Are you outgrowing your house? You’re not the only one!
According to HomeAdvisor, the average cost of putting an addition on a home is $46,165, with homeowners reporting costs ranging from $20,715 and $71,615.
So, how much would an addition cost YOU?
Mitten Made Properties has been managing real estate in Metro Detroit for years now, and we’ve learned a thing or two about adding a room to a home.
Here’s a breakdown of factors to consider.
Construction Costs in Your Market
Cost-of-living differences across the country apply when it comes to home renovations. The best course of action is to get multiple quotes from local architects and contractors. The same job could cost half the price in Detroit as it would in New York, or twice as much as it would in Mississippi.
Consider Room Size
You probably assume that a bigger room will be more expensive. And that’s true in terms of overall project cost, but not when it comes to the price per square foot. In fact, the cost per square foot of this type of project typically decreases as the size of your room increases. So it’s not always better to go small. Adding 10% to your budget could add 30% to the size of your addition.
Consider Room Placement
One of the biggest cost factors for an addition is its placement. Second-floor or two-story additions are more expensive than first-floor additions. Is the addition in the front or back of the home? What challenges might there be (e.g., a tree that needs to be removed, sloped ground that needs to be graded)? Local contractors and architects are experts at seeing the entire scope of the project, including things you may not have considered, when they visit your home to provide a quote.
Your Family’s Displacement
Depending on the location and utilities going into your addition, you should prepare to be at the very least inconvenienced by the construction project. You may need to spend the night elsewhere for a span of time, or vacate the home sporadically for more major aspects of the project. Costs associated with your family’s displacement include restaurant meals when the kitchen is off limits, to hotel bills, storage facilities for furniture, and more.
Another option is to upgrade to a bigger home that better fits your needs. In fact, at Mitten Made Properties, we can purchase your home for a fair cash price, as-is, in as little as two weeks – on your schedule. That makes it easy for you to plan the closing date on your new and more spacious home without having a lapse in accommodations. Give us a call at (248) 883-3340 to learn more!