What to Expect
In the current market, due to the shortage of available real estate, many homeowners are opting to go the route of increasing the size of their homes by building an addition. The use of the additional space is only limited to the imagination and desires of the homeowner. From the simple use, such as a new bedroom or office, to the more complicated, such as adding a larger kitchen or bathrooms to a home. This article will help you with establishing the proper expectations of what you want to get out of the added space. It really comes down to 5, simple and not so simple questions
- Do I NEED to add space to my home?
- Am I able to add this space to my home, per municipal restrictions?
- What is the value of doing an addition?
- How much does an addition cost?
- How do I intend to use the space? Let’s take a deeper dive into these 5 questions.
1) Do I NEED to add space to my home?
Most people don’t realize the space they have inside their own home. They have gotten so use to their home they can’t see the un-optimized space they have available. This can be an unfinished basement used as storage, a small unused bedroom or simple too many walls chopping up an otherwise useable space.
At Pitt Brothers, you can schedule an onsite Space Optimization Consultation where a member of our design team will come to your home, take all necessary measurement and create a plan of attack for getting the most out of your existing space. The price of this consult varies. $500 for a bathroom, $1,000 for a kitchen and $2,500 for a whole home. If, in the end, you book the renovation with Pitt Brothers, this consult fee will be credited towards your total renovation cost.
Renovating and optimizing an existing structure can save you on average $50,000 to $150,000. At Pitt Brothers, we would much rather see you save money than build an unnecessary addition.
2) Am I able to add this space to my home?
This is the next big question and it’s not a simple one. In the first part, we must figure out if there are any restrictions on building any type of additional, permanent space on the property. There are setback requirements to consider.
Setback requirements are the minimum distance any permanent structure must be from the adjoining property (neighbor). There are height restrictions to consider. Some houses, such as cape cods, are at their maximum setback requirements, however you may be able to go up in height. Sometimes called a pop-up, this type of addition results the most in added space with the least resistance from an HOA or municipality. Pitt Brothers will provide a complimentary virtual plat review and give you the necessary information to determine how big of an addition you may build.
3) What is the value of doing an addition?
There is a never ending struggle of Cost vs Value when you do any type of renovation. An addition is no different. While updating a home has the potential to bring some value, between 65% and 120% of the renovation cost, an addition will, in many cases, give you a return significantly higher. The reason? Adding square footage has a real, measurable impact on the appraised value of a home.
While it does have limits by means of over-improving for your neighborhood, a properly designed, well-built addition, can be evaluated for its potential value add, even before swinging a single hammer. At Pitt Brothers, the new majority partner, Logan Harrington, has an extensive background in real estate investing and understanding the true value add aspect of real estate. He brings this knowledge to the customers of Pitt Brothers so they can make fully informed decisions regarding the impact of value for every dollar they are spending on their home.
During our Design Consultation, we will provide you with a written Value Impact Statement. This statement will disclose what we feel the designed addition will add in value. During the Design Consult, we will also work with you to ensure you are not over-improving your home and spending your money wisely on your home addition.
4) How much does an addition cost?
Next we dive into the big question of price. How much does it cost to build an addition? The short answer is, “It Depends”. There are many factors to evaluate to give an estimate of the investment.
First, how large is the addition? Second, is it a single level or multi-level addition? Third, and probably the biggest factor, how will the space be used? We will address the later in our next question. At Pitt Brothers, we build our estimate in the order of these questions. While price is in constant flux due to COVID-19 demand, a single level addition will generally cost between $195 and $250 per square foot of the addition foot print.
A multi-level addition will add 110% per square foot of addition foot print. For a standard, single level addition of 15 X 15, you are looking at an investment of about $44,000. A two story addition of the same footprint would be about $93,000. Something to remember is this is for open, finished space only for use as an office or bedroom. Bathrooms and Kitchens will be addressed in the next question.
5) How do I intend to use the space?
This may seem like a simple question to answer, but it requires some deep thought and factoring the numbers in. On average, to build an addition space into a kitchen will cost $350 per square foot and $500 per square foot for bathrooms. This is in addition to the cost to build the addition itself. The cost is greatly due to the necessity to run major plumbing systems to the new addition and connect to the existing systems of plumbing, heating and electrical, plumbing being the most expensive.
If you are looking for ways to add space and keep the costs low, forego adding a kitchen or bathroom in the addition and renovate the existing kitchen or bathrooms and use the new space as added living space. Sunrooms or alternative all season rooms are a great way to add living space and increase the value of your home.
So let say we have determined you definitely need an addition and we design a 15’ X 27‘, two level addition, containing a new 10’ X 15’ kitchen and a 15’ X 17’ main level owner’s bedroom. On the second level, a 5’ X 8’ Bathroom, 2 bedrooms, each with a 7’ closet. Total estimated cost? Let’s break it down.
- Addition: $166,000 – $213,000
- Kitchen: $52,500
- Bathroom: $20,000
- Demo Old Kitchen and Refinish to Living Space: $4,500
- Bedrooms and Closets: Included
- Interior Design & Architectural Drawings: Included ($8,500 Stand Alone)
- TOTAL COST: $243,000 – $290,000
Expectations: The following are some timelines you can expect for various stages of the project. Please remember, these may vary depending on the specific area you are in.
- Architectural Drawings: 2-4 weeks
- Interior Design: 1 day per 200 Square Feet
- Permits: 2-10 weeks
- Construction: 3 weeks plus 1 week per 100 square feet (Talk to us about our expedited building process if you are seeking a faster turnaround time)