The Greater Vancouver housing market has been soaring for a number of years. During this time, many people have been opting to invest in newer or larger homes to accommodate growing families. However, the recent recession combined with rising housing prices in Greater Vancouver has made moving undesirable or even impossible for many families. Thus, many homeowners are turning to home additions as a way to add value and space to their existing residence.
There are a number of reasons why you might want to consider a home addition from Ecowest instead of moving:
- Maintain Relationships. You and your children likely have friends and family members in the surrounding area. Moving may mean making new friends and adapting to a new neighbourhood. A home addition means you can stay put.
- Better Use of Space. Most people think a home addition is only about adding space to a home. But many times you are adding on to an existing room which gives you options in terms of improving the lighting, privacy or layout of your home. A change to a single room in a home can have a dramatic impact on how all the space in a home is then reallocated and used.
- More People. Growing families, especially those with young children, may see moving as a big challenge. A home addition is a great option to create space for more family members.
- Increased Value. Home additions add value because the square footage of the home will increase (a number that is highly correlated to value). Just be sure you are aware of the trade-offs in terms of outdoor and indoor space on your lot. A large yard can sometimes be preferred to a large solarium.
- Less Hassle. Let's be honest, dealing with real estate agents, listings, offers, paperwork, boxes, and moving trucks is difficult. While home additions and other home renovations are noisy and create some temporary inconveniences, they are not nearly as disruptive as moving.
If you would like an estimate for a new addition, please don't hesitate to contact us.
