Perhaps you're out of space in your current home but love your neighborhood and want to stay. Or maybe you have enough space but you want to reconfigure your space to better suit your needs? The pandemic has made many of us rethink our living spaces, and has shown us what we really need and really value. If you're curious what adding on to your home could cost, read on below. Important note: costs can vary based on location and current supply conditions. Cost can also vary significantly based on design and material choices. Costs below are based on average choices.
Building Outward: Instead of building upward, building outward can often be less expensive than building up. A typical range is $150-$200/square foot. So for 400 square feet of additional space, you can expect to pay at least in the range of $60,000-$80,000. It is important in this scenario to consider how building out will impact your yard space - and important to be sure you have the yard space to accommodate building outward.
Building Upward: This may be your only option depending on your lot size, or it may be an architectural preference. Either way, building upward is typically more expensive. The expected cost is $300-$500/square foot. Keep in mind in this scenario, you have to remove the roof, add stairs, change the floor plan, or more. In this example, a 400 square foot addition could cost between $72,000-$100,000.
Adding a Bathroom: Important considerations for a bathroom addition include fixture choices, plumbing, and labor costs. While the range can vary significantly, you can typically expect to pay $20,000-$90,000 and expect, on average, a 53.1% ROI (return on investment).
Adding a Bedroom: The number of bedrooms can have a huge impact on the sale of a home. A bedroom addition can cost, on average, $50,000 with a 54.7% ROI.
Adding a Sunroom: Extra living space with lots of bright light is a serious bonus. You can expect to pay between $8,000-$80,000 for a sunroom, with a 49% ROI.
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