Alair Homes
Many of our clients have a common perspective. They love their home’s location and neighborhood, so moving isn’t appealing. But they want more bedrooms in their homes where family and friends can be made comfortable and the visit together can be fully enjoyed.
Let’s talk about additions for housing guests for the holidays and anytime – the possibilities, pros and cons and the return on investment.
Bedroom Addition Possibilities
The first two possibilities to consider are whether to build up or build out. Single-story homes are good candidates for a second-floor addition. The roof structure on part or all the home is removed, the addition is framed, and the roof is re-installed before the interior is finished. These are cost-effective additions that don’t require expensive excavation and foundation work. The downsides are the initial disruption to your home while the addition is being framed and the loss of a few square meters on the first floor for the installation of a staircase.
If your lot has the room, a lateral addition is another option. It can be a one-story or multi-story addition to fit your current home’s architecture. There’s less disruption inside your home during the process. A cost-effective approach is to build on a slab, but a full foundation maximizes the benefits of the project.
If an addition isn’t right for you, renovations can be made to existing space. Finishing a basement to include one or more bedrooms and a bathroom is a common choice. Some clients turn an existing office or bedroom into a guest suite by creating a full bath out of an adjoining room. While leaving your cars outdoors during an Ontario winter isn’t appealing, an attached garage can be finished to create a guest suite.
Using your Bedroom Addition
Once you’ve decided how to create more bedrooms in your home, you’ve got interesting options for utilizing them:
- A full guest suite offers family and friends privacy and relaxation
- Two smaller bedrooms with a shared bath makes the most of the addition or renovation
- One large bedroom, bunkhouse style perhaps with a half bath, works well for a growing gang of grandchildren
- A suite with a kitchenette can also serve as an apartment in a multigenerational household
Pros and Cons of a Home Addition for Guest Accommodations
Perhaps you’re debating moving versus building a home addition. These home addition pros and cons might provide clarity.
Cons:
- Your home will be disrupted during construction, though to what extent depends on the type of addition or renovation you choose
- A major home addition might take longer from start to finish (but not always) than selling a home and moving to a larger one
- If the project makes your home stand out as the largest in the neighborhood, your potential return on investment might be reduced
Pros:
- You keep your home, your neighborhood, the kids’ schools and nearby conveniences you prefer
- The cost of an addition can be less than the cost of realtor and moving fees plus the price increase to upgrade to a larger home
- You get the upgraded home you want, customized to suit your tastes and lifestyle
Return on Investment
According to current statistics, home additions bring one of the best returns on investment among major home renovations. Depending on the scope of your project, you can expect an ROI of about 70 percent. Of course, it’s quite possible that you’ll love your remodeled home so much that selling will be out of the question. The only ROI that will matter then is the enjoyment you receive.
Share with Alair
Perhaps we’re partial to home additions, since our mission is to help you create a home that is a perfect fit. We also see the satisfaction and pleasure that a beautiful “before and after” experience brings our clients.
Share your home addition ideas with us. We’ll help you explore the full range of possibilities and decide which approach is right for you. Then we’ll make it happen! That’s our business because it is also our pleasure.
