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Thread: What does an addition cost?

  1. #1
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    What does an addition cost?

    Does anyone have an idea what a 2 story 25X15 addition would cost? Looking to add master suite and a fam room.
    "I know you guys enjoy reading my stuff because it all makes sense. "

    Dumbest post ever! Thanks for the laugh PO!

  2. #2
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    My guess - $75k. $100/sf.

  3. #3
    Member ILOVEDNY's Avatar
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    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.

  4. #4
    Member nogods's Avatar
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    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.

  5. #5
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    $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.

  6. #6
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    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?
    "I know you guys enjoy reading my stuff because it all makes sense. "

    Dumbest post ever! Thanks for the laugh PO!

  7. #7
    Member ILOVEDNY's Avatar
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    Quote Originally Posted by nogods View Post
    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.
    Last edited by ILOVEDNY; May 2nd, 2012 at 09:32 AM. Reason: Avoiding the Grammer police

  8. #8
    Member ILOVEDNY's Avatar
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    Quote Originally Posted by nogods View Post

    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?

  9. #9
    Tony Fracasso - Admin
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    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.

  10. #10
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    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.

  11. #11
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    Quote Originally Posted by WNYresident View Post
    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.
    "I know you guys enjoy reading my stuff because it all makes sense. "

    Dumbest post ever! Thanks for the laugh PO!

  12. #12
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    Move, and buy a bigger house instead. Seriously, you will never recoup the money. And, what if you do the addition, and wind up wanting to move in five years? You'll be screwed.

  13. #13
    Tony Fracasso - Admin
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    Quote Originally Posted by Dougles View Post
    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.
    You'll be paying for that addition long after you pay the contractor.

  14. #14
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    Quote Originally Posted by therising View Post
    Move, and buy a bigger house instead. Seriously, you will never recoup the money. And, what if you do the addition, and wind up wanting to move in five years? You'll be screwed.
    Well it's not an addition to my current house. We have found a 3bd 1.5 bedroom house (100K) that is in good condition but very well priced. We are looking for a 4bd 2+ bath house, but they seem to be harder to find in the area we are looking and almost all over $190K.

    We are trying to see if it would be cheaper to buy as larger house or buy the smaller hosue and build a customized add on for maybe less.

    And this will be our house for the next 25+ years... unless we hit the lotto.
    "I know you guys enjoy reading my stuff because it all makes sense. "

    Dumbest post ever! Thanks for the laugh PO!

  15. #15
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    Here's my take on that. I plan on building a large addition on my house in about 5 years. With the addition, my house will be the largest in the neighborhood, and I'm fine with that. From an assessment point of view, the other houses in the neighborhood will pull down the value of the house, which i'm also fine with. I'll be acting as contractor and hiring subs as needed, but doing a lot of the work on my own. The addition will cost me nowhere near what it would if I went through a builder and the value of the house wouldn't skyrocket either. I'll be paying less taxes compared to a comparable new build and it will be completely custom. If you've ever looked into building, it's quite difficult to find a lot where you want to live and a custom builder to build exactly what you want.

    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.

    Typically, you only recoup 60% or so on a basic room, where as a kitchen or bathroom addition/remodel will recoup 80-100% on resale. If you do your own work, these numbers are >100%.

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