The cost of a room addition would definitely be higher, if the plan is complex. You would have to shell out more money for a larger room that includes a kitchen/bathroom. Thus, you must take several factors into consideration, before you decide to add another room to your home. This DecorDezine article provides information on the factors that might affect the cost of a room addition.
|A room addition would cause the property tax, energy bills, or other utility bills to rise. So, make sure that your finances are in order.|
If your family is growing and the living space in your existing home can no longer fulfill your requirements, then you could either move into a larger home, or add a room to your existing home. Room additions certainly seem to be a better option for those who don’t wish to relocate or move into a new place, but make sure that you take a well-informed decision. Though this would certainly seem to be a less expensive affair than buying a new home, homeowners must take certain factors into consideration. Anyone who is thinking of adding a room must have a clear idea about the amount of money he/she is willing to spend. One must gather relevant details about the cost of materials (foundation, footers, framing, flooring, HVAC, plumbing, electrical, new windows, etc.), labor cost, and other factors that may affect the total expenditure.
It is extremely essential to hire a good contractor, as this task is not that simple. After all, the new room has to blend or get integrated into the existing home in terms of the structure and design. Thus, one needs to conduct a thorough research to learn about the various aspects involved in this project. Those who fail to do so, may lose their peace of mind when the hidden costs cause the total expenses to shoot up. The following sections provide information on the cost that may be incurred in this project.
Once you pay the building permit fees and the authorities give their approval for your project, you must calculate the estimate of the costs that may be incurred. The total cost will include the contractor’s fee, labor cost, and other application costs. Ask your relatives and friends about reliable professional contractors. It’s extremely essential to find a licensed contractor who is skilled and trustworthy. Meet several contractors, and pick the one who is skilled, and is ready to offer his services for a reasonable charge.
The number of laborers hired and the number of hours they would be working on your project would determine the labor cost. Thus, it is essential that the task is finished within the completion time that was agreed upon. You must also keep an allowance for hidden costs.
The measurement of the square footage is very essential for calculating the total cost of this home improvement addition project. Online cost calculators could be used to form a general idea about the price per square foot. You also need to gather information regarding labor and material costs involved in plumbing, carpentry, and electrical fitting jobs.
If the plan is complex, one might have to hire an architect, which will contribute to the cost. One of the factors that would influence the overall cost is the size of the addition. For instance, on an average, an addition of 300-500 square feet could cost anywhere between USD 25,000 to USD 50,000, whereas you might have to shell out anywhere between USD 65,000 to USD 1,10,000 for a 500-1,000 square foot addition. However, a considerable increase in the square footage would also pay off in terms of the resale value.
The cost will vary depending on the complexity of the plan. You could end up spending anywhere between USD 200 to USD 300 per square foot for a home addition that includes a bathroom or a kitchen. Be ready to shell out more money in such cases. The price could go higher when the square footage is increased. For instance, for a 16×25 foot room, one may have to pay anywhere between USD 30,000 to USD 100,000. One would naturally have to spend more, if lavish landscaping and modern interior designing ideas are involved. If your plan involves building a floor, porch, or a deck, costs would surely increase manifold. A plan that involves building a floor could cost one anywhere between USD 250,000 to USD 450,000.
Room additions might be a little less expensive than buying a new house. It is a great investment, as it might increase the market value of your home. However, you need to be clear about your requirements and your budget. So, etch out a comprehensive plan about managing the costs. The more thorough your plan is, the lesser the likelihood of getting burdened by hidden costs. So, conduct proper research, and chalk out a comprehensive plan with accurate specifications, and get ready to enjoy that additional living space.
Disclaimer: This article is for informative purposes only. The costs are subject to change, and might differ from region to region.