If you love the location of your current home but find that it’s quite a bit smaller than you’d prefer, adding a second story to your home can be a great option. Though this major construction project represents a significant investment, adding a second story can add considerable value to your home. To help you understand if a second story is right for you, here are a few ways that a second story addition increases your home’s value.
Saves Money
When most people think of flexible space, they think of a basement. However, if your home was not built with a basement, the cost of excavation and pouring the concrete for a basement can be sky-high. On top of that, if the procedure isn’t done correctly, a basement could put your entire house at risk of collapse. While adding a second story certainly comes with its own set of costs, it isn’t nearly as expensive or risky as adding a basement. Add to that the ability to cut costs through removing your roof with a crane hire as opposed to excavating, and you end up with a beautiful, expanded home at a fraction of the cost.
Greater Flexibility
Adding extra space to your home will help make your home more flexible for your current needs. This will allow you to stay in your home for longer, helping you avoid the significant expense of moving to a new home. Whether you’re expanding your family, starting a home-based business, or simply wanting more room to stretch out, a second story can add greatly enhanced functionality to your home.
More Potential Buyers
If you ever choose to sell your home, its limited size will also limit the pool of buyers who will be interested in your home. For example, if you have a ranch home with three bedrooms and one bathroom, your potential buyer pool will be limited to first-time home buyers and new families. However, if you add a second story, the extra space will greatly increase the number of people who will be interested in your home, also increasing the amount you can ask for the home.
Update Your Look
Adding a second story can be a great way to update the look of your entire home, thus increasing its value. Since you’ll already have skilled construction workers on-site and your home will already be a mess, it only makes sense to take care of remodeling projects on your first story that you’ve been putting off. By completing all these projects at the same time, you ensure that your home flows well and has a consistent look throughout, reducing the stark contrast that would otherwise exist between your old and new spaces.
Do it Right
Even though second stories are less risky than new basements, you still want to ensure that you hire proven contractors to do the work. Safety is the utmost concern when completing a major construction project such as this, both safety while the project is being completed and safety for you and your family within the completed project. Ultimately, you get what you pay for. Therefore, it’s important to do plenty of research in advance to ensure you achieve the results you’ve been dreaming of. Consider these tips when you are planning on a second-story addition to your home. A second story can add lots of value, versatility and style to your home.
