Of all the home renovation projects that people dream about, adding a new level to the home is one of the biggest. Imagine all that extra room and increased curb appeal. There are myriad things you could do with the extra living space a new level would afford, to say nothing of the huge leap forward in market appeal.
But despite all these great benefits, most people rule out the idea of adding a new level before the plans progress very far. Why? Because this is one of the most expensive and logistically complicated home renovation projects out there – or at least it seems that way. People tend to have a “realistic” attitude toward their home renovation ideas. Projects that come at a high cost are usually ruled out in favor of more affordable ones. Besides, what if you added a new level to your home and really weren’t happy with the result? That’s a very difficult thing to bounce back from, and people tend to stick with a safe bet.
Are the costs really as high as people think they are?
In a word, yes – adding a new level to your home is a major investment. And it should be. This is a project that will require precision and meticulousness at every stage, from planning and assessing the project, to surgical demolition work, to safely and professionally finishing the new level.
Online estimates generally state that a second-story addition of roughly 600 feet will cost about $100,000 to achieve. Another option people typically consider in this price range is a two-floor garage with the second floor dedicated to living space. This kind of project often clocks in at the $100,000 – $150,000 range.
A very important question people ask when considering this kind of project is whether the investment will be recuperated on the valuation of the home. It’s rare for any home renovation project to immediately pay for itself in terms of market value, but the right second-story addition can be an exception. Significant market value will certainly be added when the project is complete, and over time, the investment can definitely pay off – and that’s speaking from a purely financial standpoint. There are also the lifestyle benefits to consider.
Finding the right people to deliver your result
Adding a level to your home is one area where you absolutely want to avoid cutting corners. Obviously, there are specific safety standards that will need to be met, and inspections that will need to be carried out by your local authorities, in order to ensure that the job is done safely. But let’s be honest – you don’t want a contractor who is going to do a “sufficient” job on your new addition. You want someone who goes above and beyond the norm, delivering a professional and reliable result – right down to the last nail. Finding a contractor like this may take a little extra research, but when you consider the average cost of adding a level to your home, taking your time to find the right contractor is well worth it.