You can expect to spend anywhere from $5,600 to $125,000 or more on a home addition depending on the type of addition, the materials used, labor and your location, according to HomeAdvisor. This means home additions are among the most expensive and time-intensive renovations you can do. If you’re on the fence about moving forward with adding onto your home, the home addition cost is probably one of the biggest determining factors.
How much do home additions cost?
Each home addition is unique, so the cost of your project will likely be different from that of your friend’s addition. If you’d like to add on to a ranch-style house and build up or out, you may pay $80 to $200 per square foot.
A second-story addition will likely cost you anywhere from $100 to $300 per square foot. If your goal is to add on to your prefab or modular home, you can expect to pay about $25 per square foot.
While you can estimate the cost of your home addition, keep in mind that unforeseen expenses may pop up. For this reason, it’s a good idea to budget about 20 percent extra for your project, according to HomeAdvisor.
Cost breakdown of a home addition
Builders use many factors to calculate a quote for a home addition, including size and location.
While many online resources will offer estimates for the cost of a home addition by calculating the price per square foot, it’s not usually accurate. A 100-square-foot addition won’t cost twice what a 50-square-foot addition costs. On average, doubling the size of an addition will increase the price by one-third.
Indoor and outdoor obstacles need to be removed or relocated to make room for an addition, which in turn drives up the project cost. Where do you plan to build your home addition, and what’s there right now? Think about landscaping, HVAC systems, electrical wiring and even hidden obstacles like underground pipes.
Most people who build home additions want the new parts of their homes to match the existing structures. You’ll have to pay for whatever materials were originally used to build your house if this is something you want for your addition. Wood siding, for example, is three times as expensive as vinyl. You’ll also likely need to extend the roof to cover the addition.
Local zoning laws
Every municipality has different zoning laws for home additions, and your home addition cost could go up if you need to meet certain compliance standards. Water drainage, septic systems and electrical wiring are just a few examples of components that could be regulated. A qualified local builder will be able to inform you about the requirements in your area.
Tips for saving on home addition costs
If you’re worried about how much house additions cost, there are plenty of tricks you can use to bring the final price of a new room down, including:
- Get bids from multiple local contractors.
- Take advantage of tax refunds for energy-efficient construction.
- Use fewer expensive building materials.
- Don’t opt for fancy customizations.
- Negotiate tasks you can complete on your own.
- Shop around for the best interest rate on financing.
When to get a home improvement loan
A home improvement loan is a particularly good option if you have good credit but lack the cash to pay for your entire project up front. Before you take out a home improvement loan, however, do your research.
If you love the location of your house but wish you had more space, a home addition may be a great option. Before you commit to one, determine the scope of your project. Think about what type of addition would be best for your lifestyle needs.
Then, secure the ideal contractor and source of funding for your situation. As your project gets started, remember to be patient and keep in mind that there may be some roadblocks along the way.
All the time, money and energy you invest into your home addition will likely leave you with a new space you’re proud to call your own.