Often, homeowners are faced with the challenge of planning ahead of home additions without the consultation of experts. A mother in law suite can act as good accommodation for relatives and friends when they travel and visit. However, the costs of building and maintaining the home addition can jump through the roof. Homeowners need to hire the right people to handle the job. Always verify if the contractors are licensed and certified.
Fortunately, there are several signs to look out for a while hiring, they include:
- Ensure the information the remodeler is giving is updated and true
- Verify the certificates and licenses of the contractors
- Make sure you pay through the bank and ask for receipts. Avoid paying all the money in advance, and via cash, before the project is completed
- The contractors should focus on your needs as homeowners
- Verify the references given to previous work done on other homes
Additionally, you, as the homeowner, should be a good client. Often, the contractors are left to work and then held accountable for bad results. Be present and micromanage the activities. Ensure there is trust and communication between the workers and yourself. Moreover, ask for receipt of the purchases made regarding the addition of a home. If you don’t understand the terms of the contract, it’s important to consult with legal counsel.
In regards to the cost, it is important to set a realistic budget. Unfortunately, many homeowners have grand plans to want the home additions to look a certain way, but they don’t have the funds. Consult with a realtor before even hiring a contractor. The reason behind this is that sometimes you may go over and above in the home additions, which is unnecessary. Also, it is vital to have secure financing even with stellar credit because financing is difficult, especially in this financial climate.
While calculating the cost of home addition, consider the following factors;
The return of investment
Consult with a realtor in your area. Some of the home additions are not worth it. For example, furnishings for kitchens and master bedroom suits have an 80% (ROI) over additions to playrooms. Consulting with a realtor helps you make the right decision about your home.
The size of the project
If your home addition is a big project, it will be wise to have your finances to complete the project on time. Big projects may take more than a few months to complete, implying more strange people in your home.
The payment schedule
Sometimes, you may need to take up a loan. Ensure that the salaries for your workers are paid on time and the loan interest as well. Moreover, it will help you to stick to the budget.
The number of experts
Apart from realtors, you may also need to hire an architect. Design professionals will assist with any structural issues in the home additions earlier on in the remodeling process. Moreover, the experts will help you to better calculate the costs in terms of repairs and maintenance.
Also, carefully consider why you are adding more space. Home additions don’t have to be difficult and mind-cracking. With careful consultation with professionals, you may realize it is more economical to turn one of the rooms into a mother-in-law’s suite. Basements, garages, and attics offer the best spaces for these additions. Building up is significantly more expensive than building out. It is more affordable to add rooms to the footprint of your home outwards. While building outwards, you should consider factors such as lighting and air. The appeal of your home is important for better living and future purposes in a case of a sale.