plan and secure funding

Few homeowners can afford to pay for room expansion services in cash, whether it involves creating a new space or converting an existing one. Thus, most will need to take out a loan, a line of credit, or another financing option to complete the project without worrying about money. Some contractors may guide you through different partners and options to finance your project. 

There are many financing options available, such as home equity loans, personal line of credit, credit cards, or second mortgages, each with its advantages and risks. So, it’s always advisable to consult a financial professional before taking any loan or credit.  

3. Find your property lines

Another essential thing for home addition contractors in Tradition to consider before starting is to determine where your property ends and where it begins, as well as where your neighbor’s property begins. This will help all parties involved plan within the actual space you have, considering your landscape and utilities, as well as any local restrictions on how close you can build to your neighbor.