Life happens. And sometimes that means that you need to open your home to accommodate extended family. However, when more people move into your home, you must have somewhere to put them and you may need to make some changes to your home. Because of this, you need to decide how much money you are willing to spend and what the money will be spent on. The following are some tips for upgrading your home to accommodate your extended family.
- Solar panels
Paying your utility bills is an inevitable part of owning or renting a home. A benefit of owning your home is that you can decide if you want to try alternative energy sources. Solar panel installation is a great way to save money and reduce your utility bills. There are generally two payment options when getting the best solar panels possible. One way is to finance them, and the other is to buy them. Both options are attractive but leasing them will allow you to finance the cost of the panels. You will pay the solar company a monthly fee. If you buy them, you can get a tax break and you can sometimes sell excess energy back to the utility company. However, to buy them can be a costly investment – upwards of $20,000.
- Remodeling a bathroom
If you have more people moving into your house, you may need to remodel a bathroom or even add a new bathroom. Remodeling the bathroom will give you an opportunity to update fixtures, perhaps move things around, and create a space that is usable by more people, particularly elderly relatives. The time and cost required will depend on what you intend to do; opting for ADA home remodeling in the existing bathroom to make it more accessible is potentially a weekend project, whereas building a whole new bathroom will take much longer.
- Repurpose a room in the house
You may have a room in the house that is the office or the gym. You should consider converting these areas into bedrooms for the new visitors in your home. Give them a new coat of paint, maybe new flooring, and some decorations and you have created a great bedroom for your extended family. Making room for more occupants by repurposing some rooms in your home is a great solution.
- Add an addition
This option is extremely expensive. Unless you plan on taking out a loan on your house to pay for an addition that would add additional bedrooms and living space, it may not be a feasible option. You must pay for permits, contractors, fees, supplies, and many more things when you are building an addition out of nothing.
- Finish a basement
If you have an unfinished basement, you could consider getting it finished. You could add bedrooms, a bathroom, and living space if you have a decent sized basement. You need to have a contractor evaluate your basement to make sure it is suitable living space. For instance, if your basement gets water in it, it would cause additional expenses since that would need to be addressed. Each basement is different so the cost to finish one into a livable space will be different.
So, if you have extended family coming to stay with you, you have options. You have options that will not cost much to complete and those that are very expensive. Do your research and decide which one is best for you and your family.
