As your family grows the need for additional space may lead you to thoughts of a loft conversion. If you build up or out the additional living area will outweigh the effort needed to acquire it.
All projects need a plan, this project demands one
1. Home market values in the neighbourhood:
-Determine the size of conversion and market value prior to actually breaking ground.
-Find out the market value of homes in the local area with similar size and features.
-Calculate the difference between their current and improved home market value.
-The difference should represent the maximum budget for the addition.
-If current mortgage rates are higher than the existing mortgage use a home equity loan.
-If current mortgage rates are lower than the existing mortgage, refinancing your home and cost of the loft conversion project.
3. Size and scale of the project:
-The loft conversion should be of size and scale so it fits in with the original house.
-When you add living space the addition should have a good outside appearance.
-To maintain its exterior aesthetics consider siding, doors, windows, roof lines, and elevations.
-Know how much space will be used.
4. Personal disruption/inconvenience threshold:
-A loft conversion can very disruptive and chaotic.
-It is a dusty, dirty and noisy endeavor.
-Working with subcontractors can be challenging and will need your time during the day, at work or not.
5. Your sweat equity commitment level:
-Honestly assess your skills, available time, and project schedule.
-Tasks that require specific skill, time, and brawn range from ground work to drywall.
-Electric and plumbing will need permit and inspection.
-Consider doing inside finish work with know-how and available time.
-Do what you can, hire out the rest.
Hiring a Contractor For Your Room Addition:
Know what you want before you pick up the phone.
-List every detail of what you want to be done.
-Know your budget and stick to it.
-Friends/family, City Inspector, BBB.
Do phone interviews.
-Get references and previous clients in your area.
Meet in person to discuss details.
Follow-up on Contractor provided information.
Put it in writing.
-10% at contract signing, three payments of 25 percent, 15 percent when completed.
-Proof of liability insurance and worker’s compensation payments;
-Start and projected completion date;
-Lien release from all subcontractors and suppliers.
Home Technology To Incorporate in you Room Addition
This is an opportunity to begin behind the walls, not to retro fit. Think out your needs ahead of time.
Energy saving equipment
Home control systems
In and outdoor light control
Home theatre system
Phones & intercoms Before Starting Your Room Addition
In and outdoor security system
Indoor room monitoring
The more you plan ahead for your home remodelling or home addition project the easier it will be to DIY or hire a loft conversion contractor. I helped the general contractor for our new house and it was a challenge but well worth the effort.