Do you need a bit more space? Many people love their homes and their neighborhoods, but they just need a little extra room to feel comfortable. If you started working from home during the pandemic, you might want a home office. If your family is growing, you might need an extra bedroom for your kids. Instead of selling your home and looking for a larger one, you could increase your property values with a room addition. Show Learn about the average cost for a room addition and the different factors that contribute to this price. What is the cost for a room addition?According to HomeAdvisor, the average cost for a room addition in 2021 ranges from $20,000 to $72,000. The national average cost is $46,000. This dramatic range is caused by multiple factors related to the room’s size, location, and features. On the low end, you might be able to spend $5,000 for a room addition if you are sealing in a patio or turning a sunroom into a climate-controlled space. This is because you already have the foundation and utilities in place. On the high end, some people spend more than $140,000 to build additions to second-story properties where the existing roof needs to be removed and redone. Knowing these ranges can help you set a budget for your room addition, but keep in mind that the total cost will depend on your home goals and the average prices in the area. Understanding the Cost Associated With Room AdditionsThe features you need for your room addition will contribute to the overall cost. For example, the cost will be higher if you want to build a new bedroom with an en suite bath because you will have to figure the costs for plumbing along with your other expenses. Even hooking up an electrical system so you have a ceiling fan or extending the air ducts in your HVAC system will change your overall budget. Consider a few of these costs as you plan for your home addition so you have enough saved:
The larger the home addition, the more expensive it will be. However, the cost per square foot will actually decrease. First, the cost to hire an architect to draw up the blueprints and the cost to file permits will likely remain flat regardless of your room size. While bigger rooms need more materials, the hourly cost of labor remains the same. Doubling the size of a project won’t necessarily double the cost. There will be an increase in the cost, but it might not be as high as you think. If you are investing in a room addition, focus on your needs first, then look at the costs. While you might save money with a smaller room, you could also end up with an addition that is too small to be effective. Agents Compete, You Win. Hire a qualified Realtor to help you buy or sell a home. Placement Has a Major Effect on CostThere are many places in your home where you can install a room addition. Even smaller houses on urban properties have options when homeowners are considering what they can build on to. However, not every extension has the same price tag. There are different expenses that will drive up the cost for a room addition – many of which are non-negotiable. A few types of home additions include:
As you can see, there’s a significant difference between bumping out a ground-floor bedroom to make it larger and building an above-garage guest apartment. This is why the cost for a room addition varies so much. Regional Contractor Prices Will Also Affect Your BudgetHomeowners who carefully research and budget for their home additions might be surprised to find that the estimates from local contractors come in higher than expected. This is because of national economic factors and regional labor markets. Some cities are more expensive to build in than others. The hourly cost of labor is higher for contractors and subcontractors. This will increase your project fees. Nationally, supply chain issues continue to affect what goods are available to consumers. The price of lumber was incredibly volatile in 2020 and remains high into 2022. Your contractors may have to increase their average estimates to account for these costs. Make Sure Your Room Addition Will Increase Your Home ValuesYou want your room addition to make your family more comfortable, but you also want to make sure the investment will increase your resale value. As you collect estimates for the addition, talk to a Realtor about what kind of return on investment you can expect. They can give you an idea of how adding an extra bedroom or building a home office can affect the demand for your home and its listing price. If you want to find a Realtor you can trust, our team at UpNest can help. Use our service today (it’s free for buyers and sellers). How much does a room addition cost? The average cost for a room addition varies based on size and location. However, in 2021, most homeowners paid between $20,000 and $72,000 for a room addition according to HomeAdvisor. On the low end, you may be able to have a room addition for $5,000 if the foundation and roof are already in place. What affects room addition costs? There are multiple factors associated with your room addition. The size of the addition, the location, the cost of supplies, and the local contractor rate will contribute to the estimate for a room addition. For example, the cost to build a room and bathroom on the second story is higher than adding an office to the ground floor. What is a bump-out? A bump-out is a home addition that increases the size of an existing room. For example, you can create a bump-out in a ground floor bedroom to make it a master suite or bump out a kitchen to make it larger. These additions are more affordable because the room already has electrical, HVAC, and plumbing. |