Luxury Home Addition Contractors in Denver & Boulder

Home Addition FAQs

Factor reviews some of the most common questions we discuss with clients during an initial home addition consultation.

• What is the best home addition method for my home?

  There are a variety of addition methods that can help accomplish your home renovation goals.

  Bump Out – Adds square footage by adding a room or additional space on the ground level of your home. Bump outs are a great way to renovate your home if you have the appropriate amount of property to expand your footprint. Many of the historic neighborhoods in Denver and Boulder have relatively narrow land parcels which can complicate this process.

  Second Story/Pop Top – Adding a second story or “pop top” has become a very popular renovation method in Colorado. Smaller land parcels in popular Denver neighborhoods have been driving homeowners to build up instead of out. Many of these renovations tend to take place on historic homes so it is important that your foundation can bare the load of a second story. The design team at Factor will oversee the necessary assessments to your foundation to ensure a pop top is appropriate for your home.

  ADU (Ancillary Dwelling Unit) – An ADU or “mother-in-law suite” is a fantastic way to maximize your property’s living space. Adding a living area or office detached from your home can help achieve your goals without significant intrusion to during the construction process. Building these types of additions on top of existing detached garages has been increasingly common in the Denver Metro Area. Laws and limitations on ADUs vary so it is crucial to check with your local municipality on zoning laws.

  The team at Factor will work with you to designate your renovation goals and help you decide which home addition is best for  your family.

• How much will a home addition add to my home's value?

  Even if your family plans to enjoy the home addition for years to come, investing in an addition remodel can add significant value to your home when it is time to sell. Exact return on investment on a home addition project is difficult to estimate precisely due to the fluctuating nature of the real estate market. However, adding square footage and making modern upgrades to your home will undeniably add value to your home’s listing price. Although home addition projects can come with a big price tag, you can address your current living needs without having to relocate and recoup a percentage of the expense when it is time to sell.

   

• What are my options for financing a home addition project?

  There are several routes to go when financing your home addition project.

  Home Equity Loan – A home equity loan or “second mortgage” utilizes the equity in your home as collateral and therefore can have lower interest rates than other financing options.

  Personal Loan – A personal loan is a great option if you maintain a high credit score. Many banks and lenders have specialized personal loan products that are designed for home improvements.

  Cash Out Refinance – Cash out refinance essentially replaces your current mortgage with a higher loan amount and pays you out the difference immediately.