A Second Storey Addition Cost?

If you need more room but can’t afford to move to a larger house, a second-story extension is always an option. With Toronto’s skyrocketing property values, a second-storey addition is a more cost-effective way to expand living space than purchasing a larger home.

Many homeowners can practically double their living space by adding a second storey to their home, and the cost is much lower than moving. However, this is a sophisticated job that would add weight to your existing home, so you should check that it can handle the load first. In the next step, you’ll need to draw up comprehensive blueprints for the extension.

Second Storey Addition Costs

Adding a second story to your home will increase its value, but the price tag may vary depending on factors like the square footage you’re adding and the location. A second-storey addition to a standard Toronto house (800 to 1,000 square feet) will cost in the $225,000 area. For older semi-detached homes, our most requested extension is a rear main-floor family room/kitchen with a second-floor Master bedroom and ensuite. Depending on the extent of the work and high-priced features like new kitchens and baths, a 4- to 500-square-foot addition may cost anywhere from $180,000 to $250,000. A new two-car garage measuring 20 by 22 feet with a full, dry-walled interior can cost anywhere from $80,000 to $100,000 to build. The cost of laneway homes and coach houses, which are now trending topics but can range widely, would likely begin in the high two-hundred thousand dollar level.

It’s worth noting that the cost per square foot to build a second story may be more than the cost to add a room on the first floor. This is because key components like the roof, wiring, plumbing, HVAC, and even a flight or two of stairs may need to be replaced. Even if you add bedrooms to the second story, you may decide that you’d rather have a spacious kitchen or a grand living room on the main floor. What you want to include in the second story will also affect the price. Adding a laundry room and bathroom, for instance, will need more time and resources than simply building two new bedrooms.

Hire a Professional Contractor

Doing it yourself is not an option when adding a second story, as structural work must be done and the existing mechanical systems must be worked on. Instead, you should collaborate with a contractor who has experience making second-storey additions. While the additional expenses associated with building a second storey aren’t exactly secret, they are often overlooked by homeowners. For instance, if you’re hiring a contractor, it’s a good idea to negotiate a fixed fee in case the price of lumber, concrete, or shingles goes up or down during the course of the project.

Additional Costs For Adding a Second Story

The cost of a building permit, the cost of a design and architectural plan, the cost of financing and interest on the project, the cost of insurance, and the cost of any potential landscaping will all need to be factored in. Our design and planning expenses will be in the range of $10,000 to $15,000, and your house insurance and property taxes may go up to reflect the increased value. Your home’s new market value will determine how much your insurance and property taxes will rise. Depending on the extent of the damage to the landscape, you may need to remove or replace things like shrubs, bushes, trees, flower beds, etc.

If you live in the Greater Toronto Area and are interested in learning more about second-story additions or any of our other home remodeling and renovation services, please contact us at Fiable Consulting now.