Is it Cheaper to Build a Second Story Or a Basement?
It’s time to upgrade your home, but you have a big decision to make: should you build a second story or a basement? These are both intensive projects, so you want to choose the one that’s right for your family and your budget.
Cost Helper estimates that a professional can add a second story for between $100 and $300 per square foot. These costs are based on the amount of space you’re adding and the quality of materials you choose. If you add a high-end addition, these costs could be higher.
Bride says that he has seen a lot of homeowners decide to build a second story rather than a basement. This is usually because of a desire to have more space or because they’re concerned about the resale value of their home.
Building a second story is usually more expensive than a basement because it requires that the home’s roof be removed and replaced, plus additional support structures need to be built to ensure the new structure is connected to the first floor.
You will also need to have the foundation of your house inspected before beginning any work. This inspection will let you know how deep your footings need to be, and whether they’ll be able to withstand the weight of the new structure.
Some types of soil can only stand up to certain amounts of weight, so it’s important that your home’s foundation is strong enough before beginning construction. Getting this done right the first time can save you time and money down the road.
Depending on your local building codes, it may be possible to add a second story to your home without requiring any excavation or removing the existing foundation. However, this will vary by city and county, so it’s best to speak with a contractor who can advise you on the specifics of your project.
It takes between 6 and 9 months to complete a full second story addition, and a partial one may take as long as 3-5 months. A good contractor will have a schedule that he or she can stick to and will have an understanding of the logistics involved in completing a project like this.
The location of the project and the condition of the first floor will also affect how long it will take to complete. You’ll likely be uninhabitable for the duration of the construction, so it’s important to factor in the costs of renting alternative accommodations into your calculation.
Most people choose to live elsewhere during the renovation process, so it’s important to be aware of the cost of living in another place and how much upheaval it will be. If you’re willing to move during the construction, this can help lower your overall costs and inconvenience.
Adding a second story to your home can be an exciting way to expand your living space and increase the value of your home. Regardless of the decision you make, it’s a good idea to have your home inspected by a licensed engineer to be sure that the structure can support it safely.
