Six Lakes Realty

Will A Home Addition Help or Hurt Your Chetek WI Home Value?

floor-plan-1474454_960_720Planning an addition in Chetek WI may seem like a great idea for many homeowners— after all, you would be increasing your living space and boosting your home value, right? Well, don’t be too quick to start drawing up blueprints. That is not always the case! Adding square footage to your home does not always raise its value at resale and in fact, can result in feeling like you wrapped up all of your money in a project that didn’t pay you back.

It is always wise to defer to your real estate agent with any questions about improving your Northwestern Wisconsin home for resale. You can count on Six Lakes Realty to provide insight on what makes sense for the current market and what buyers are looking for in a home! Below, we have provided three important do’s and don’ts to take into account as you mull over a home addition.

Don’t: Ignore historical details
If you own an older home in the City of Lakes, an addition should take into account any historical details that were worked into the original style and design. For instance, the window style should be consistent across the entire property. With older windows on the bottom half of the home and a different, modern style included in your addition, your home value could take a hit and in fact, buyers will often wish the property was left as it was prior to your project.

Do: Consider the tax breaks
One of the first aspects to consider in your plans for an addition in the Chetek Wisconsin area is the tax break. Restoring a home (at times, meaning to its original size) can often yield certain tax breaks association with preservation. Tax breaks can include significant deductions on property taxes that can last for several years.

Don’t: Remove too much square footage
Remember, planning a home improvement project like changing the layout of your Chetek home does not always mean adding square footage. In fact, removing a small amount of square footage to add in more light or say, make room for more outdoor space, is also a possibility. Square footage is not always the end-all factor in determining a property’s value. However, you should be careful not to remove too much square footage and make certain you are replacing it with something more appealing to buyers. For instance, removing space from a spare bedroom to make room for a larger master suite or adding a bathroom.

Questions about your Chetek WI home value or what you can do to improve it? Give the Six Lakes Realty team a call today!

John Flor
Managing Broker
Six Lakes Realty
Office: (715) 924-4806

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