According to recent estimates, two-thirds of Canadian homeowners—about 66%—have completed a home renovation project in the last two years. Many of these home renovations have included Calgary custom home additions.
Adding an addition to a house in Calgary has many benefits and a few considerations. Cost is often the biggest factor to consider. So, people thinking about addition renovations often ask themselves many questions. Questions like: How much does an addition cost—before they consider whether it is worth pursuing? This is understandable. The current economy and the housing crisis affecting millions of people in Canada make these questions necessary.
So, to help you decide if adding an addition to a house in Calgary is worth it, we've provided a cost breakdown in this blog. When it comes to Calgary home renovation companies, Kavaleer is one of the best in the region. That's why our building and remodel experts have shared their pricing knowledge. Continue reading to learn more!
What Are The Costs Associated With Addition Renovations In Calgary?
So, what are Calgary home extension costs? This is a difficult question to answer. The costs of addition renovations in Calgary can vary. Usually, they vary based on everything from the type of addition to the materials and labour hours needed.
Yet, the average cost for a room addition renovation ranges from about $225 to $450 per square foot. Costs can increase significantly with the addition of cabinetry, kitchens, or bathrooms.
For an addition up to approximately 400 square feet, here are the typical costs broken down:
- Pre-construction costs: $10,000 to $17,000
- Foundation: $10,000 to $27,000 (depending on building method and materials)
- Framing: $15,000 to $38,000
- Roofing/Siding/Exterior work/Windows and Doors: $18,000 to $35,000
- Electrical/HVAC/Plumbing: $8,000 to $20,000
- Insulation/Drywall: $12,000 to $18,000 (depending on insulation method and drywall finish)
- Flooring/Finish Carpentry/Paint/Wall coverings: $15,000 to $25,00
These are only rough estimates. You'll need to speak with a reputable renovation company like Kavaleer to learn the costs of your addition renovation needs.
When Are Addition Renovation Costs In Calgary More?
As you now know, there is no blanket cost for addiction renovations. Sometimes, these costs can be more than you think, and you must be prepared for this.
Adding a second-story addition to a home can often be more expensive. While a second-story addition does not need a new foundation, it must integrate with the existing roofing. It also must connect to the main level's mechanical, electrical, and plumbing systems, which can be costly.
The home's foundation often also needs to be assessed to ensure it can support the new addition.
You should also note that a Calgary whole-home renovation with an addition can have very different pricing. It will likely cost more than a standard addition renovation project.
That's why it's best to speak with home renovation contractors in Calgary, like Kavaleer. They can help you determine the estimated costs of your addition renovation so that you can plan your budget accordingly.
Is Adding An Addition A Good Investment?
When you look into Calgary home extension costs and see the true pricing behind what home renovation companies charge, you might wonder if it's a good investment. The answer to this thought is a resounding yes. Addition renovations are a good investment for two reasons. Let's discuss these reasons below:
Financially Beneficial
Addition renovations are a financially sound decision. Home addition renovations with a trusted Calgary home renovation company guarantee a positive return on investment.
A home addition's value can add between 50% and 60% of its total cost back to the value of your home. In monetary terms, this means that a $300,000 renovation addition can, over time, increase the value of your residential property by about $180,000.
Hypothetically, if the value of your home increases at a rate of about 7% annually, your renovation addition will also grow by around this rate. This is thanks to a compounding effect. This means that your renovation addition can grow in value over a few years and with continued home maintenance.
It will eventually pay for itself and earn you a profit should you ever decide to sell. So, everything from a sunroom addition in Calgary to a second-story addition in Calgary will add value to your home, making it a good investment.
Better Quality of Life
Beyond the financial gains, pursuing your home addition plans in Calgary also enhances the experience of living in your home.
Addition renovations provide long-term benefits to your daily life. Whether expanding your home to grow a family, having parents live with you, or creating a safe space to age in place, an addition makes life better.
Essentially, a home addition renovation can create extra space for your needs. This will make it easier to enjoy living in your home more, which is a bigger benefit than financial gains for some.
Financial Pitfalls That Can Affect Addition Renovations
When undertaking an addition renovation in Calgary, it's natural that you want to avoid financial pitfalls.
Unfortunately, many homeowners face tough decisions, and the wrong choice can lead to financial losses. These losses can cause a ripple effect. They can negatively impact your renovation budget and lengthen the project timeline.
Let's have a look below at how to avoid financially straining your budget:
Take Planning Seriously
Many homeowners don't take the planning stages as seriously as they should, which can cause problems with budgeting down the line. It's crucial to complete full project planning to avoid financial mishaps. You must do this before starting your home addition renovation.
During planning, you must include all decisions and selections to ensure they are fully reflected in the budget. Proper planning allows design and budget to coexist. This streamlines both the planning process and the actual building time.
Choose The Right Contractor
It might be hard to believe, but choosing the right builder can make or break your budget. Inexperienced contractors or those who want to rush through a job to get their money are no good. They will leave you with incomplete additions or shoddy work that you need to have fixed sooner rather than later.
That's why working with a contractor who either provides design and engineering services like Kavaleer or can offer preliminary pricing is your best bet. With them, you can avoid financial pitfalls. A reliable contractor will even develop plans to help you stay on budget.
Don't Fall For Basic Quotes
A big financial mistake homeowners make is accepting basic quotes from contractors, thinking it is a deal. You must avoid contractors who only provide a basic "quote." These quotes often don't consider utilities, required finishes, and framing details.
These quotes that disregard these build elements often result in inaccurate pricing estimates. They only consider the minimum amount you might need to spend. They can even have hidden costs, making the final project cost exceed the initial estimate, causing havoc on your budget.
The main point here is: if you're just asking for a quote, that's all you're going to get. The value of partnering with a building professional and taking planning seriously can't be ignored.
Speak With A Renovations Expert At Kavaleer Today About Your Addition Renovation Goals
Now you know more about Calgary home extension costs. You also know what to expect when undertaking a home addition renovation. Since costs vary, speak with Calgary home renovation companies like Kavaleer. They can help you determine how much your addition renovation will cost.
We've been helping homeowners achieve their home expansion dreams for years, and we're eager to help you from start to finish. Contact us here and let our experts arrange a consultation. Then, we can discuss your exact needs and wants and see what we can make happen!
