Top 20 Home Addition Costs and ROI 2017-2018

When you’re planning an addition or a major home improvement upgrade, there are so many options and things to take into account that it can get a little overwhelming. 😉

The nature of the home remodeling project itself, the materials you need, the cost of contractors to hire, building permits, whether or not there is a justifiable return on your home improvement investment, e.t.c. -– all of these are important factors to consider when planning your project.

Basic Costs of Hiring a Home Improvement Pro to Keep in Mind

When it comes to costing for your project, keep in mind that on average, you can expect to pay $50 to $100 per hour for an electrician, $20 to $35 per hour for painters and around $70 to $80 an hour for a good carpenter.

We have factored these average prices into our costing. Also note that the prices we mention are on average across the US, however costs may vary depending on where you are building. For example, coastal regions and major cities are likely to cost more than country towns.

Top 20 Major Home Addition Projects to Help You Visualize your own Home Remodeling Journey

  1. BUILDING A GARAGE

When it comes to building a garage, you should start by determining your budget, and then decide on the inclusions you want.

You have two main options to choose from for the design – you can have a detached garage which stands on its own, away from the house, where you could also consider a second level for living, workshop or storage space; or attached so it sits on the side of your home and is generally more affordable.

Whatever design you choose, you need to take into account the following to get an accurate quote: the size you want (double, single, three-car, compact, storage space); what materials it will be built from (for the walls – drywall, metal panels, plastic, cement; for the roof – gypsum, styrofoam, cork, tiles); windows and the type of door you want.

Detached: You’re going to pay more from the outset for detached, which you might put behind the house if there isn’t space to build next to it.

Cost: You’re looking at paying around $15,000 to $20,000 including labor and materials, but you can expect to pay more if you’re including plumbing, electrical lines or HVAC; and add another $5,000 to include a second level. Cost per square foot: $30-$40.

Attached: The less expensive of the two, attached garages connect to your home; saving you money immediately by utilizing one wall you have already in place. That means you’re only building three walls instead of four, and being next to the house, you can take advantage of close proximity to your home’s electricity and plumbing to save on installation fees.

via Atec Builders

Cost: For a single garage, expect to pay between $10,000 and $12,500; while a double garage will be in the vicinity of $30,000. This includes materials and labor costs. Cost per square foot: $40.

ROI: Best return on investment is for detached, which allow for added living space above the garage itself. You could include a small bathroom and kitchenette, then rent that space out to achieve 100% returns (and more).

  1. SUNROOM

Via Patio Enclosures

There is nothing quite like soaking up the morning or afternoon sunshine in your own sunroom and if you have the opportunity to include this as an addition to your home, we highly recommend it. With walls of glass that invite the sunlight in, you’ll be protected from the elements as you enjoy basking in the sunshine all year round.

Sunrooms are affordable and popular, and are generally made from vinyl or aluminum. You can save money by skipping heating and using the room only through the warmer months (or only when the sun is shining directly on the room during winter).

Cost: The average cost of a sunroom addition depends on the size and features you want to include. Generally you’ll pay anywhere from $20,000 up to $75,000, including labor costs for painters, carpenters and electricians.  Average cost per square foot: $350 – $380.

ROI: Adding a sunroom will increase your home’s general value, so if you’re planning on selling any time soon, you should see a 50% return on the money you spend.

  1. CLOSET OR WARDROBE

Reach in closets or walk in closets and wardrobes will help you to keep your sanity in a space that can quickly get messy. Having the freedom to arrange your clothes in open space, without having everything thrown in drawers that are hard to maintain; not to mention the added storage space you’ll gain, makes getting a closet or wardrobe well worth your while.

If you have smaller space to work with and less to store, a closet is the ideal choice. You can choose from a walk-in or a reach-in, depending on how much space you have to work with. If you’re getting one closet or wardrobe, why not buy in bulk – getting all the bedrooms fitted. You’ll save money – and get a greater return in the long run.

Cost: You’ll spend an average of around $1,500 to $2,000 for a simple walk-in closet of around 6.5 foot wide, and between $1,000 and $2,500 for a reach in closet or around $2,500 for a wardrobe. This price will increase if you need extra walls built. Average cost per square foot: $10 – $15.

ROI: 100%. Pay $2,000 for a closet, and if you sell your home, you can easily ask an extra $2,000 to the total price.

  1. ADDITIONAL BEDROOM

via Simply Additions

The family is expanding and you’re running out of space, but rather than move to a bigger house in a different suburb, consider adding another bedroom to your home. It’s easier than you think. Choose to build out, adding the room on the side of the home, or up, adding a second level; with the first option much more affordable and more practical in many circumstances.

Building up could include a single room, or an entire floor, and in either option the price will increase.

Cost: Bedrooms generally don’t need a whole lot of hidden extras, so you can expect to pay between $150 and $250 per square foot, inclusive of labor costs, if you choose to build on the side of the home.

ROI: Building out will add immediate value to your home by extending the building’s perimeter, though it will decrease the amount of yard space. If you’re selling, expect a positive ROI of around 50%.

  1. DORMER

via Slope Side ICF

Many dormers are there for show. They make homes look more appealing to anyone who might be walking past, or considering buying, or they could be more practical in that they provide you the added benefit of more space in your attic.

Adding a dormer to your attic, or including a shed dormer at the back of the home, could help turn it into a more livable space and more flexibility.

Cost: Dormers aren’t cheap. They will cost anywhere from $10,000 to $25,000 (or more) to have installed, depending on size, location on your home and materials required. Average cost per square foot: $80 – $120.

ROI: Added space, more light and better looking style of home are all added benefits if you decide to sell. We’d say you will get around 40% returns financially, but the benefits of the added light will also save on electrical bills, so add another 20%+ over 10 years.

  1. OUTDOOR KITCHEN

via Fireside Outdoor Kitchens

Enjoy summer with all the benefits of an outdoor kitchen, great for entertaining friends and family, or just for yourself. When considering this as an addition on the home, you need to take into account several factors.

The most important is the grill – what type, size, style grill do you want or need to be able to feed all those hungry mouths? Do you want gas, electric or open flame (such as a fire pit)?

Next you need to choose your other features – tile or stainless steel countertops are the most popular, and most resilient choices; cupboard space might be required; and you could need a fridge.

What about a sink? Or are you close enough to the actual kitchen that you can get away with taking a few simple steps from outdoors to indoors? These are just a few of the things to consider.

Cost: Around $5,000 for something basic; up to $150,000 for extravagance. Average cost per square foot: $25 – $70 depending on materials.

ROI: Lapping up a life of luxury, enjoying the sunshine and basking in the glory of your amazing cooking, we’d give this return 100% when it comes to enjoyment.

For financial gain if you decide to sell, you could get a 100%-200% return if you live in a nice, sunshine-filled area where the new owners will benefit greatly from being able to entertain outdoors.

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Vinyl Siding Cost, Pros & Cons, and ROI in 2017-2018

PVC is widely understood as a heavy duty plastic-based material. The “V” in the middle of the acronym stands for Vinyl, which in the home siding market, represents the #1 selling material for most of the US. The PVC used for siding benefits from additives that resist color fading, and increase flexibility while not sacrificing durability.

For residential siding, vinyl is quite versatile. The horizontal plank (bevel) style is the most common cladding option for vinyl, but there are many more ways it is utilized as a cladding material for homes and buildings. On the east coast, its primary competition comes from wood and fiber cement, while stucco dominates the western part of the US.

Cost

Because R-Value is a key factor when considering any siding material, it is important to note that vinyl siding takes this into consideration and that this skews its pricing data.

Generally, costs for vinyl are based on material thickness, with most residential products ranging from .040 to .046 inches thick, or about 1/16th of an inch. At that level of thickness, the R-value is unsurprisingly low.

However, vinyl comes in one of two primary variations: hollow-back and insulated, or foam-back. The foam-back provides at least 3 times (or more) the R-value, while increasing the cost by at most 3 times, or usually doubling it.

In terms of costs, Vinyl siding averages between $3.00 and $8.50 per sq. ft. installed. This breaks down to $3.00 to $5.00 on average per sq. ft. for hollow-back and $5.00 to $8.50 per sq. ft. for foam-back and/or deluxe vinyl siding.

On average, hollow-back vinyl siding installation results in a $7,000 to $12,000 overall cost for a typical two bedroom sized home in America. Foam back averages $13,000 to $20,000 for the same property.

While “average” is a bit vague, we’ll break the costs down further (next section) and explain the factors that impact costs (2 sections below).

Costing Info – Part 2

As noted above, usually when you select vinyl siding for your home, you are selecting thickness and whether it is insulated material or not. These aren’t your only options, but they contribute to the costs more than other options.

The style type is another key factor – whether panels are vertical or horizontal and whether making use of shingle or split-log style. Often the nuances within a particular style type, along with contractor experience and product quality are the additional primary factors that impact costs.

To hopefully simplify things, let’s go with 2 examples of horizontal panels and what a job may entail to help understand the costing information more in depth:

Hollow-back Vinyl Siding: 1,900 sq. ft. x $2.75 = $5,225 (includes primary material/labor)
Housewrap: $200
Color Matching Existing Exterior Features: (i.e. outlet covers, wall vents, etc.) = $250
Updated Window Trim (Vinyl): $3,250
Additional Building Materials: (i.e. J-Channels, corner pieces) = $125
Nails: $55
(Optional) Detached Garage Update: (with all the above material considerations) x  700 sq.ft = additional $2,700
Building Permit: $250

Continue reading “Vinyl Siding Cost, Pros & Cons, and ROI in 2017-2018”

Kitchen Remodel Cost – How Much to Remodel a Kitchen in 2017

Your kitchen is undoubtedly the heart of your home, or in more modern terms, the core of your family’s command center! 😉

amazing-yet-modest-kitchen

Whether your goal is to increase the value of your house or you’re simply wanting to make it a more enjoyable place to live, choosing to do a remodel or renovation is one of the best decisions homeowners can make. Breathing new life into an outdated kitchen adds value to a home in numerous ways.

Our pricing guide will break down the steps to planning your renovation and provide a breakdown of expected costs for the following:

  • Basic Kitchen Remodel
  • Mid-Range Kitchen Remodel
  • Deluxe Kitchen Remodel

Make a Plan

To get the most bang for your buck it’s important to set a budget from the start, know your needs and understand where the money will go. Before shopping for appliances, tile or flooring, know your personal needs and goals for the outcome of the remodel. Then you can create a wish list of desired components and begin your search for a contractor.

Recommended Budget

The National Kitchen and Bath Association (NKBA) has a recommendation for the value of a kitchen remodel to help homeowners set an appropriate budget. As you create your budget, there’s more to consider than the amount of money you can afford to spend. Essentially, putting too much into a home improvement project can affect the rate of return on your investment.

The NKBA recommends budgeting 15-20% of the value of your home.

For example:

$250,000 home = $37,000-$50,000 kitchen remodel budget

$500,000 home = $75,000-$100,000 kitchen remodel budget

Once your budget has been determined, cut it by at least 25 percent. Set the extra money aside as a cushion to make unexpected surprises much less stressful.

Cost Breakdown

The NKBA’s guide for an average kitchen remodel is as follows:

  • Cabinetry and Hardware: 29%
  • Installation: 17%
  • Appliances and Ventilation: 14%
  • Countertops: 10%
  • Flooring: 7%
  • Lighting: 5%
  • Walls and Ceilings: 5%
  • Design Fees: 4%
  • Doors and Windows: 4%
  • Faucets and Plumbing: 4%
  • Other: 1%

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