13.03
2020
Home Addition To Increase Property Value

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Increase Your Home’s Value With an Addition

Many people prefer to upgrade and expand their living area without moving to a new location. There are also many new government incentives available that encourage homeowners to add on to their homes as opposed to selling and moving elsewhere. If you are interested in creating more living space for your family while also increasing your home’s value, Lions Den Construction has a few suggestions for you to consider.

Do I Need a Home Addition?

Adding a room to your home takes time, resources, and meticulous planning. Unlike other renovation projects, home additions typically take longer to complete. The cost and resources involved are also much higher than with traditional home upgrades.

Before jumping in feet first, think about why you want or feel you need to add an addition to your home. The addition can be something as simple as a new bathroom or something as complex as an entire new floor. Do you plan to live in the house for a while? If so, it’s a great idea to add to your home as your family’s needs change. However, if you plan to move in the near future, it may not make sense to sink six figures into your project.

Where Can I Find Ideas for My Addition?

Magazines, your local neighborhood, home-shows, and designers are a great way to find out more about popular designs for home additions. Speaking with real estate agents can also give you a sense of what is currently trending in your area. Though you may want to follow a trend, make sure that your new addition actually meets your needs.

Why Is It Important to Plan My Addition Well in Advance?

There are a lot of home housing options on the market to choose from. The designs among these choices are equally numerous. It is easy to get overwhelmed during the process and lose sight of your actual goal. To avoid getting derailed halfway through your project, plan out your desired addition and all of the details well in advance. This will help you stay on track. You can even save money by getting materials early at a more affordable rate.

What Are the Benefits of Working With a Professional Construction Company?

Working with a professional firm that is a Tarion registered builder will help reduce your chances of avoidable complications. This governing body cross checks that each company listed with them is financially sound and also has the right technical knowledge to complete the services they advertise.

Professional companies will also ensure that you have the proper permits needed to complete your addition. Following regulations during building is critical. A professional contractor will make sure your design and upgrades are safe and follow local municipality guidelines.

Creating a Budget

Once you have settled on a design and the materials you want to use in your home addition, it is time to nail down a budget. An addition is a large investment, and most people will seek financing to complete the work. Knowing your budget will help you apply for the right size loan and help you stay on track for the duration of the project. Make sure to visit the Canada Housing and Mortgage Corporation to check for available grants and financing options.

How We Can Help

If you are considering adding an addition or extension to your home, make sure to plan your project properly. Research the company you plan to hire, take your time, and create a final design that actually meets the needs of your family. Whenever you are ready to move forward with your Toronto home renovation project, Lions Den Construction will be there to help. Give us a call at (416) 893-8318, and let’s make your dream home a reality together.