I am looking for a rough cost for turning a 1.5 story house into a 2 story house in River Heights in Winnipeg Manitoba. The main floor is roughly 1000 sq feet. I would like 3 bedrooms and 2 bathrooms on the 2nd floor.
If you have a rough idea please let me know as we are trying to factor either an addition or a move.
Good Morning Scott:
Before you decide if you want to do the 2nd floor, take into account two factors: height restrictions in your area, and is the foundation able to carry the extra load. Then there is the $$ return factor and the investment. Take what your home is presently worth, add the addition, get an evaluation on the value in the market at that point, and then sit back and take a look. Quite often if it an older home, the windows will have to be changed to match, and does the siding line up and is it available? By the time that you take all of the factors into account: new roof, possibly siding/ windows, possible wiring upgrade to handle the extra load, heating system requirements, it might be a whole lot cheaper and reasonable to sell your present home and upgrade or get a new one built.
I am presently working on an addition to a bungalow built in 1984. By the time that the addition is done, the roof redone, the siding and windows replaced, painting, carpeting etc, the owner is still left with a 28 year old home. If he had just cleaned up the existing home, sold it, and taken the reno investment, he could have been in a brand new home for virtually the same cost.
Do the math from all angles. Oh yes. Take into account the cost of living out while your reno is being done. Its not just the cost of doing it today. What value are yo left with at the end of the day and is it realistic to go forward.
Best of luck.
Thank you Chuck.
All good things to take into consideration. We'd rather not leave the River Heights and very expensive to purchase something the size we need in the area, There seem to be 3 or 4 houses in the area that are going up a story and/or back.
I guess the best thing is to have someone come out and have a look. The house was built in the 40's so if anyone has experience working on that age of home I'm open to suggestions and ideas.
Chuck is correct there are many factors to consider whether to add on to an existing house or move. There are pros and cons to each option. It is particularly important to get a high level estimate for the additon and then talk to your local realitor in regards to what the value may be with the addition. You will then have some idea as to whether or not there may be a return on your investment.
If you require further information, it would be best to post the project on this site.
Kingsway Construction Inc
We've done several 2nd storey additions to 1.5 storey homes that were built in the early 1950s. The foundations on these are typically solid enough to support a 2nd storey, but you really should have an qualified engineer assess the foundation. There are a lot of factors that will affect the cost of the project.
With a 2nd storey addition, the cost will also significantly be affected by the amount of work you do to the main floor. In our market, you'd be looking at a range of $175 to $300K.
Inspire Homes Inc.
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