The addition of a new feature to a home can be a matter of convenience, aesthetics or necessity. However, no matter what the reason, they all have one thing in common. They have the potential to be quite costly. While they will add to the value of the home, the average cost of home additions can vary greatly. Determining the average cost means taking into account a number of variables, such as special features, size and even geographic location.
Home additions come in various types, all of which must be factored into the average costs. The main types are additions made to existing space, such as converting existing space into an extra bedroom or bathroom, and those that require new space to be added. In some cases, new livable space can be added by converting a garage, attic or basement. Generally speaking, the costs associated with new space will be greater than those associated with remodeling existing space.
Other than what type of special construction, such as electrical and plumbing are needed, size is the most costly aspect of home remodeling to be considered. The larger the space, the more it will typically cost in a home addition. On average, for good quality materials that are not top of the line but not bottom of the line, expect to spend approximately $130 per square foot.
Function also affects the average cost of an addition. For example, a bedroom addition will generally cost less than a bathroom addition. Bathrooms, by their very nature, will require additional plumbing and possibly special electrical considerations, all of which will add to the cost. In 2009, adding a 10 by 15 foot bedroom is estimated to cost an average of $3,750 to $7,500, if done by the homeowner. In contrast, it costs approximately the same amount of money to add a bathroom to existing space.
Many homeowners may find they can improve the functionality of their home by building porches or decks. These additions add to the enjoyment of their home during most of the year, yet without the expense of building new permanent exterior walls or roofs. For example, a wooden deck with pressure treated wood may cost $16 per square foot. For a 10-foot by 15-foot deck, this would be $2,600. Compare that to the price of a same-sized bedroom in the previous section.
Many people may assume the homeowner cannot really lose money on the endeavor because it adds to the value of the property. This is not always the case. Sometimes, a home addition could decrease the value. For example, turning a garage into a bedroom could make a home harder to sell or make it sell cheaper, if garages are highly valued in a particular area.
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