In this article, you will find information about the costs of home additions and their details.
Estimating the Cost of a Home Addition
The cost of a home addition can vary depending on many different factors. You could spend anywhere from $10,000 to $100,000, or anything in between.
Here are some common factors that affect the cost of a home addition:
- Type of addition: Some rooms are more complex than others. For example, a bedroom doesn’t require the infrastructure of a family suite. The more complex the room, the higher the cost.
- Materials used: The cost of building materials like wood and features like spa baths or kitchen appliances can affect the price of the addition.
- Contractor: You may receive varying estimates from different contractors for the same project.
- Square footage: The larger the addition, the more it will cost, considering other equal factors.
- Location: Construction costs may be higher in urban areas where the cost of living is higher.
- Building up or out: Building an addition above the ground floor is more challenging for contractors, so a first-floor addition is generally less expensive than a second-floor addition. In other words, building out is cheaper than building up.
- Economic conditions: Broad economic trends play a role in home addition costs. For example, a shortage of construction workers can lead to a labor shortage, which in turn can cause contractors to pay higher wages in an attempt to fill positions. Ultimately, in this case, the costs of a home addition will increase.
Cost of Home Additions by Room
The cost of home additions can vary greatly. One of the largest factors affecting cost is the type of addition you are building.
Each room requires different features that can affect the cost. For example, a simple walk-in closet with just drywall and durable flooring may be cheaper than a new kitchen that requires appliances, plumbing, and ventilation.
Here are some average cost ranges by room type:
- Simple bedroom: $8,600 to $21,600
- Bathroom: $6,200 to $90,000
- Master suite: $25,000 to $100,000
- Kitchen: $48,000 to $95,000 or more
- Living room: $17,300 to $43,200
- Family suite: $44,000 to $100,000 or more
- Sunroom: $16,000 to $80,000
- Walk-in closet (50 square feet): $8,000 to $16,000
Adding a Suite for Your Extended Family
A family suite, which provides separate living space, is a type of home addition that has gained popularity in recent years. It is one of the more expensive types of additions, usually costing no less than $44,000, but it adds significant value to your home.
Note: Independent and separate family suites from the main home are more expensive than attached home additions.
Features like a small kitchen, living room, and bathroom can make a family suite more expensive than a simple bedroom addition. Typically, a family suite has its own entrance.
Adding a Sunroom
The costs of sunrooms can vary widely, from about $16,000 to $80,000, depending on size and materials used. Large windows are a common feature in sunrooms, which are typically made of vinyl or aluminum.
Sunrooms, with their multiple uses, can add value to your home with a return on investment of approximately 50% to 80%.
Adding a Master Suite
The cost of adding a new master suite can range from $25,000 to $100,000 (or more). However, it is also a valuable addition, as it is expected to have a return on investment of about 55% nationally.
Several
Features that can affect the cost of a master suite, including the addition of a bathroom among the main considerations. Also ensure to take into account the total square footage, type of closet space (walk-in or reach-in), and whether you will be building above the ground floor or expanding upward. Building a vertical addition on the second or third floor costs significantly more than building on the ground level.
Adding Another Bathroom
Adding a new bathroom is a very common addition for homeowners with growing families. Costs can vary widely, ranging from $6,200 to $90,000, with an expected return on investment between 50% and 60%.
Affordable bathroom additions feature low-cost elements, such as simple shower stalls, toilets, sinks, and basic flooring. On the other hand, high-end luxury bathrooms may include upscale features such as a hot tub, dual sinks, walk-in closet space, heated and tiled floors, or a separate toilet room.
Adding Value to Your Home
A home addition is a great way to upgrade your living space without the need to buy and sell a home. However, as noted from the aforementioned costs, expenses can be significant.
Fortunately, a home addition also adds significant value to your property, allowing you to recoup some of the costs when it comes time to resell, and you can build equity in the property.
Note: If you plan to sell your home soon, the return you get on your investment is something to consider when making decisions about which projects to complete first.
FAQs (Deadline Open Dates)?
How much does a 500 square foot addition cost?
The average cost of a home addition is $80 to $200 per square foot. Therefore, you can expect to pay between $40,000 and $100,000 to add a 500 square foot room to your home. This depends on various factors, such as your location, how elaborate the addition is, whether it’s a first or second-floor addition, contractor prices, and more.
Is it cheaper to build out or build up?
It is cheaper to build out rather than build up, which often requires removing the roof and installing stairs. You can expect to pay between $80 to $200 per square foot to build out. If you are adding space to the upper floor, you can expect to pay between $100 to $300 per square foot.
What is the average cost of a home addition?
Expect to pay between $20,900 and $74,000 for a home addition, as costs vary widely based on the type of addition and other factors such as size, materials, and location.
Which home additions provide the most value?
Some home additions that can provide a better return on investment include in-law suites, master bedrooms, and bathrooms. The average return on investment for these types of home additions ranges above 50%.
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Resources:
- Angi. “How Much Do Home Additions Cost?”
- HomeAdvisor. “How Much Does an Addition Cost?”
- RemodelingCosts.org. “Top 20 Home Addition Ideas, Plus Costs and ROI Details in 2021.”
- Re/Max. “Hidden Potential of In-law Suites.”
- Remodeling. “2021 Cost vs. Value Report.”
Source: https://www.thebalancemoney.com/how-much-does-a-home-addition-cost-5199920
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