6 

REASONS 

TO 

EXTEND 

YOUR 

HOME 

INSTEAD 

OF 

MOVING 

You may love where you live, but does your home have the space you need? Do you wish you had a guest suite for visitors? Do you find working at home means you now need extra office space?

You’re not alone. Homeowners in the Lower Mainland typically find city living means compromising on floor space. The immediate solution seems to be moving to a larger home, and although that may seem like the easiest solution, it’s not always the best or most practical one.

Fortunately, there’s another solution to moving – extending your home. Here are six reasons why it’s better to build an addition to a house than to move.

Adds Value

Building an addition to your home ensures it meets your needs in both form and function. Building an extension adds space and value to your home. Instead of taking the equity out of your current home to buy a new one, why not use it to build more equity by increasing the value. And the best news is that a home equity loan may be tax-deductible.

Saves Money

That may seem like a contradiction but there are many costs associated with buying a new home like realtor fees, closing costs and moving expenses. A larger home will cost more and that means a larger down payment. There will be many things you want to change or improve, and this means renovation costs. In fact, when you factor in all the hidden costs of buying a new home and moving, building an addition to your home may actually be more affordable.

Offers Design Versatility

A home addition offers the ability to design the addition and make sure your addition gives you exactly what you want where you want it. A home addition isn’t limited to the back or front of the house: you can add an extra floor or dig into the basement. The addition may be bigger than the original house and if you want to avoid cutting down mature trees or blocking views, the shape can be designed to work with your garden.

Less Stressful Than Moving

Moving is stressful, and if you have kids, moving is even more difficult. There are new schools to consider, which means your children have to make new friends and adjust to a new environment. And although moving offers a great opportunity to get rid of old clutter, it also means packing and packing up a home causes a lot of disruption and confusion to daily routines.

Solves Problems

Adding an extension to your home provides the opportunity to address any structural, surface or interior issues with your home. French doors to a sunroom can fill a room with much-needed light; it may be a good time to replace old guttering or peeling paint. A new home addition to the front of your home can update, remodel and vastly improve curb appeal.

Improves The Health Of Your Home

If you live in an older home, you may want to check into potential home health issues. Many older homes have issues such as mold or mildew, leaky windows or lead paint. When you build a home addition, you can also address some of those old problems that reduce the value of your home. If you’ve decided that building an extension on your home is the best solution for you, you might want to know how to build an addition. It’s always a good idea to contact an experienced contractor to make an informed decision.

Links:

• https://www.canada.ca/en/financial-consumer-agency/services/mortgages/borrow-home-equity.html
• https://www.hgtv.com/design/remodel/packages/planning-guide-home-additions
• https://www.canada.ca/en/health-canada/services/home-garden-safety/hazards-your-home.html
• https://vancouver.ca/home-property-development/building-and-renovating.aspx