It doesn’t matter how big or small a house you bought. After some time, you will feel more space would have been better. While that’s the constant pet peeve, you can address this issue with an adequate budget. For a few thousand dollars, you can have that most sought-after home office, an ensuite bathroom, etc. Surveys suggest that such renovation or remodel works cost around USD $22-81k on average. Let’s learn about the options.
Cost of building additional rooms
Every room addition will cost you something based on its functional nature. It matters if you opt for a full expansion or a bump-out addition. Suppose you build a home office in a corner of the house. You can expect this to cost around USD $18-35k. The dormer will be more expensive to construct at around USD $44-76k. People opt for this to make their lofts usable. It’s a roofed structure with windows. A balcony can be a good addition if your house needs more sit-out areas. You can complete this structure for as little as USD $600 to as high as USD $2400.
Some houses need separate laundry rooms. You can build one in your existing home at around USD $5-8k. You get excellent practical laundry sink solutions in stainless steel. Hence, this project can be worth pursuing. Depending on your expectations, an additional bathroom or kitchen can be accessible for around USD $13-60k. Kitchens are more affordable, though. Something like a sunroom addition can be a matter of luxury and pride. It also boosts your real estate value. If you want to feel privileged, go for it, provided you can spend USD $10-80k. Another similar envious addition can be a home theater, which one can build for USD $70-90k.
Analysis of the cost by project
Every space or room has a special role in your life and property. Hence, it’s worth evaluating the goal before starting with anything.
Suppose it’s an average 161 square feet kitchen. Full remodeling costs can vary from USD $75-250, while new build costs around USD $100-300 per sq ft. Custom designs can demand USD $125k or higher. Design and the scale of the project are two crucial variables to affect your budget. If you demolish a kitchen to rebuild it, you will pay for that work additionally. While the house’s condition increases or decreases your real estate’s value, this project can give you an 83% return.
Media or game room
Do you like to host family and friends over weekend nights for fun? Then, you must have thought about having a dedicated home theater space. But it requires expert intervention for design and architecture. Suppose you build it in an 800 sq ft area. You can expect the project to cost about USD $70-90k. This additional space can return 65% of the value when successfully done.
You can work on this project in either of two situations: the existing space is too small, or there is none. Your project’s budget will depend on insulation, storage, plumbing, heat, and finished walls. Houses with carports cost less because you already have a roof and foundation to build your garage. Nevertheless, on average, 400-576 sq ft of space will cost USD $35-60 per sq foot.
This space lets you do many things to comfort your soul and mood. Drink your coffee in peace, care for the tiny plants, or indulge in your favorite author’s book. Unfortunately, it is an expensive remodeling project, especially as you add windows to make this room more versatile for different seasons. The cost will increase if you add plumbing, HVAC systems, insulation, etc. On average, this room measures around 80-240 sq ft. If you build a four-season sunroom, it may cost about USD $45k. A three-season structure will be affordable at a budget of around USD $25k. You get prefab options nowadays, accessible for USD $5-30k on average.
Suppose you build a front porch to make your outdoor time more fun. Such projects offer 66 to 80% of the ROI, a great value addition. It increases your house’s curb appeal. This structure will cost more if you add screens and stairs. Still, you can spend USD $2600 to USD $22 000 on a 200 sq ft space of this kind.
Second or more stories can do with an added outdoor living area like this. The project’s overall expense will depend on the quality of the materials, design, elements, labor, etc. Balcony size will also be a vital component. Generally, the ideal size is 40 sq ft, costing around USD $20-90 per sq ft. The average cost per sq ft can be USD $35.
You may want to add a more accessible laundry room if the older one is on the top floor of the house or if there is a too-small space with a dryer and washer where you manage your clothes. A separate laundry room can increase your house’s aesthetic appeal and value. Its ROI can be 50-70%. The average laundry room measures around 35 sq ft. You can calculate your budget by considering it would cost USD $230 per sq ft.
A few things about labor fees
Their charges depend on the nature of the work. For excavation, they usually ask for USD $40-150 per hour. Foundation work can cost you USD $4-25 per sq ft. They charge USD $50-100 hourly for electrical projects. Drywall can be less expensive, attracting USD $1-3 charges per sq ft. Anything related to windows can make you spend USD $40 per hour on labor. Roofing is costly; you can expect them to charge USD $75-600 per sq ft. For flooring, the labor cost should be around USD $3-22 per sq ft.
No matter the reason for adding a room, you can eye a multitasking area to increase your home’s efficiency. Laundry rooms, home theaters, garages, and others are good examples. Still, look around the house and your daily requirements to choose your project wisely. Once you have built a structure, reversing the construction will take time and effort.