For many people, their home is their largest and most important investment. Fortunately, there are many ways a homeowner can increase the value of his or her home. One of the most common ways to do this is through renovations or additions. However, you must evaluate costs and the long term effects before beginning any home renovation project. Here are three things to consider before building home additions.
The Importance of an Efficient HVAC System
The HVAC unit is one of the most important parts of a home. Many times, additional rooms can put added strain on the HVAC unit, which results in costly repairs. Replacing the air conditioner can run thousands of dollars. Instead of having to do this, always consult with an HVAC company before deciding on any home additions. They can give advice on potential costs and how to adjust the design of the home’s heating and cooling system to keep up with the added space. Often, there is a simple, low-cost solution available that will keep the existing system’s efficiency while maintaining the temperature of the new area.
Calculating the Cost vs. Value
Before considering an addition, research the potential resale value of the home after a renovation. Drive around the neighborhood or look up local listings to see if larger, properly renovated homes sell for more money. Also, consider your lifestyle and family needs. Are you planning on staying at your current location indefinitely and you simply need room to grow? Or do you want to sell your home in the near future? These are important considerations and will impact any home renovation project you undertake.
Many home additions can increase the value of a home. However, if executed poorly, a home addition can have the opposite effect. Additionally, remember that a high price tag does not always indicate quality work or guarantee a high return. Some upgrades can have a low return-on-investment ratio. For example, installing granite countertops may $10,000 but only add $5,000 to the resale value of the home. At the same time, cutting corners might result in a negative return on investment. Savvy homeowners will consult a respected, reputable contractor and HVAC service company before beginning any construction project.
Contact Colman Air Before a Renovation
If you are interested in adding value to your home, contact Colman Heating and Air. We have the experience required to help you make the best decision possible for your home.