So you want to build a new home, but also considering a home addition instead, there are few options to consider before you start demolition or excavating.
Building a Custom Home or having an addition
A custom home takes longer to build for many reasons, aside to the fact that you start from scratch. For example, having the permits submitted and ready will take approximately 3 months if you’re building in the city of Toronto. And having to install and inspect each stage of home building, such as plumbing and electrical is time consuming indeed.
On other hand, getting rid of the roof or extending the house on top of garage or back of house is much quicker and easier done than said. Less permits are required and faster of finish it is because the plumbing and electrical to the city is already setup.
What is better; a custom home or addition?
Depending on your current home either can be better. If your foundation is coming down, you might as well take down the whole house and start from the beginning. If the foundation is at its top health, you might as well go ahead with the home addition.
In many cases a home addition may be a faster and more cost effective way to go about building a new home. There’s less headache involved and more money to be made if you’re looking to sell it afterwards.
Complete home renovations
So you cannot afford a custom home or a home addition. Well there’s an easy way to look at it now. You can choose to sell the house, if you’re tired of it, or renovate and remodel it to add more space. For example say your kitchen is separated by a wall mid way with your living room & dining room – why not tear down that wall and build a kitchen island in the middle of it so that you have an open concept space & watch the kids when you cook and they play. What about that bathroom? Convert that bathtub into a brand new walk in shower with beautiful glass. This will save you space and a lot of money.
Renovate and live for long enough, and you can sell the house for a greater profit than if you were not to renovate. Value of homes in Toronto keeps on going up for those which are refreshed and new.