Thinking about adding a wing to the house? There are lots of good reasons to consider it! Here are some of the most common motivations listed by DIY renovators from all over the internet, as well as in your neighborhood.
Create Rental Income
If your additions to the home are large enough to be considered an accessory dwelling unit (ADU), this home addition could make back the money you spent on it quite quickly. Renting out the unit to a tenant would provide cash flow on a monthly basis. Not only would it help pay for itself, but it can be put towards paying your own mortgage.
The disadvantage is that it can be a little bit harder to find a tenant who wants to live so close to their landlord. Instead of a renting unit, you could also turn it into an Airbnb – which wouldn’t be filled as often but could still periodically generate revenue.
Accommodate Aging Loved Ones
At the end of the day, family and loved ones are more important than anything else, including money. Having an extra wing of the home means more space to accommodate guests. Social people with lots of friends or big families who love to visit will find that useful. But it also can serve an important emotional and logistical purpose: housing your loved ones as they age.
Spending their final days in a home can improve the quality of life for dying seniors tremendously. It’s far better for them to spend time with you than it is to be in an assisted-living facility.
More Space for You
Space can make all of the difference in a home. As a family grows, it can be hard to maintain a healthy sense of privacy. Some people might find themselves craving that alone time – either to recharge their emotional batteries or to focus on work. An extra part of the house can do that for you or for a family member who needs it. Even just giving kids or teenagers their own rooms can help them with their growing autonomy. If your family looks like it might start growing, it’s best to start the project sooner rather than later.
Building an addition to your home with the help of a reliable custom home builder will do many wonderful things for you. It can be a source of potential revenue. It can be a way to accommodate precious friends and loved ones. It can be an aesthetic boost. And, last but not least, a custom home builder can also provide you with the additional space you need for a growing family or personal hobby. So if you are planning to own a custom home, make sure to speak to custom home builders.
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