- Moving Home – This could be a good choice if the amount of extra space that you need is considerable, your current home is situated on a very small plot of land or you have absolutely no attachments to the area in which you are currently living. However, if you have children who are happy and settled at a local school, plenty of land, and your needs are modest, selling up and moving to a new house in a different part of Toronto could prove to be far more trouble than it’s worth.
- Home Additions – Extending the ground floor of your property, installing dormers on the second storey, adding a third storey, converting your basement or a combination of all of these options could well be the perfect solution to your need for more space. Generally speaking, home additions are a great choice for people that are very settled and happy in their existing home but could really do with a bit more room. If you have created a happy and comfortable family environment in your current house but you are feeling a little cramped, building out or building up will probably be the best option for you.
Considering All the Relevant FactorsBefore you can decide whether an addition is the best solution to your current need for more space, and if it is, which type of addition would be the best choice, you need to consider a number of different factors.
- The Amount of Space Required – Whether you can satisfy your space requirements at your current address will depend to a large extent on just how big they are. If you need something like double the amount of floor space you already have, it will probably be easier for you to move. On the other hand, if you have a large plot of land and there are no local building regulations to stop you, you may still find it more convenient to extend your existing home than to buy a new one.
- The Cost of Different Home Additions – The amount of money you will need to spend to extend your house will depend on the type of addition you choose. Underpinning your basement, in order to create a high ceilinged room that runs the length and width of your home, is quite expensive for example, whereas bumping out, widening a ground floor room without pouring new foundations, is a relatively cheap way to make your home a little larger. However, underpinning will provide you with much more space.
- The Possible Disruption – Moving house is certainly going to disrupt your day-to-day life but home additions can be quite disruptive too. How disruptive depends on the type of addition that you have in mind. If you are adding a new room to the ground floor of your property, you can probably continue to live in your home as normal, right up until the time when the new space is integrated into the existing property by knocking a hole in the exterior wall.