Research shows that when it comes to big purchases people research for hours online about cost, quality of the product, quality of the company's work, and more. A remodel or home addition is not only a very big purchase but a large investment in your home, your neighborhood, and for your family.
After researching reviews and the quality of work - the cost of a home addition can stop some people in their tracks if they come to find out it was more than they were expecting. At Tilghman Builders we want to be transparent with you about the potential cost of your home renovation. We understand that no two houses are ever the same, which results in no two renovations ever being the same - but with this blog we can give you a better idea of what prices you can expect.
- For example, a small addition on the back of the house, such a a 10'x12' space to expand a living room, could average $60,000.
- A large 2-story addition, that doubles the size of the house and adds a master bedroom and bath, a new kitchen and living space can go up to $400,000.
You may have enough bedrooms to fit the family, a decently-sized kitchen, and plenty of bathrooms to go around - yet when it comes to your living space there's barely any room. A living room addition can range in price but can give you the room for more storage, an expanding family, entertaining during the holidays, or just more room for the family to relax.
Things to consider:
Are you looking to add some space or completely redo the bottom half of your home? Planning a remodel takes time and lots of decision-making. Throughout the entire project you will need to make decisions on what types of fixtures to install, what type of cabinetry, and how much storage you want to add. Be prepared to have an idea of what you want so as not to hold up the contractors by taking too long to decide.
Thinking of adding a master suite to your home? When planning a bedroom addition, don’t just think “bump out” — think “build up,” “do over,” and “fold in” the space you already have. An investment in a master suite can pay back about 53% of its cost, however, 88% of homeowners said their new master suite increased the enjoyment of their home.
Things to Consider:
Your expenses don’t end when the last faucet and light switch are installed. Every month you’ll pay higher energy bills to heat, cool, and light your new space.
If you add 400 square feet to a 2,000-square-foot house — 20% more space — your energy bills likely will grow by 20%, too. Your property tax bill may increase by a larger percentage, because you’re adding space and installing a bathroom, which tax assessors value at a higher rate than other rooms.
In-law suites can be described as creating a "home within a home" for loved ones who cannot live on their own any longer. By adding an in-law suite you are building a living space, extra bathroom, sometimes kitchen or kitchenette, and possibly a separate entrance so your loved ones can keep their sense of privacy.
Reasons for building an in-law suite:
- Parents are aging
- Adult children moving back in
- Want to stay in neighborhood but your family is growing
- Price is a factor in future plans
- You’re looking for your “Forever Home”
Things to consider:
Make a list of the extra features you'd wish to include in your in-law suite. Do you need a bench in the shower? Lower counters, wheel-chair ramps, or hand-rails throughout the home? These will add to the cost of your in-law suite and will require a higher budget in order to build.