If you’re looking at adding some space to your home, your options are to either add an addition directly on to the existing structure or to create a new structure or guest home somewhere on your property. The vast majority of people will not have enough space (or money) to build an entirely new structure with its own separate infrastructure, so an addition is probably going to be your best bet.
A guest room addition in Phoenix, AZ is most likely to be your choice if you have an elderly relative moving in with you, if your family is growing or if you wish to rent out a room on Airbnb or VRBO. Here are just a few of the biggest benefits associated with adding on to your home:
- You have flexibility to put in what you want: When you remodel an existing structure, you’re essentially adding your own flair to a space that’s already in place. You can put in new floors, paint the walls or change some of the fixtures, but the structure of the space will not really change in most cases. Creating an addition allows you to design the area according to your needs. You’re working with a blank slate, without anywhere near the limitations you’d have if you were instead remodeling an existing space.
- You can get a great return on investment: Numerous studies indicate a significant portion of the cost of an average addition can be recovered when you sell the home. Of course, you need to consider that you can’t accurately predict the real estate market years in advance, but in general you can expect to get a good return on investment for the project. There are some additions that will add more value to a home than others, of course.
- You get more square footage: There are other types of remodeling projects you can take on, but additions have an edge in that they add more square footage. You can finish off a basement, which can make for a great space for living and entertaining, but in most areas you cannot use basements as bedrooms or guest rooms because they lack the building code requirements for bedrooms, which include egress windows and fire escape capabilities.
- You open up a new revenue stream: In addition to the enhanced value of your home, you can benefit from a new guest room addition in other ways, especially if you live in a highly sought-after area. If you know there are tourists who frequently come into town, or people who travel to your area for business purposes, you can turn your new guest room space into a lucrative side hustle as a rental unit.
These are just a few examples of some of the biggest benefits associated with creating a new guest room addition at your home. Yes, it can be an expensive and complicated process, but if you do it right, you can reap some major benefits as well. Contact Renovations by Design for more information about guest room additions in Phoenix, AZ.
Categorised in: Home Additions