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Maybe you’re in the perfect neighborhood but need a bit more space, or perhaps it feels more cost effective to build an addition than to completely relocate. Whatever the case, Chicago homeowners considering an addition should ensure they ask themselves some important questions before starting so that they end up with an end result that’s right for them. Perhaps there’s another option that makes more sense for you and your family, or maybe an addition is exactly what you need. Here are some questions homeowners can ask themselves to make sure they make the decision that’s right for them:
What is my vision for the next 5-10 years?
While it might feel pressing to gain more space at the moment, it’s important to think about how this space will serve you and your home down the line. If you’re thinking of selling in the near future, will this add value, or will some of your investment be lost? If you’re not planning on moving, what do you anticipate your life looking like? While of course, no one can say for certain, it’s important to think about whether your addition will not only serve your current needs but also your future ones. If you might soon outgrow the additional space as well, a move could make more sense.
What are my goals?
It’s essential for homeowners to be clear about what they want out of their addition. This will help lay the foundation for successful working partnerships with contractors and designers and it will keep you on track when it comes to making the space exactly what you need. Are you making space for your family to enjoy together? Is it an extra bedroom? Space for storage? Does the addition need to serve multiple purposes? Getting clear on these things ahead of time can help you arrive at the best possible outcome.
What do I love about my current home? What don’t I love?
This is another important question that can help you determine if an addition makes sense for you, and if so, what that addition should look like. If you love your neighborhood, for example, that could be reason enough to invest in your current place to make it work for you and your family. If there’s a long list of things that frustrate you throughout your home, maybe the need for more space could be the nudge you need to start looking at new homes. Of course, there’s no right answer here, but reflecting on these questions can help you gain some important clarity.
What is my max budget?
Finally, this question is essential for homeowners to prioritize. It’s no surprise that home renovations can quickly get expensive, and homeowners need to be prepared for the financial implications of an addition. Determining your max budget in advance (and striving to come in a bit under that) is an important step. Perhaps you allow yourself a little wiggle room, so your “max” budget is actually several thousand dollars than what you could actually spend if needed. This can help homeowners deal with unexpected expenses without throwing themselves completely off track.
Are you thinking of adding on to your Chicago home? What are your biggest motivations for doing so? What are your biggest challenges? I’d love to hear your thoughts!