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Adding either a second floor or addition

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Posted by: from Brantford
4/11/2017 at 10:48:31 PM

I have an early 80's bungalow that backs onto beautiful protected greenspace and trying to decide which option will be the best for both enjoyment of the scenery and financial investment.

Option A is approximately 1000 sqft addition(main & basement) that would square up my L shaped existing structure.

Option B second floor addition approximately 2000 sqft.

REPLIES (3)
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Date/Time4/12/2017 at 11:11:48 AM

Hi Tim,

It depends on a number of variables; end goal, need vs. necessity, geographic, city allowances, finances, neighborhood conformity, street scape, finished valuations etc.

In this market, adding value by renovations/remodeling is adding huge equity into your lifes biggest investment; your home.

Good luck!

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Date/Time4/12/2017 at 12:18:08 PM

Hi Tim,

Will this be your forever home? How much do you have budgeted? Be prepared to spend roughly $200-$250 a sq/ft for the addition.

Please feel free to contact us for any questions.

Kind Regards,

Scott Lawson

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Date/Time4/12/2017 at 10:58:38 PM

Adding a living space up is cheaper in comparison with building aside if no foundation reinforcement work will be involved. Normally prices start from $250 per square foot and might go up to $500 / ft2. Cost of man power and materials expenses combined might bring the total expenditures for building a second or upper floor up to $550,000 for 1,000 square feet living area.

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