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Adding Resale Value: Renovation or Home Addition?

March 9, 2020

There are lots of benefits of investing in a home improvement project. As you plan a renovation or home addition, you have many details and factors to consider—including the value of your home. Your home’s value can be affected significantly by a home improvement project, and it’s important to make sure that you maximize potential value increases. If you’re trying to figure out whether a renovation or home addition is the best option in your situation, keep reading to find out how these projects impact home resale value in Fort Worth, TX.

Renovation basics

Renovations transform existing spaces to make them more functional and aesthetically pleasing. While these projects can make a big difference in the layout, appearance and design of a space, they don’t change the physical footprint of a room. Kitchen and bathroom renovations are the most popular remodeling projects for homeowners, but there are many different renovation projects that offer their own benefits and advantages.

Renovation projects vary widely in scale, which makes it easy for homeowners to plan a project that’s tailored to their needs, preferences, style and budget. Depending on the type of project, renovations can pay for themselves in increased home value and improved efficiency.

Home addition basics

Home additions increase the space and square footage in your home by adding a new room (or set of rooms) to your existing structure. A home addition, meanwhile, allows you to improve your home’s functionality, practicality and design without making any changes to your existing interior. On average, homeowners can increase their home’s value by $80 to $200 per square foot, depending on the specifics of the remodel. There are different ways to approach a home addition, but it’s best to work with a contractor to determine what kind of project makes the most sense.

Renovation vs. home additions

When choosing between a renovation and a home addition, it’s important to consider all the different factors that can affect resale value in Fort Worth, TX. As a homeowner, your goal should be to maximize the benefits of your investment without breaking the bank on projects that are incredibly costly or complicated to complete.

If your home’s interior is outdated or doesn’t function the way you need or want it to, a renovation project is probably the best choice. On the other hand, if there’s nothing wrong with your home’s interior, but you’d like some extra space and you want to improve your home’s value, an addition is probably smarter. Ultimately, it’s a good idea to consult with a professional contractor to help you make the best decision for your home.

Resale value in Fort Worth, TX

If you have more questions about resale value in Fort Worth, TX or are interested in getting started with a renovation or home addition project, reach out to the team at The RockAway Company. Since 1993, we have been proud to provide comprehensive contracting services to help our customers achieve their visions for their homes. To find out more about our residential remodeling services and to request a consultation for your project, simply give our team a call.

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