“Room Additions is the only real way to ensure the remodeling you do to your house will gain value” – Harry T. Reed
This is a very interesting idea and their are a few reasons why it is true. Before we get into reasons and why room additions are valuable projects to consider, 1st you must understand how homes are evaluated. Home are evaluated by comparing the size of the home to similar homes in the area that sold.
Ill explain with an example:
Their is a home that just went on the market for 350k and it sold. It was a 1200 sqft home 2 bed 1 bath. When your Realtor does a scan and finds similar homes with similar square footage sell for 335k – 375k then he then determines where he can successfully evaluate your home. This is based on the number of homes that are available and the market conditions.
The only real way of adding value is by adding square footage. The greater the number of living space, the higher the home will be evaluated in similar conditions. If you understood my explanation thus far, the rest will be simple.
When you do a room addition with permits, you in essence adding more square footage for your home. In turn, the evaluation increases because now you are no longer in the same category as the smaller homes.
1100 – 1300 Sqft Homes sold for Average of 365k
When you did your Room Addition, your home went from 1200 sqft to 1500 sqft.
1400 – 1700 Sqft Homes sold for average of 460k.
Instantly you can sell your home for more than you got it for after you calculate the cost for the addition.
Find how Novel Remodeling, Licensed and insured General Contractor can help you with your room addition project in Los Angeles County.