The Cost of Home Expansion

13 Sep

As your family grows bigger, one of the things that starts coming to mind is the limited space of your current home. Is the space big enough for your growing children? Will there be an extra bedroom for when one of your children needs his or her own space? Are the living room and dining room big enough to accommodate all of you?

These kinds of situations make a homeowner wonder, “Should I extend my home?”

Home extensions are a way to add on to your existing home and create more space without having to move. You can either extend your house to the sides by adding more space or build vertically to turn a one-story home into two two-stories.

Creating a home extension project is like building a new house. You need to create very specific architectural plans, especially if you will be adding an additional full story on the next floor. You will also need to carefully budget, so your expenses do not spiral out of control as the project proceeds.

There are several factors that affect the cost of your home extension. First is the size of your extension. The bigger the project, the more costly it gets because it will require more materials and more labor.  In addition, how your planned extension affects the flow of your existing home will also affect the cost of the project. Will you be rearranging your current interior to accommodate the extension or is the current layout already fine? Will you need to remove a wall or a door to make way for the added space? If so, these require more materials, more planning, and more time.

The location of your new extension can also significantly dictate the overall cost. For instance, extending a full second storey for your house will mean detaching the roof, adding stairs, and providing materials for what, in many ways, will be the equivalent of building a house. On the other hand, turning a porch into an additional room or extending a certain wing of the house will be a simpler, more straightforward project.

When it comes to expanding your living space, it is important to carefully weigh the pros and cons of staying in your house and renovating it versus moving.  Evaluate the needs of your family so you can identify the most efficient solution that will maximize your overall investment.

Jennifer Fields
Oklahoma City & Edmond Real Estate Agent


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