What does an addition cost?

[Dougles]

Does anyone have an idea what a 2 story 25X15 addition would cost? Looking to add master suite and a fam room.

[therising]

My guess - $75k. $100/sf.

[ILOVEDNY]

I'm sure that WNY's rates are a little less then down state but here goes.
For a basic addition.
Roof, walls, cinderblock foundation (where allowed) basic plumbing and electrical.
Basic bathroom fixtures and floorcoverings.
Basic windows and clamshell base and off white paint.

Take your square footage.(750)
Add two zero's.(75,000)

So about $75,000.00

Upstate might be a bit cheaper.
Downstate, houses are still selling at about $180/Sq Ft.
Any upgrades and permits will be extra.

2 points.
If your a bit of a hands on guy and have some favorite trades who you know.
See if your contractor would allow your subs.
Some trades you might need are plumbers, floorcoverings, trim work.
This would be very helpful if you plan to upgrade in these areas.

Most Contractors don't like this but hey.... You're paying the tab.

After coming off a much better year in 2011.
2012 has started off with a bit of suck for the industry.
So prices are tighter.

Get 2 or 3 referrels from friends who have sucessfully completed projects.
Then get quotes from them.

Check the contractor out through your local Consumer Protection Agency.
Don't bother with the BBB.
Pay your dues on time and you too can have an A+ rating.
Same with Angies list.

Just remember.
The contractor will usually require 1/3 to 1/2 deposit.
There are quite a few guys right on the edge.
It's very hard to get any kind of satisfaction from a bankrupt business on an unfinished project.
Do your homework on your contractor.

[nogods]

I had one added 16 years ago - total cost 80,000+ - included a full basement, 16 x 20 great room on 1st floor, a small bedroom on second floor and master bedroom/bath on second floor, with 7 foot peak in attic

Deposits to contractors are BS - any contractor that wants more than a $100 dollars to sign the contract is using your money to finance his existing projects - tell him to go see a bank.

If the contractor claims he won't sign a job unless he knows he is getting paid then have your lawyer hold the money in his trust account under a simple performance payment schedule.

The contract should provide for performance payments when product is delivered to the site and when construction is completed.

Moreover, any deposit you give the contractor is suppose to go into a trust account - not his pocket - good luck finding a contractor with a trust account.

Remember, the subs can file a lien against your property if they are not paid by the contractor.

[yaksplat]

$85 - $100 per square foot.

Contractors make a killing on second floor rooms. In reality the only additional cost for a second floor room is the walls.

[Dougles]

Is it safe to assume that adding a 2 story addition that will total 600SQ Ft (300 on each floor) will cost less then a 1 floor 600 SQ Ft addition due to the size of the foundation pour?

[ILOVEDNY]

Deposits to contractors are BS - any contractor that wants more than a $100 dollars to sign the contract is using your money to finance his existing projects - tell him to go see a bank.

Remember, the subs can file a lien against your property if they are not paid by the contractor.

Good luck finding a contractor who will order the materials for a $75,000 job with a hundred dollar deposit.
The contracts I've done with NY State have clear payment schedules.
1/3 Deposit.
Another 1/3 at 50% completion.
Balance net 60 days upon completion.
The state will usually require a performance bond.

And as for the subs.
Doug would pay them direct and receive allowence deductions from the contractor.
But Doug should only do this if he
A) Plans to upgrade from the basics and
B) Prepare to kind of act like a second GC.
If Doug doesn't want to be bothered, do everything thru one contractor so he can be called on the carpet if something isn't right.

[WNYresident]

Think about future cost once you have your addition. How much will it raise your home value up which means your taxes will rise also.

[yaksplat]

Make the second floor 'storage' and then finish it later.

And a single 600 sqft addition will cost more than a 2 story addition of the same square footage. There's nearly double the material in the single floor addition.

[Dougles]

Think about future cost once you have your addition. How much will it raise your home value up which means your taxes will rise also.

That is another big consideration! I bought my first house before we got married, now my wife is starting to understand the role taxes play in buying a house.

[nogods]

Good luck finding a contractor who will order the materials for a $75,000 job with a hundred dollar deposit.
The contracts I've done with NY State have clear payment schedules.
1/3 Deposit.
Another 1/3 at 50% completion.
Balance net 60 days upon completion.
The state will usually require a performance bond.

And as for the subs.
Doug would pay them direct and receive allowence deductions from the contractor.
But Doug should only do this if he
A) Plans to upgrade from the basics and
B) Prepare to kind of act like a second GC.
If Doug doesn't want to be bothered, do everything thru one contractor so he can be called on the carpet if something isn't right.

Again, if the contractor needs financing he should either get it from the bank as a loan, capital contributions from investors, or credit between him and his suppliers. A customer should never give the builder a deposit in excess of a token $100. If the contractor can't find a bank willing to lend him money, or can't find investors, or can't get credit from suppliers (all who stand to profit from the customer) then why in the world would a customer trust the contractor with more than $100?

The contractor gets paid for material when it is on the job site and he gets paid for work done in stages. Doing it any other way is the reason the AG's office is overwhelmed with complaints about contractors.

And in any event, article 3A of the NYS Lien Law requires that the contractor keep the funds received from the customer "in trust" for payment of materials and subs. He can't legally use the money for any other purpose.So the customer might as well put the funds in escrow. Contractors are well known for ignoring the lien law.

Want to make a general contractor stain his pants? Before you pay him the hold back pending final inspection ask to see an accounting of the Article 3A trust with regard to your funds. If he actually can give such an accounting then you know you had a straight up contractor. In most cases though he'll say either it wasn't required (a lie) or give some other excuse.

[WNYresident]

I also plan on never moving. I know plans change, but even if that happens, since I'll be doing a lot of the work on my own I'lll be able to recoup my costs if i need to sell.

That is why as a community we need to get a chain on spending on all levels of our town fiefdoms.

[ILOVEDNY]

Moreover, any deposit you give the contractor is suppose to go into a trust account - not his pocket - good luck finding a contractor with a trust account.

Could you site NY State law that requires this?