As homeowners, our needs for space are constantly changing and evolving. This is just a fact of life. If you have made the decision to add an addition to your home, you have weighed the pros and cons, and decided it would be in your best interest to modify your existing home to fit your needs. Today, on the Country Club Homes Blog, we would like to offer tips on planning for a new home addition.
Determine Market Value- Before beginning any project, you need to know what properties in your area are valued at. This will help you determine the difference between your current home value and the proposed home value after the additions have been made. The differences in these two amounts should be your maximum expenditure for the addition.
Financing- Obviously you need a plan for funding your project. Unless you are funding an addition with cash, you will have to investigate your financing options. If interest rates are lower than your current mortgage, re-financing your home may make more sense. If interest rates are higher than your current mortgage rates, a home equity loan may be the best choice.
Architectural Limitations- Homeowners often fail to take into account how their new addition will look from the outside of the home. Does the new addition fit with the size and scale of the existing structure? Market value can be affected by more than just the amount of square footage you add.
Tackling a new home addition will be much easier when you rely on Fairfield County home builder Country Club Homes in Wilton, CT to guide you through the entire planning process. Country Club Homes are recipients of the prestigious HOBI award in the residential remodeling category. You may contact Country Club Homes, Inc. through our website at www.countryclubhomesinc.com or by telephone at 203-762-0550.
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