Building a home addition can be an excellent real estate investment – not to mention a necessity for those who work from home. Once your addition is complete, you can rent out the secondary suite to help pay off your mortgage or supplement your income. But first, you will need to hire a few professionals who can streamline your project and help you avoid common pitfalls that can delay your build. Here are some key professionals to add to your home addition building team.
A Mortgage Broker
If you will need a loan to fund your build, work with a mortgage broker who can help you explore your financial options.
- Many people decide to refinance their mortgage to pay for major projects like home additions.
- You can also take out a personal line of credit to get the cash you need for your building project.
- While you may be tempted to capitalize on credit card rewards, be careful about using your credit cards for major renovation expenses.
You will need to hire an architect to help design your home addition so that it is functional and aesthetically pleasing and boosts your home’s value.
- Make sure you work with a designer who will incorporate by-law requirements and building codes into your design.
- Before hiring an architect, learn about how to find and select the best architect for your home project.
A General Contractor
Building a home addition is a big job and not one that you should attempt to coordinate and oversee on your own.
- General contractors are responsible for hiring and managing subcontractors.
- Your contractor will obtain the permits you need to complete your build legally.
- A great contractor will also work with you to control the costs of your project and keep everything within budget.
Several different subcontractors are involved in home additions. Hiring specialized professionals will ensure every project gets done right the first time.
- You’re going to need electrical work done. Hire a licensed electrician so you can avoid electrical failures and hazardous malfunctions.
- You will also need to hire an HVAC professional to determine if your existing heating and cooling equipment can handle the additional load of your home addition.
- When everything is finished, hire painters to give your secondary suite a professional paint job that will last for years.
Building an addition to your home can be a very exciting process, but it also takes a lot of planning and skill. Make sure you have the right professionals on your side to ensure your project is a success.