How to Accurately Estimate Home Addition Costs
By Mark J. Donovan
|Building a home addition can frequently cost more than an interior home remodeling project. Unlike finishing a basement or an attic conversion project, a home addition requires new ground and foundation work as well as exterior framing and construction. Consequently building a home addition is typically one of the more expensive routes for creating additional home living space.
Estimating Home Addition Costs
When planning a home addition, it is important to think through and list every phase of the project to most accurately estimate the total home addition costs.
Creating this list also enables you to determine what type of subcontractors you will need for the project. For example, the new foundation work will require an excavator and a foundation installer at a minimum. If the home addition impedes upon an existing leach field or may go over existing underground power, gas or plumbing lines and pipes, septic installers and utility companies may need to be brought into the project.
By taking this total cost and dividing it by the number of additional square feet associated with the new home addition you can arrive at a cost per square foot number. See my Home Addition Bid Sheets to learn more on how to plan and estimate costs for a home addition project.
|The cost per square foot of a home addition can vary widely depending upon where you live, economic conditions, and the type of home addition you are building. Home addition costs per square feet can also vary widely even on the same project. Thus it is important to get several contractor or subcontractor quotes for each phase of the home addition project. With multiple contractor quotes for each phase of the project you can determine a better total average cost per square foot for your specific home addition project.
In addition, you can even determine an average cost per square foot for each phase of the project. With this information you can then determine which contractors/subcontractors are out of line with their specific quotes.
Though home addition costs are typically higher than finishing a basement or attic, it may not always be the case, and thus a home addition maybe the most cost effective solution. Specific circumstances in finishing a basement, such as basement moisture problems or low hanging plumbing pipes could significantly increase the cost per square foot of a basement remodeling project. Consequently a basement remodeling project could potentially have costs that are on par, or even higher than building a home addition.
|So when contemplating building a home addition or creating more living space within the existing home, make sure you consider the total cost for each option. Home addition costs are typically more expensive then a home remodeling project, but not in all cases. It depends heavily upon your specific living space requirements, and your home’s unique set of conditions. It is also important to recognize that cost may not be the only factor in your decision process. Property setbacks and personal tastes on creating additional home living space can and should play a major role in your decision process.||
For more help on building a home addition, see HomeAdditionPlus.com’s Room Addition Bid Sheet. The Room Addition Bid Sheet provides you with the knowledge on how to plan a house addition project, and what to look for when hiring contractors for your new home construction. It also includes a detailed cost breakdown table and spreadsheet for estimating your own new home addition building costs.
- More Tips on Estimating Costs on a Room Addition
- Use this Free Room Addition Checklist
- How to Hire the Right Home Building Contractor
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