Home addition vs New House

Priorities change as you move forward in life. When you first bought a house, you probably thought that it was enough for you and your partner. Perhaps you also realized you don’t have the budget to buy a new house.

Since priorities and requirements have changed over the past few years, you are confused about whether to buy a new house or opt for additions to homes.

 

Maybe your kids need a separate room, or you want to have an extra room just for your office work. Whatever the reason may be, you need to make a big decision here.

And that’s why this post will weigh the pros and cons of getting a new home vs a home addition. Let’s find out which one is advantageous for your situation.

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Are you satisfied with the current location of your house?

 Before you choose between the two, you have to figure out if you like the location of your house. Ask yourself this quick question – What kind of changes do you need? Do you need an extra room? Do you need a sunroom? If you happen to love your neighborhood, it’s a good idea to opt for additions.

In case your thought is to make the living room larger or add a lounge area, there is no need to move.

However, if the current location is far from your workplace or it is being inconvenient for you to deal with the neighbors, consider changing house.

Sometimes people move because their kids have to be closer to school. If your kids love their current school, don’t try to relocate them to a new place and a new school. They are going to despise the whole idea of moving if you try to change the house.

Just in case you don’t want to change your home, consider connecting with home addition contractors near Holden, ME.

But before that, take a look at the advantages of home additions and moving to a new house.

Moving to a New House Vs. Getting a Home Addition: Unravelling The Pros and Cons

Not everyone loves the idea of moving to a new house. Sure, if you are moving to your first-ever investment, it makes you feel overwhelmed and happy.

But, for most people, it is inconvenient to change their house. It requires you to pack your whole world and move to a new settlement.

You have to leave your friends, neighborhood, school, college, and memories behind. There is an aspect that not everyone touches or speaks about – all the paperwork that one goes through. Yes, you may need permits for home additions, but that is nothing compared to the paperwork you have to go through when purchasing a new house.

Don’t you remember the first time you purchased a house? It required you to fill out loan application forms, wait for approval, or save up all the money to get a new house. There is a lot of paperwork and patience involved in purchasing a new house.

Wouldn’t it be better to get an addition? That way you do not have to say goodbye to your old house, and it gives you more power to change the current space the way you like.

Here are a few advantages of getting an addition that might help you make up your mind:

  • You can redesign the existing house your way. The ball is in your court, so nobody else gets to decide what goes in and what goes out. When you move to a new house, you have to make peace with a few elements that are already there.
  • Additions add more value to your home. Let’s say you intend to sell the property at some point, you would need to offer a property that is spacious and looks great.
  • A home addition is not as expensive as moving to a new home. A new house would cost you a lot more considering you are buying another asset. You may have to apply for another loan or save up all over again to buy a new house.
  • When you live in a home for several years, you get emotionally attached to it. Home additions may feel like you are making a fresh start but you won’t have to leave all the beautiful memories behind.
  • When you move to a new house, you don’t have any guarantee that your current house will sell. How long are you going to wait for a buyer? If you have an immediate need for an extra room or more space, home additions work better. Don’t forget that even real estate agents take their cut, so you may not get the right price. The trouble with putting your house for sale is that it may sit on the market for several months. You don’t want that kind of headache. If it does not sell, you will have to think about other methods of getting money for the new house.
  • Buying a new house requires a lot of research (and luck). If you already have a house, and just need an addition, consider calling the best home addition contractors near Hermon, ME. Always remember that even if you are searching for a property, it doesn’t mean you will get lucky the first time. Don’t forget those scam artists are still out there, and you might become a victim too. Why do you want to go through all that hassle? If you invest in a home addition, you would just need design inspiration and the best home addition contractor. Save yourself from the needless headache!
  • Home additions can give a fresh new look to your house. If the idea is to change the decor, increase the space, and feel like you are entering a new home – it’s possible without spending a lot of money.

There are efficient and reliable home addition builders near Bangor, ME who can take up the project and help you get a functional home addition.

It doesn’t matter what your requirement is, tell them what you need, show them a few inspirational pictures, and invest in a home addition. There is no need to move to a different house when you can add another room or increase the space of your kitchen or living room. Discuss the details with the professional – they will help you the best way they can.

Still, got questions? We’re not done yet.

Is it cheaper to buy a bigger house or to add on?

 Add-ons are cheaper than getting a new and big house. There is no comparison here unless you are living in a hopeless neighborhood with too many household issues.

A bigger house with more rooms and a backyard feels like a tempting idea, but you know that it requires a lot of money too. You could make a few home additions to o the current house at a lower price, and make more memories in your new and improved home.

A lot of people think that buying a new house will solve their problems. Kids will get more space to run around, and you will get additional rooms to entertain your guests. What about the dent in your pocket?

Here’s something you can do:

You can speak to the general contractors for home additions near Holden, ME, and get a quote for the home addition project. Feel free to see a few housing options in the neighborhood and compare them with the home addition cost.

You will notice there is a huge difference in the costs. So, no, buying a bigger house is not cheaper than getting an add-on.

Is it cheaper to build a new house or remodel an old one?

 Your family has grown, but your house continues to be tiny. Well, even in history books, you may have noticed that people would expand their space instead of moving to a new kingdom.

A home remodelling project can do a lot of things. It can increase the overall size of the house, and also provide functionality. When you move to a new house, you have to decorate each room yet again. It’s not simple!

Building a new house from scratch is perhaps everyone’s dream, but it may not be practical every time.

So, no, it’s not cheaper to build a new home. It may be cheaper to remodel an old one. But that’s not the case always! The older the building, the more expensive it may be to remodel it. Once again, you should get expert advice from a professional.

Starting with a new plot of land and creating a new structure is the more expensive option. It’s a clean slate that you need to build on from the very beginning. Don’t forget that wires need to be installed, and you have to invest in new fittings in the bathroom, and kitchen too. Of course getting a new house is expensive, especially when you are buying a new one.

Building a new house is complex. It requires more time and more materials, so if you don’t think it is an immediate need, consider opting for a home addition.

You can always increase the selling price of your house by getting an addition. It’s a wiser idea in most situations unless you want to move to a new house for other reasons or if the remodeling costs are too high.

If you don’t like your neighborhood or your office is far from the current house, then it’s a different story altogether.

A general contractor home addition will be able to guide you. So, speak to them about the options you have and how much it’s going to cost you.

 The cheapest way to add an addition to the house

 We are brimming with additions to home ideas at this point!

If you want an addition to your home without spending a lot of money, you can consider some of the ideas we have jotted down just for you.

  • Finish off the basement

Don’t let the basement be a space where rodents and ghosts thrive and have a gala time. If you want to add a new room to your house and make space for guests or a young teenager, consider remodeling or renovating the basement. Contractors will tell you about the insulation, ventilation, flooring, and other costs to transform the basement into a functional room.

  • How much extra space do you need?

Figure out how much extra space you need. If it’s just 150 to 200 sq. ft, the contractors might feel it’s a small project. They may quote a higher price because labor would be required nonetheless.

Don’t opt for the services of the first contractor you come across. Shop around, ask for quotations, and compare the price.

  • Get a Beautiful Sunroom

This one’s another inexpensive option for those who do not want to shell out a lot of money. Sunrooms are mostly made of sliding glass doors or windows. If you are creating walls from scratch and investing in insulation, then it will cost you more. General contractors for home additions near Bangor, ME, will share a few options for sunrooms with you. It’s the least expensive option, and you can use that room to relax and spend a quiet weekend.

  • Turning Your Garage Into a Room

Most people don’t use their garages for vehicles. They turn it into a storage space. How about creating a room out of it? It could be your office, a space where your kids can play, or it could be an extra room for guests.

The trick is to work closely with clever home addition contractors. They will give you many ideas, but the ball is in your court, so feel free to share your ideas and vision too.

Takeaway Thoughts

Now that you understand that home additions are a cheaper and more practical option (in most cases), you should hire the best contractor in your area.

Springwood Builders LLC is here to cater to your requirements. If you want to get a home addition near Bangor, give us a call, and tell us what you need. We have several years of expertise in home additions, and our clientele comes back to us with all their present and future requirements.

We can make anything happen! And we’d be happy to listen to your vision too.

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