The high price of properties in the USA today is changing the face of american families and how they live. Young people are finding it difficult to find properties of their own and deciding to stay with mum and dad for much longer. The ideal solution would be to move into a much larger home but property prices are ruling out this route for many families today. Just a few decades ago this wouldn’t have been a problem because rents were much more affordable, mortgages were easier to obtain and the general price of property was much lower. Young people are being forced out of the USA property market and choosing to stay at home well past their teens.
One solution, when you need more room in your home, is to build an extension or convert the attic into a usable living space. Recent figures indicate that as many as 3.3 million 20 to 34 year olds are still living with their parents. Rather than squeeze into the available accommodation families are choosing to extend or make better use of space as opposed to moving house. It is not just grown up children who are staying at home. An increasing number of elderly parents are moving back in with their children.
Building an extension is a more affordable option for many families today. On top of high property prices there are added costs of stamp duty, legal fees and agency expenses. When you compare this with the cost of extending your home and creating a separate living space for a family member the choice is pretty obvious. However before calling in the builders there are various home improvement ideas that could make a difference to the overall living space without costing a fortune.
You could open up your rooms for a more open plan approach and create multi-functional areas with more light. You could convert an unused room into an extra bedroom, turn the garage into a cosy living space or maximise the use of your current space by using under the stairs for extra storage or as an additional bathroom. The cost of remodeling your property will depend on the scale and complexity of your plans but expect to pay between 500 and 800 pounds a square metre. For a garage conversion, which is fairly ambitious, the cost could be as much as 1200 pounds a square metre, while a loft conversion will be slightly more and a basement conversation more again. If you’re looking to build a whole new extension then you’ll need to allow for 1500 pounds per square metre.