There are plenty of reasons why you might want to build an extension on your home, and for the most part, it can be far easier and cheaper than moving to a new home that already has the desired space. However, it is not quite as easy as saying that you want an additional room or to enlarge a current room.
You will have to get the professionals involved and do your research, as well as plan to make sure that your extension ends up being what you want rather than what you asked for.
#1 What Is the Space Going to Be Used For?
It is a good idea to know what the new space is going to be used for. This will decide the size and whereabouts it is going to be located. Of course, you are going to need this type of information if you require a building permit in the state where you are planning the remodeling work.
#2 What Types of Materials Will Be Required?
Getting an architect involved may not necessarily be your first choice, but there are certain benefits to having one involved with your build. They will most certainly know about any regulations or laws that you will have to abide by, as well as be able to speak to you about the choices of materials that are available. They will also, if asked, be able to oversee the build on your behalf, which may be handy, as they will understand the terminology that contractors may use and any issues that they may face.
#3 How Are You Going to Finance the Project?
There will likely be limits to your finance options. Not many people have the money for an extension just sat in their bank accounts, so you shall have to seek finance from either a loan company or one that is specializing in hard money lending. The main difference is that a regular loan company will consider your earnings when dealing with a loan application, among other criteria.
It is important to note that even if you pass all these criteria, they can still turn you down for a loan. In comparison, a hard money loan will be one secured on your property. When taking out a loan, regardless of which kind, you should make sure that you can afford the repayments. Otherwise, you could find that your home or property is at risk.
#4 Which Contractors Are You Going to Hire?
An architect will be able to help you choose and hire contractors for your build if you hire the services of one. However, if you choose to go on the journey alone, you shall have to carry out some research. Opting for a well-known, established business is always a good idea, but you should realize that you may pay more for their service.
In saying this, with a large business performing the work, you should be assured that all insurance is in place and that all the work will be carried out to the highest quality.
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