Estimating the Cost of a Home Addition Before You Start
Adding on to your home can be a great solution to gain the living space and storage you need without shopping for a new house. Before you decide to build, however, you should determine how much a home addition may cost. If the expense is too high, you may not be able to get the return on your investment when you sell. Here are a few helpful tips to help you estimate the cost of a home addition before you commit.
Start With Size
One of the key factors you should consider is how big you want your addition to be. A simple porch or sunroom, for example, can be an affordable way to add on to your home, while expanding a second floor or another wing may be out of your budget. You should also do research on the average cost of square footage in your area to know what a typical addition should cost.
Track the Money
The three main expenses that make up your construction budget are materials, labor, and contractor overhead or permits. If you want custom, high-end materials, you can expect to pay a pretty penny for them. You may want to see where you can stretch your dollar before you decide what to splurge on. Some of the other factors that can affect your bottom line include:
- Type of foundation
- Siding materials
- Electrical and HVAC needs
- Demolition and permits
- Roofing and windows
Your budget should also be flexible enough to cover unexpected outlays such as hiring an architect for drawings or repairs needed after demolition.
Know Your Contractor
While saving money on your home addition may be a priority, you should not go with the lowest contractor bid for your home addition. Instead, focus on finding a builder you can trust to do the work correctly the first time. Bohan Contracting has the experience to handle any size home addition with quality workmanship and exceptional customer service. Contact us to learn more about how we can help you with your home renovation or addition, at (410) 757-0971.