There comes a point in life when you start to think about what you’re going to leave to your children, grandkids, and other loved ones. This world is tough, and anything you can do to make things easier for your descendants makes sense. This is where the idea of generational wealth comes from.
Generational wealth is accumulating assets, such as property, investments, and cash, that can be passed along when you pass away. For most people, the biggest asset they own is the family home. Whether your descendants plan to live in the home or sell it and use the proceeds to better their situation, you want the home to be as valuable as possible.
This is where home additions come in. Here in the Metrowest area, you see a lot of homes that are on the smaller size. Larger homes command larger price tags – assuming of course the home is beautiful, well-built, and well-maintained.
Investing in your home by having a home addition built has multiple benefits. The first is that you will have a larger, more comfortable home. If the family’s cramped right now, or there’s just no space for anyone to pursue their interests in comfort, or the storage situation is a constant headache, having a home addition can solve those problems.
The second benefit is that you’re increasing your home’s value. Building wealth this way is a decision many families make strategically when they’re thinking long term. We’ve all seen real estate prices go way up over the years, and the Metrowest region in particular can confidently be expected to hold value.
We’re currently booking home additions in Metrowest in early 2024, to give you an idea of timelines if you want to talk this plan through with your financial advisors. If you have any questions, please don’t hesitate to get in touch.
