How much will home additions cost you? Heard the story of the elephant and the blindfolded men? A group of blindfolded men were all asked to touch an elephant and guess what it was. Each man guessed something different based on what he touched: a wall, a tree, a hose, and a rope.
Generalizing the cost of home additions is a lot like trying to identify an elephant blindfolded.
The Parts Of An Elephant
Every aspect of a home addition brings its own set of costs. The price of those elements varies widely by region and circumstance.
Special hurricane-proof construction methods are required in the costal south. Earthquake building codes rule the west coast. It is easy to see that the exact same home addition could have wildly different prices in different parts of the country.
The time of year can also affect the size of your home addition bids. Most contractors look for indoor work in the winter. If you're looking to finish a basement, you might get lower bids in cold weather. If your home addition involved outside framing and roofing, you might pay more during winter months.
The cost of your home addition will also be influenced by other factors: the amount of demolition required, the current cost of materials and your taste in fixtures and trim.
The Power Of An Estimate
Although it can be more time-consuming than a ballpark figure, getting an estimate is the best way to determine the cost of home additions.
Any reputable contractor will be happy to provide a written estimate for a home addition project. You should avoid a contractor who won't take the time to provide such an estimate.
After you've gathered at least three estimates, use the process to evaluate the contractors as well as their numbers. Did the contractor provide the estimate in a pleasant and timely manner? Did the contractor make sure he understood the nature of the job? Was the estimate provided in enough detail to cover all aspects of the home addition?
Gathering estimates helps you to determine your budget and to weed out the shady contractors at the same time.
The More Detail, The More Accurate The Estimate
A home addition estimate is only as accurate as the information you provide. If you hand a contractor a sketch on the back of a restaurant placemat, your estimate will probably be worth about as much as the placemat.
You best bet is to have an architect or designer draw up a set of home addition plans. A good set of plans will pay for themselves in savings of time, money and aggravation.
Ideally, your home addition plan should specify the type, quality and quantity of all materials used in the project. Your plan should also detail the amount of demolition needed to make room for the addition.
In most areas of the country, these plans will have to be reviewed by a local building inspector. Don't skip this step! If the building inspector makes changes to your plan, you'll need to have them for an accurate estimate.
But Wait, There's More!
For budgeting purposes, you should consider adding 20% onto your final home addition estimate. The final price of a home addition can increase due to unforeseen complications, design changes or increases in material costs.
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