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What is the cost of a home addition?
It is no secret that the cost of a home addition will exceed the cost of almost all other types of renovations. After all, you are not merely knocking out a few walls and putting in some fixtures but you are literally changing your home’s footprint.
The net cost of a home addition of course will vary greatly depending on what type of space you are adding, along with the materials that you are using. In general however, Toronto homeowners should expect to pay between $100 and $200 per square foot.
Is the price worth it?
Ultimately this is a question which you will have to answer for yourself, although home additions do have a number of advantages. If you find that your home is becoming too small for your growing family, or if you simply have always dreamed of having that sunroom, entertainment area, or (fill in the blank for yourself), you may find the experience to be enough to justify the cost.
Then of course, there is always the value that this particular type of renovation can bring to your home – since having more square footage means that when the time comes to sell your house, you can get a better price for it.
Types of renovations
As mentioned earlier, the type of work that is required is going to be a major factor in home addition cost. Basic rooms such as an extra bedroom or a family room tend to be the least expensive and can range from $80 to $130 per square foot.
If plumbing and fixtures are required because the renovation involves adding a bathroom or a kitchen, it will naturally bring that price up. In this scenario, a homeowner could be looking at a price point of $200 per square foot or even as high as $250.
Because of the variables involved, price differences from one addition to the next can vary significantly. A basic 400 foot living space for example might run you anywhere from $32,000 to $52,000 but add a kitchen or bathroom to that mix and the price tag could exceed $100,000.
Understanding cost breakdowns
Adding an extension to your home is a big investment because there is so much involved. The following is a breakdown of some of the associated costs:
- Architectural design services – before any work can be started it is important to ensure that the renovation planned is appropriate for the home and neighbourhood. Codes and bylaws must be adhered to and building permits must be obtained.
- Demolition and preparation – The site must be prepared through demotion and excavation. If increasing the footprint, concrete footings must also be poured.
- Support structures must be built – this includes roof trussed and beams that connect the existing structure to the new one.
- Exterior elements including shingles, siding, insulation, windows must all be properly installed.
- Interior elements including carpeting, and drywall must be properly installed.
- Plumbing, electrical and HVAC systems must be installed and tied into the rest of the home.
Once you’ve carefully considered what type of renovation you would like, you’ll have to determine whether the cost of a home addition makes sense for you. If you’re still not sure, one of our renovation experts would be happy to arrange a consultation.
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