While it is true that home values seem to be trending upwards again, now may not be the best time for you to consider selling your home. While you may love your home, there are probably changes you would love to make.  But, what can you comfortably afford without breaking the budget? Before undertaking any project you need to estimate the costs of a new home addition.

1. Obtain the building permit: Before you can break ground, you must obtain a builder’s permit. There are fees and application costs to factor in. Contact your local building inspection department for information about fees, applicable codes and requirements for submitting drawings for a building permit.
2. Determine the size of the addition: Your contractor can’t give you an accurate estimate of cost until you determine the square footage of your new home addition. Before you start making detailed plans about the addition, utilize some basic square-foot cost estimates to narrow down the approximate size of your addition.
3. Determine the costs for smaller projects: When completing a small home remodeling project or home addition, ask your contractor for a breakdown of costs associated with the different areas of work, including estimates for the subcontractors. Be sure to utilize a basic Owner/Contractor contract that defines all of the details, costs, scheduling, change order procedures, and positive or negative consequences for working ahead of, or behind schedule.
4. Determine a timetable: Be sure to have a very fixed schedule and timetable for completion of work.
5. Obtain financing:  Determine how you want to finance your project as well as projecting the impact on your financing should the schedule for the project, or the scope of the project, change.
6. Take advantage of benefits on energy efficient products–  There are plenty of incentives to use energy efficient products in your home, including the energy efficiency that these products provide as well as the rebates and Federal Tax credits for consumer energy efficiency from the Department of Energy that are available.

Making the decision to build a new addition on your home may create some stress, but when you hire qualified professional builders like Country Club Homes, you can be sure that the previously mentioned smart tips and procedures will be followed. If you are planning a home renovation, an addition, or a new custom home project, contact Country Club Homes for more information by telephone at 203-762-0550; or online at www.countryclubhomesinc.com.

Photo courtesy of James Shaffer via Flickr