My home business is growing and I need dedicated office space right now but that means a room addition. We've talked about the possibility of moving within the next five or six years, so an addition needs to make sense for our home's value in that time frame. How can I make sure it will?
Bernie S. ~ Baltimore
The best way to look at a home's current or projected value is to look at the history of comparable home sales in your area. It is public information held at the county administrative offices.
You can also consult with a real estate agent or broker. They can help provide you with comparable home sale prices in the area. The key is to look at what homes are selling for and what they have sold for in the past. Making sure that an addition is going to make sense in terms of building equity and adding value to your home is entirely speculation. There are no hard rules here, you will just have to do some research and gather as much information as you can to make an informed decision.