Adding the 2nd Floor

Renovations. Remodeling. Home Improvement.

This can be anything from a new front door to an entirely renovated kitchen. But what about the addition of a second floor?

For many homeowners living in single-storey homes, the idea of expansion may only be possible by building up. Especially in quickly-growing cities or in already established neighborhoods, up is the only option.

 

The rationale

A growing family, the need for more space, or even increasing the value of the home. All excellent reasons to expand. There are a few facts to take into consideration before shooting for the stars.

 

Getting down to brass tax

Any renovation or remodeling project involves cost. And first and foremost, calculating the approximate cost of the project. That includes the materials, labor, design, furnishings… Not to mention heating and cooling.

The actual cost of renovation depends on the area you are living in, the average cost of labor, and the size of the renovation you are planning. Adding one bedroom and a bathroom is going to cost much less than adding four bedrooms, two bathrooms, and a shared living space.

But you do not need to let this deter you from an addition to your home. Like most everything, you can take a project like this on in stages. Start by having your foundation inspected to ensure you are actually able to build up. Then begin laying the “groundwork” for your second floor. It can be as simple as the base structure, as well as the roof (to guarantee you are actually able to continue living in your home throughout the entire process).

 

Not the shortest undertaking

It is safe to plan on spending quite a bit of time on this project. At the very least, the project will take anywhere from 4 to 6 months. And that is if you are jumping in full-force. For many people, this project can take a bit longer, depending on how much you are able to spend month-to-month.

While, realistically, you can start the project while still living in the home, especially if you are working on a slightly tighter budget, it is safe to plan on finding another place to stay for the duration of the remodel. Especially when there will be contractors in and out of your home on a daily basis building an additional floor, there is great reason to find a place to rent short-term (or find family you can handle living with for a few months).

Benefit, benefit… And more benefit

While it may be expensive (and a bit time consuming), the addition of a second floor could, possibly, be the perfect addition to your life and, of course, your home.

The addition of another storey will definitely increase the value of your home. Extra bedrooms, bathrooms, and additional living space will definitely make your home more attractive to potential buyers. So whether you are planning on selling now or later, an addition of this magnitude will increase your home’s value significantly.

Have you ever said NO to extra space? More living space just for you. An additional bedroom for friends and family. Extra space for your growing family. Increased area for pets to roam and play. Whatever the reason, if you want a larger space and this is the road you are planning on taking, building up is well worth it.

 

Final tidbits for thought

It is important to come to the table prepared. Write down a list of questions you have and actually ask them. The last thing you need is to refrain from asking a question and end up regretting it later.

Lay out your budget. Have you ever planned a party without a definitive budget? And, did you go over that budget? When you don’t have a set plan for exactly how much you are able to spend, you are more likely to overextend yourself. Besides, if you have a perfect plan for how you are allocating your funds, it will make the entire process much less stressful.

Finally, you just need to pick a contractor. Ask around, do your research online. Essentially, do your research. Take your time to find someone who is best suited for your project and your needs. Just like when you are picking a mortgage lender, hand-picking the best contractor is well worth your time.

Maybe you choose to renovate. Or maybe you don’t. Either way, it is essential to weigh both the pros and the cons before you make a final decision.

 

 

Total Home Lending

 

 

Natasha Mason

 

2018-03-16T14:48:06+00:00