A home addition can come in a variety of forms to fit your need. Wondering if adding an addition to your home is something you should consider? View the below “Top 5 Reasons Homeowners in Middle Tennessee Do a Home Addition” to get a better idea why others are choosing to add space to their homes.
Why Homeowners in Franklin and Brentwood Tennessee Add Square Footage to their Homes
- To Stay in the Same Neighborhood and Accommodate a Growing Family – People have reasons to stay in their neighborhoods even though their homes are becoming a little tight. In the situation of expecting a new baby or just needing a little more space for your teenagers, choosing to add an additional bedroom or living space to your home is the perfect solution. Choosing a home addition over moving will give you the extra space you need, while keeping you in the neighborhood with good schools and low crime rate.
- It can be Cheaper than Selling and Buying a New House – Maybe you need a home office or another bathroom, adding needed spaces to your existing home can be cheaper than selling and buying a new house. According to Zillow, the median home value in Franklin is $468,500. In order to put down a 20% down payment on a home valued at $468,500, you are looking to pay $93,700 not including closing costs or the amount you would need to make your new home right for you (new furniture, repairs, updates, etc.). According to HomeAdvisor, the average cost to build a home addition in the Nashville area is $125.00 to $200.00 per square foot.
- As an Investment to Increase the Value of The Home – According to real estate data from Trulia, from December 21st, 2018 – March 20th, 2019, the median price that two bedroom homes sold for was $537,650 and the median price that threw bedroom homes sold for was $905,000, a significant increase for homes with just one more bedroom. According to The Ashton Real Estate Group of RE/MAX Advantage in Nashville, kitchen and bath remodels, as well as multi-use gathering rooms have among the highest percentage of return on investment.
- To Add a Space for Aging Parents – Many folks prefer to have their parents come live with them as they grown older. Whether to provide their parents with the extra care they need or to provide them with more independence, many people choose to add mother-in-law suites to their home. Not only can a mother-in-law suite fit the needs of the family, but can be monetarily beneficial; The National Association of Realtors reported from a survey that 20% of buyers would likely pay more for a home with a mother-in-law suite. Also, in the long run it may save money, according to Genworth Financial Cost of Care Survey 2018, the average cost for a private room in a nursing home facility in the Nashville area is $7,528 per month and the average cost for an assisted living facility is $4,500.
For whatever addition you would like for your home, Tennessee Craftsmen would be happy to work with you to ensure quality craftsmanship throughout the entire process and a project schedule to fit your family’s activities with as little disruption as possible. Tennessee Craftsmen has plenty of experience. View some of Tennessee Craftsmen past home additions projects and contact then for your FREE consultation.