It’s important to do your research before pursuing an interior renovation or home addition. Interior renovations are a great way of repurposing pre-existing space, but if you want to add extra floor space to your home, home additions are a better option. What are the pros and cons of adding to your home? 

The Pros

• Better quality of living – Home additions are especially popular among homeowners with growing families because they help increase the amount of living space and, in the process, improve quality of living. 

• Total control over the home addition’s design – Most homeowners pursue home additions to expand living space, but they’re also a great way to add a personal touch. Homeowners have total control over the design of the home addition and can customize it to suit their needs. 

• Excellent returns on investment – Home additions require a significant investment, but they’re worth the cost. Certain studies have shown that homeowners may recoup their initial investment on a mid-range two-story addition at the time of sale. The extra floor space from a home addition can also help increase your home’s property value. 

The Cons

Of course, home additions require a significant investment. However, when pursuing said investment, it’s important not to get too preoccupied with the costs. What you need to focus instead on is the ROI. What are the home additions with the best ROI? Here’s an overview: 

• Two-story additions – Two-story additions have some of the best ROI on the market. In general, homeowners can expect ROIs of up to 65% on a two-story addition with an upstairs master suite and a downstairs living area. Keep in mind that compared to other home additions, two-story additions require a lot more planning because of the difficulty of adding two levels to a home’s existing structure. 
• Master suites – Homeowners can expect ROIs of about 60% on a master suite. 
• Kitchen expansions – Given that kitchens are the hub of activity in the home, it’s not surprising that kitchen expansions have excellent ROIs. 
• Second bathrooms – Despite being one of the most used parts of a home, bathrooms are also one of the smallest. That’s why a second mid-to-large size bathroom can draw the attention of prospective homebuyers, especially those with growing families. 

One more thing: more floor space doesn’t necessarily mean a higher property value. The ROI from a home addition is also dependent on functionality, which is why it’s best to consult local interior remodeling contractors before pursuing a home addition. 

Let’s Start a Conversation!

DreamMaker Bath & Kitchen of Madison offers professional interior home remodeling services. To get started with a no-obligation consultation, call us at (608) 352-9944 or fill out this form. We also offer the DreamMaker Virtual Modified Process for your convenience and safety. We serve homeowners in Madison, Cross Plains and Westport, as well as the surrounding communities.