Every homeowner wants to enhance their property’s curb appeal, but are home additions like family rooms worth it? We researched and found that home additions such as family rooms can increase property value by up to 30% for every 1,000 square feet added. In addition to curb appeal, a family room provides extra space for making precious family memories. Read on to explore the pros and cons of a home addition and decide if a family room is right for you.
How Much Value Will A Family Room Add To Your Home If You Build One?
Adding a family room to your home can increase its value by up to 30 percent for every 1,000 square feet of space added. Additionally, a family room provides more space for your family to enjoy and make memories. In this guide, we’ll explore the pros and cons of building a family room to help you make an informed decision.
Real estate experts agree that more square footage is always a positive when it comes to home value. If you add at least 1,000 square feet with a family room addition, your home’s sale price could increase by around 30%. The value would be even higher for a larger addition, such as 2,000 square feet.
Based on research, an average living room is about 340 square feet, and family rooms may be similar in size or even smaller. Thus, to make the home addition worthwhile, you may need to plan a few other additions along with the family room. According to experts, adding bedrooms and bathrooms are among the most valuable additions that can increase the value of your home.
The Pros and Cons Of Adding A New Room To Your Home
Now that you know that adding more square footage can significantly increase your home’s curb appeal, you might be more motivated to design the family room of your dreams.
You’ll Have A Bigger Home
Adding a family room can indeed increase the living space of your home, providing you with more room to spread out and make memories with loved ones. A family room can also serve as a versatile space for entertaining guests, hosting movie nights, or even as a playroom for children. However, it’s important to consider the cost of the addition and whether it aligns with your long-term goals and budget.
You Might Not Have To Move
Having more space can be a significant factor when looking for a new home, especially when your family has grown. Perhaps you and your partner moved into your current home with one child, but now you have more kids and the house feels cramped. Before you start considering a move to a larger home in a different neighborhood, adding a family room may be a more cost-effective solution to give your family the space it needs.
Adding to your home can be a more time and cost-effective solution compared to selling your current home and buying a larger one. Instead of going through the whole process of selling, bidding, and moving, you can simply add more space to your current home. This can be a more affordable solution than buying a new, larger home, depending on your budget. Plus, you won’t have to say goodbye to the home where you’ve made so many cherished memories.
You’ll Make The House All Your Own
While you can paint your home in any color and hang up your favorite art pieces, the structural design of your home remains unchanged. A family room addition provides an opportunity to leave a personal touch on the layout and design of your home.
A Bigger Home Takes More Time To Clean
Having more room in your house may be desirable, but it’s important to also consider the downsides.
With more rooms in your home, you’ll likely have to devote more time and effort to cleaning and maintaining your house. Having an additional room, or even two, means additional cleaning tasks every week, which can become tiring, especially when trying to keep up with the rest of the house.
You’ll Never Recoup 100 Percent Of What You Spend
It is unlikely that you will be able to recoup the entire cost of building the family room or any other room additions through an increase in your home’s resale value.
In the next section, we will discuss the expenses involved in building a new family room. If you are comfortable with not getting a full return on your investment, even with an increased home resale value, then you may be ready to move forward with the project. However, if you have concerns, it may be worthwhile to take some time to think before making a decision about this significant addition.
Additions Are Expensive And Taxing
Indeed, home construction can be a disruptive and stressful process. You’ll have to deal with noise, dust, and various inconveniences that come with having a construction crew in your home.
In addition, you’ll have to make many decisions along the way, from choosing materials and finishes to approving design plans and overseeing the work.
All of these tasks can add up and cause considerable stress and anxiety, especially if you’re not used to managing large home improvement projects. It’s important to consider whether you have the time, energy, and mental fortitude to handle the challenges that come with a home addition.
The constant noise and disturbance caused by the construction team can be disruptive to your daily routine and cause stress and frustration. This can be especially challenging if you work from home or have young children who need naps during the day. You may have to adjust your schedule or find a temporary workspace or childcare arrangements while the construction is ongoing.
How Much Does It Cost To Build A Family Room?
Certainly! The cost of adding a family room to your home can vary widely depending on a number of factors, such as the size of the room, the materials used, and the location of your home. Here are some estimated costs to give you an idea:
Based on the given information, it appears that the cost of adding a family room to a home can range from $15,000 to $200,000 depending on the size, location, and desired amenities. For a 20×20 family room, the average quote is between $42,000 and $88,000, with a national average of $65,000. However, it’s important to note that these are only estimates and the actual cost can vary based on the specific project requirements and location.
Here is a rough breakdown of the costs involved in building a family room addition:
Location plays a significant role in determining the cost of a home addition project. Additionally, the cost can vary based on the materials and finishes you choose. For example, hardwood flooring will be more expensive than carpet or vinyl. Similarly, high-end appliances and fixtures will increase the cost of the project. Finally, the complexity of the design and the amount of customization required will also affect the overall cost.
However, building up does come with its own set of challenges and expenses. You may need to reinforce the existing structure of your home to support the added weight, which can add significant costs to the project. You also need to consider factors like stairs, which can take up valuable living space and be costly to install. Additionally, building up may require permits or approvals from local authorities, which can be time-consuming and costly.
Ultimately, whether you choose to build up or build out depends on the unique features of your home, your budget, and your personal preferences. It’s important to weigh the pros and cons of each option carefully before making a decision.
Additionally, building up may require more planning and structural work to ensure that the new addition is properly supported by the existing structure. This could also increase the cost of the project. However, building up can be a great option if you want to maximize your indoor living space without sacrificing your outdoor space. It’s important to consider both options carefully and weigh the pros and cons before making a decision.
Indeed! Adding a family room to your home can be a great investment in your family’s comfort and enjoyment of your living space. It provides a dedicated area for relaxation, entertainment, and quality time together, and can also increase the value of your home if you ever decide to sell it. However, it’s important to carefully consider the costs and potential challenges of a home addition before committing to the project.