If you're looking for ways to improve conditions inside your home and you plan to hire a remodeling contractor, now's the time to discuss a room addition. You might think that expanding the size of a current room is the way to go, but that's not necessarily the case. Adding another room to your home will increase the square footage, and give you another room for your family to use. If you're not sure that investing in a room addition is the best option, read the list provided below. You'll find four great reasons why it is.
Avoid the Hassle of Moving
If you've run out of room in your home, you might think that moving is the only solution to the problem. Luckily, that's not the case. Housing prices are skyrocketing right now, which means you would be able to get top-dollar for your home. However, you might not be able to find a comparable home in your price range, which means you might be locked out as a home buyer. The best way to avoid the hassle of moving is to invest in a room addition. You'll get the extra space you need, without relocating your family.
Increase Your Property Value
Housing prices are up right now, but that doesn't mean they'll stay that way forever. That means right now's the time to make some adjustments. Making improvements to your home right now ensures that your property value will remain consistent, even after home prices decline. That's where a room addition comes into the picture. Adding a new room will increase the square footage and the number of usable rooms, which will also increase your property value.
Take Advantage of Tax Breaks
If you run a business out of your home, it's time to take advantage of the tax breaks. Working from home has a lot of advantages, especially during the current pandemic. However, if you don't have a designated office space, you can't take advantage of the home office tax credit. That's why right now is the perfect time to invest in a room addition. You can use your room addition as a designated home office. Once you've done that, you'll be able to write your home office off as a tax deduction.
Create a New Revenue Stream
If you're looking for a way to bring in some extra cash, now's the time to add another room onto your home. Once the room is complete, you can rent out the space to college students, single workers, or as vacation space for travelers. In fact, there are travel apps that will allow you to rent out your guest room on a nightly basis.
For more information about your options for room additions in your home, contact a remodeling contractor such as SL Remodeling.Share