How Much Does a Second Story Addition Cost?
When you’re looking for additional living space and the option of moving to a bigger home isn’t in the cards you can always consider a second story addition. Here in Toronto, the ever increasing real estate prices makes adding a second story home addition an attractive option compared to buying a bigger home.
Adding a second story addition to your home enables many homeowners to nearly double their existing living area at a more affordable price than buying a new home. It is a complex project though and will add weight to your original home, so you need to make sure your structure can support an additional story before getting ahead of yourself on the project. You’ll then need to come up with some detailed plans for the addition.
Estimating the Cost
It’s essential to obtain accurate cost estimates to budget effectively for your second-floor addition project. While every project is unique, and costs can vary significantly, we can provide you with a rough estimate to give you an idea of the financial commitment involved. Keep in mind that this estimate is based on industry averages and may not reflect your specific requirements.
1. Construction Costs
On average, construction costs for a second-floor addition can range from $350 to $400+ per square-foot. However, this figure can fluctuate depending on the factors mentioned earlier. To estimate the cost, multiply the square footage of the addition by the average cost per square foot.
2. Design and Architectural Fees
Hiring a Design-Build firm is crucial for a well-executed second-floor addition. Design and architectural fees typically range from $10 to 20k for a full renovation and addition which tend to be in the 3-5% range of total project budget. This percentage may vary based on the complexity and scope of the project.
3. Permitting and Inspection Fees
Permitting and inspection fees are essential considerations in any construction project. These costs can vary depending on your location and the specific requirements of your municipality. Contact your local building department to obtain accurate information on the fees associated with your second-floor addition.
4. Additional Expenses
It’s essential to account for miscellaneous expenses that may arise during the project. These can include demolition costs (if necessary), waste removal fees, temporary accommodations, and unforeseen repairs or modifications. Allocating a contingency budget of around 10% of the total project cost is a prudent approach.
Second Story Addition Costs
The cost of a second story addition will obviously depend on the location and size of your home and how much square footage you’ll be adding. Each home is unique, but in general, a full second story addition to a typical Toronto 800-1000sqft bungalow will start in the $300,000 range. Our most popular addition for older semi-detached homes is the rear main floor family room/kitchen with a 2nd floor Master bedroom and ensuite. These additions are usually in the 4-500 square-feet range in size, and would cost approximately $250,000 to $350,000 depending on the scope of work and big ticket items such as kitchens/bathrooms. If you’d like to add a new two car garage of 20 by 22 feet with a finished dry walled interior you should expect to pay between $80,000 and $100,000. Laneway and coach houses are a very hot topic now and vary tremendously, but expect that they would start in the $350,000 and up range.
It’s interesting to note that adding a second story may in some cases cost more per square foot than it will to add additional living space on your ground floor. This is due to potentially having to replace major items such as the roof, electrical, plumbing, heating and air conditioning systems etc. and a set or two of stairs. And don’t forget the rearranging of the existing living space on the main floor will inevitably require attention as you may have added the bedrooms upstairs and now want a gorgeous great room, or that larger kitchen you have always dreamed of. The cost will also depend on what exactly you plan on including on the upper floor. For example, a laundry and bathroom will be a bit more work and money than just adding a couple of bedrooms.
Additional Costs For Adding a Second Story
Also, you’ll need to budget for building permit fees, design and architectural fees, project financing and interest, insurance premiums, and possible landscaping. In general, our design and planning fees will be approximately $10,000 to $15,000 and since your home is now worth more after the second story addition your insurance premiums and property taxes may rise to reflect it. The exact percentage of property tax and insurance increases will depend on the new value of your home. As for the landscaping, you may need to remove or replace items such as shrubs, bushes, trees and/or flower beds etc, after the work has been completed.
Factors Affecting the Cost of a Second-Floor Addition
Several factors come into play when determining the cost of a second-floor addition. It’s essential to have a clear understanding of these factors to estimate the expenses accurately. Here are the key elements that influence the overall cost:
1. Size and Complexity of the Addition
The size and complexity of the second-floor addition are significant determinants of the cost. A larger addition will require more materials and labor, which naturally leads to higher expenses. Additionally, if your project involves intricate architectural designs, custom features, or unique structural modifications, it can impact the overall cost.
2. Structural Considerations
Before embarking on a second-floor addition, it’s crucial to assess the existing structure of your home. Strengthening the foundation, reinforcing walls, and ensuring structural integrity are vital for a successful and safe addition. The need for structural modifications can add to the overall cost, especially if extensive work is required.
3. Material Selection
The materials you choose for your second-floor addition play a significant role in determining the cost. High-quality materials often come at a premium price, but they offer durability and aesthetic appeal. Depending on your preferences and budget, you can select from a range of options, including different flooring materials, windows, doors, roofing, and finishes.
4. Electrical and Plumbing Considerations
Integrating electrical and plumbing systems into your second-floor addition requires careful planning and professional expertise. Extending these utilities to the new space can increase the overall cost. The complexity of the electrical and plumbing work, such as wiring, outlets, fixtures, and connections, will impact the expenses involved.
Hire a Professional Home Addition Contractor
Adding a second story isn’t a do-it-yourself project since you’ll need to work hand in hand with a contractor with experience creating second story additions as structural work will need to be carried out and the existing mechanical systems will need to be worked on. There are other costs involved with a second story addition that aren’t exactly hidden, but many homeowners often forget about them when budgeting for their project. For instance, when looking for a contractor you should ask for a fixed-price deal just in case the cost of building materials and supplies such as lumber, concrete and shingles fluctuates during the job.
For more information on second story additions, other home remodeling and renovation projects in the Greater Toronto Area, Contact us at Novacon Construction to schedule a free consultation.
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