Several months ago, we started an intricate attic renovation project that has turned into quite a fantastic endeavor. With the real estate market continuing to climb, more and more homeowners are attempting to find creative ways to add square footage to their homes. This family had an ample unfinished attic space that was perfect for transforming into usable square footage. While the thought of transforming an attic into usable space sounds great at first glance, this attic renovation did not come without its many challenges.
Long Lead Times Continue to Plague Home Renovation Projects
This project was not unlike many of our other recent renovations, where we had to deal with supply chain issues as well as long lead times. This aspect of a home renovation project is often underappreciated, but in our opinion, it’s one of the primary reasons to hire an experienced general contractor. With multiple jobs running simultaneously, we know what to watch out for and what can severely delay a project. As local general contractors, we try to look out for these issues and spot them early to avoid significant bottlenecks down the road. Without proper planning, these delays can easily cause your project to be delayed by 2-3 months, so making material selections as early as possible is key to keeping a project on track.
Municipalities Can Introduce Delays As Well
Not only are we continuing to deal with material shortages and longer lead times, but municipalities themselves are dealing with being short-staffed and overworked. This is causing inspections to take longer and be pushed out farther and farther. All of this can be managed with an experienced general contractor, but it’s not something that can easily be handled by a DIY homeowner or even a contractor that may be new to the area. At Prince & Sons, we’ve worked over the past 10+ years to develop strong relationships with municipalities across the Triangle to ensure we can provide the highest level of transparency to our clients when it comes to applying for and receiving the proper permits for any home renovation project.
With Real Estate Prices on the Rise, Home Renovations Could Bring Instant Equity
Because real estate is in such high demand in the Triangle, many of our clients see instant equity after completing a home renovation project. When you’re able to add usable square footage, such as with an attic renovation, your home instantly becomes more valuable. With this attic renovation, we could add several critical features that will be extremely useful for our clients and future owners if they ever decide to sell their homes. This attic renovation featured the following:
While we’ll create another blog post when this project is finished, we thought it would be a good idea to show off some pictures of this attic renovation project in its current state.
Deciding Whether to Add Additional Square Footage or Buy a New Home?
If you’re on the fence about adding additional square footage versus buying a new home, it’s essential to look at the numbers. Finding out what a home renovation will cost versus the price of a new “dream” home may have you realizing that you’re much better off simply adding on to your existing home as opposed to trying to buy a new home when inventory continues to be low, and prices continue to be sky high! If you’re interested in learning more about home renovation costs, don’t hesitate to contact the Prince & Sons team today. We have an online intake form that will allow you to provide us with some information about your potential home renovation so we can give you honest feedback to help you make the best decision for you and your family. We look forward to hearing from you soon.