Growing Home: Considerations to Make When Adding More Space

Consult with Experts on the Best Improvements Even before meeting with a contractor, consulting with a real estate professional on your addition can be worthwhile. Kitchen expansions have one of the highest return on investment ratios of any addition. Photo courtesy of Kitchen & Bath Unlimited. “Realtors are very useful when considering an addition,” says Kary J. Bartmasser, licensed Realtor® and Certified Public Accountant in Beverly Hills, Ca. “They can analyze the sold comps [comparable listings] in your area. These area comps can show how additional bedrooms or bathrooms may add to the value of your home, based on your local area. Your main objective is not to overspend for your neighborhood.” Bartmasser says one of the biggest mistakes he sees people make is overbuilding. “Don’t build a mansion where one-stories are the norm,” he says. “You don’t want to have the most expensive house on the block.” “Realtors are constantly expected to sell properties that have been ‘over-improved,’ ” says New Hartford, N.Y.-based Realtor® Jean Hunt. “However, if your home is on the low end of the price range for your neighborhood, go ahead and make improvements. I bought the smallest, least expensive home on my street, and I was very comfortable adding on twice—I’m still easily within the price range for my neighborhood.” Beyond making sure your improvements will pay off when it comes time to sell, Adding a second story is a popular way to boost a home’s square footage, and it generally offers a strong return on investment, as well. Photo courtesy of Harth Builders. Photo by RVO Photography. having an architect you trust on your project is wise both structurally and financially. “It’s always good to have an architect or some design professional helping homeowners through the early part of the remodeling process of gathering information and doing homework,” says Ken Hirsch, AIA, owner of Hirsch Architects, Inc. in Boca Raton, Fla. “They dive into it, and depending on when they finally talk to a contractor or a design professional, they may not really be ready to make practical choices. The best way is to find a professional who’s really experienced in the process and let them walk the homeowners through it.” Find the Right Contractor for Your Job With so much money and emotional investment on the line, one of the most important decisions you will make when adding on to your house is the contractor you choose. The biggest mistake homeowners make when choosing a contractor is simple, says Hunt. “Not getting competitive bids from contractors is one of the most common mistakes people make when adding on to their home,” she says. “Going with the first contractor and the first bid could be your biggest mistake. You get a second opinion when you go for surgery—why not do the same for your house?” Asking some basic questions in the interview and bidding process can weed out contractors who may not be a good fit for your style, says Whitehorn. “If you’re a homeowner and you’re going to do a big project, they’re going to be in your house, they’re going to be in your life for a long time,” he says. “Find out how many different people will be in your home during the project, find out what their payment schedule is and how they handle payments and how they handle change orders. If you don’t like these answers, that may be a tell-tale sign this isn’t the right contractor for you.”

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