Room additions are the best way to make additional living areas that are uniquely your own custom design.
It’s important to note that you won’t get a dollar-for-dollar payback immediately. Investments take time to build up, that’s unfortunately how they work. The good news, however, is that they do so quickly.
We have come up with 12 room additions that will provide you with more usable space and a solid return on investment.
In this article, we are going to provide information on 3 main topics.
1. A general overview and insight into the room additions.
2. Cost Overview of each project.
3. Finally the ROI (return on investment)
1. Adding a Second Story Addition to Your House
A second story added to your house is honestly one of the biggest projects you can choose to do. Depending on the size of your home, this addition can add a lot of square footage and value to your home. To make sure your home’s structure and foundation can handle a two-story home, we highly recommend all of our customers doing a second story to work with an architect.
How much does it cost to add a second story to a house in the Dallas area?
The cost breakdown for a second-story addition in Dallas is $150,000-$250,000 based on 1,000 square feet. If your area is bigger or smaller you can also estimate $150-$250 per square foot.
What is the ROI of adding a second story to your home?
The average ROI for adding a second story to your home in the Dallas area is between 50-60%. So using the estimated costs above you are looking at a $75,000-$150,000 increase in appraisal value for adding a second story to your home. National averages tend to be slightly higher than the Dallas market. Fixr and Home Guide have put together some national averages for adding a second story to a home.
→Discover More Information About A Second Story Addition←
2. Finish the Attic
This project is perfect if you have a limited living area on your main floor. It will allow you to create more usability while still maintaining privacy. Attics are often overlooked when it comes to adding value to the home. But if done right, they can be great additions that increase the average space in the home while also increasing its resale value. Design process and design decisions are important to make sure everything you want will fit in the space you have available.
What are the project costs to finish out an attic in a Dallas metroplex home?
The estimated price per square foot to finish out an unfinished attic in a Dallas area home ranges from $82 to $112 sqft. A good contractor like us at BIL Specialties will help you make sure all of the requirements are met for the attic conversion. This will ensure all added sqft will count towards the appraisal value. A couple of examples are a stairway must be connected to the space. Also, at least half of the ceiling must be 7 feet.
What kind of ROI should you expect when you convert an attic?
An attic remodel can be quite profitable, but it depends on how you use it. On average you can expect a 50% to 75% increase in the appraised value of your home. Adding an extra bedroom and bathroom tends to have the highest return on investment. However, if it does not meet requirements to count as “living space,” it may not add much value.
→Discover More Information About Converting Attic To Living Space←
3. Converting a Garage into a Living Space
Thinking about converting your garages into a living space? This is a great option for those who don’t want to add to their homes but need the extra room. If you want to turn it into a home office, living room, game room, guest bedroom, or even a master suite, it can be done. There are a couple of drawbacks to garage conversions. The main drawback is blending the conversion with the rest of the house can be difficult. Plumbing, insulation, and other exterior materials are typically not in place. so they need to be installed.
What is the average cost to convert a garage into a functional room?
To convert a garage into a functional room has a big price range. This is all based on what type of room addition you are wanting to convert your garage too. It can be as low as $5,000 for a minimal conversion or as high as $40,000 for an apartment-style conversion. For a garage conversion, we highly recommend you get in contact with us or a reputable general contractor to go over your ideas.
What kind of ROI does converting a garage have?
Done right, well-converted garages give you up to 80% ROI. It defiantly can be a worthwhile financial investment to increase the value of your home. Remember the craftsmanship and quality of the work matter, especially if you‘re planning on major changes.
→Check Out 8 Important Garage Conversion Things to Consider←
4. Creating a Mother-In-Law or Apartment Suite
In-law suites or apartment is a great addition to provide for the elderly or people in your life needing their own privacy. When adding a suite it’s important to have at least a full bathroom and a door that will allow for privacy. Before beginning your project, you will want to make sure you aren’t crossing any property lines. We recommend working with design consultants to make sure all requirements are met. You will also get architectural designs so the suite is built correctly. (if you need a design firm we can get you in contact with one)
Your budget expectations when adding a mother-in-law/apartment suite?
An in-law or apartment suite can range from $40,000 to $125,000. The price varies based on what you are thinking about doing. Are you thinking about converting a detached structure or attic? Are you interested in adding an addition to your house or building a completely separate structure on your property? Whatever you are thinking a breakdown of costs of a monther-in-law site will save your family money in the long run, even though it sounds intimidating at first.
How much value does an in-law/apartment suite add to a house?
A Mother-In-Law or Apartment Suite can increase the square footage of your home and give you up to 80% return on investment. If livable space is in demand, this project can definitely be worth the time and money. If your goal is to create an apartment-type rental property your ROI could potentially be much greater.
5. Create a Master Bedroom Suite
For personal comfort and enjoyment, creating a master bedroom suite is a very popular thing to do. If you don’t want to spend a lot of money on a full addition, which includes bumping out the foundation, excavating, and going through the entire remodeling process, you can always use existing unused areas of the house. This will save on construction costs and that will help out the pocketbook. If room for a master suite can’t be found by changing the interior building an addition is a way to go.
What is the price to add a master suite?
A master suite addition is $140 per square foot. The actual project costs per square foot depending on features and finishes. The master bedrooms size range from 200 to 400 square feet, while the bathroom is anywhere from 50 to 200 square feet. Using the above numbers you are looking at an estimated average of $35,000 to $84,000.
How much does a master suite Increase home value?
The return on investment for a master suite is over 50%. When you sell the home, you’ll get more than half of the money spent on adding a master bedroom and bathroom. If your bathroom was not up to date, then it could sell for more.
6. Additional Regular Bedroom
Adding a new bedroom to your home can make things more comfortable for you and your family. Whether you don’t have enough rooms or want to add a spare bedroom, adding a bedroom to an existing home can be accomplished in many different ways. You can use an attic or garage to convert it into a bedroom. Whether you are wanting to do a simple bedroom or a full-scale bedroom adding size to your home always adds property value.
How Much Does It Cost to Build an extra Bedroom?
The price per square foot to add a bedroom varies between $100 to $155. This means you can expect a 10×10 bedroom to cost between $10,000 and $15,500. If you choose to add it to the side of the house additional cost for foundation and a roof would increase the price in the neighborhood from $50,000 to $70,000.
What is the Return on Investment (ROI) of Adding a Bedroom?
Adding a new bedroom can add as much as 15% to the overall value of your house according to experts. This number can make a huge difference to the appraised value. For every bedroom added on to the property, you will be able to see a little more than a 50% return on investment.
7. Add Square Feet With A Kitchen Bump Out
Without a doubt, most homeowners would like a larger kitchen. Even though kitchens have expanded over the last few decades, the average kitchen size tends to range between 100 to 200 square feet. That’s not much room to work with when you consider that kitchens are densely packed full of many additional materials like a sink, oven, stove, refrigerator, cabinets, and more. It gets even more complicated with kitchens being central gathering points. Kitchen islands and sit-down breakfast bars create the need for extra space.
What is the approximate cost for a kitchen bump-out?
A kitchen bump-out addition costs $5,000 to $30,000. Bumping out two feet along one side of the kitchen is more cost-effective than adding on an entire room to get a bigger kitchen, although you can add up to 15 feet in a bump-out if you add footings or additional foundation.
Is a bump-out worth it?
Since bump-outs are considered “micro-additions”, we can presume they generate a similar return as other small-scale projects, like minor remodels. Given that the national average ROI for a minor kitchen remodel is 81%, this small kitchen expansion can prove to be a wise investment
→We have put together 8 comprehensive tips for kitchen remodeling←
8. Expand the Laundry Room Area
Home remodeling projects like laundry room additions are very popular. You can create a convenient and functional area if you decide to add this addition. What features would give your laundry room the biggest improvement and be the most convenient use for your family? This is probably the most important question to answer before starting a laundry room project.
How much should you expect to pay for a laundry room upgrade or addition?
A laundry room renovation with new flooring, paint, and storage will cost between $1,300 and $11,000. For full laundry room additions that adds square footage to the layout, prices range from $2,000 to $15,000.
How much ROI should you expect to see from a laundry room?
The return on investment for laundry room remodel is around 70%. If you don’t sell the house immediately, you might not realize all of those gains. The natural wear and tear in the laundry room will have an effect on your investment over time. Do a laundry room addition or renovation to fit your family’s needs not fully for the ROI.
9. Second Entrance Mudroom
Storage space and function are added to the house by mudrooms. In the past, they were once used in northern and midwestern homes as a secondary entrance for farmers and workers who wanted to get clean. Today, it is being adopted by many homeowners for their use. The second entrance can still be used to keep muddy boots and outer things out of the rest of your home. You can use it for storage space, organization, or an extension of your laundry room.
The estimated cost of a mudroom addition
The cost varies, but most additions cost between $90 and $200 a square foot. Most homeowners spend between $8,000 and $16,000 for a 50- square foot addition, with an average cost of $12,000. It is possible to pay as little as $4,500 for an equal size room, but larger rooms or bump-out additions could run upwards of $30,000.
Value a Mudroom will Add to your home
Not only does it add value, but a mudroom will also help protect other parts of your home. This is done by keeping messes contained in one area of the house. Doing this helps prevent dirt and other things from getting tracked throughout your home. This saves you money in the long run and makes your home look as good as it does now.
10. Bathroom Addition or Expansion
If you are living in an older home understanding having a grand bathroom back in the day wasn’t a selling point. Today is definitely a different day. Spa-like relaxation retreats with steam showers, large soaking tub, and spacious dressing areas are what homeowners want these days. It’s not easy to do that in a 5′ by 9′ size bathroom that you tend to find in an older home. You’ll need to find space somewhere in your existing floor plan if you want to add more than the standard sink/tub/toilet. Other options would be a full-on addition or a bathroom bump-out.
What is the cost overview to expand a bathroom?
Expansion of a regular size bathroom costs between $7,000 and $16,000. Expanding a bathroom may include installing new plumbing pipes, rerouting electrical, wall removal, new wall installation, drywall, and more. If you are thinking about doing a complete bathroom addition instead of a design change it will run you around $20,000 to $50,000.
How much can a bathroom expansion increase the value of your home?
A bathroom addition is a home remodeling project that can enhance the value of homes in Dallas. New bathrooms typically return about 60 percent of their costs at sale time, according to the National Association of Real Estate. In the Dallas area, bathroom additions and remodels offer an average return on investment (ROI) of up to 58%.
→Learn more Helpful Bathroom Addition Information←
11. Outdoor Living with a Covered Porch/Patio
A porch or patio, like any outdoor room, is a continuation of one’s living environment, whether it’s extended in front as a welcoming refuge, in the back as a screened-in, or covered way to experience the outdoors as a way to escape. Living in the North Texas area we oftentimes deal with unfavorable weather or annoying bugs. If avoiding the weather and bugs is important you might want to consider spending more money on an enclosed patio.
How much does adding a patio typically cost?
Most homeowners spend between $8,000 and $25,000 to build an enclosed patio, on average the construction cost will run you $16,000. You can expect to spend anywhere between $22 and $75 per square foot for features, labor, and exterior materials needed depending on your patio design.
What is the average cost of adding a porch?
According to FIXR, the actual project costs are between $12,000 and $30,000.A 16 x 20-foot front porch with roofing, wood deck, and laminated wood pillars costs around $20,000. For a simple portico with sheet metal roofing material and a single concrete step, the cost is around $5,000. A 20 x 25 foot wraparound porch with exotic wood decking, metal tile roof, additional decorative elements, and wide front steps will cost on average $50,000.
What kind of ROI should you expect on a patio?
If you spend the time and money to make the patio a feature of the home, you could potentially see an ROI of over 80% or more for you. Additionally, you could potentially add 8% to 12% appraised value to your home also. Covered outdoor spaces are especially high on most buyer’s wish lists and that will maximize your return.
How much ROI does adding a porch have?
The return on investment (ROI) of a porch or patio varies based on geographic location. For instance, the return on investment of a porch in colder climates will typically be lower than the return on investment in mild climates. So in the DFW area on average, you can expect about an 84% return on investment for a screened porch
12. Add Natural Light with a Sunroom
Sunrooms are not equivalent to a conventional addition. Smaller than a full-size addition, sunrooms are often made of pre-fabricated materials such as aluminum and thermal-resistant glass. Something that is more solidly built and visually matches the existing house can be achieved with a stick-built sunroom. These types of room additions are made with lumber, concrete, and other materials.
How much will a sunroom cost to build?
Three-season and four-season styles are the most popular designs. A three-season sunroom is attached to your home but without insulation. TIt will cost between $10,000 and $40,000 for a three-season room. A four-season sunroom that is fully insulated and often includes plumbing, heating, and electricity will cost between $25,000 and $80,000.
What kind of ROI should you expect on a sunroom addition?
The average return on an investment in a custom sunroom is 60 percent. Depending on the features and materials you use, some real estate experts estimate your return could be as high as 80%. Increasing the square footage of your living space adds value to your home.
→Learn More Information About 4 Popular Sunroom Addition Types←
Conclusion
Add Comfort, Space, and Boost Your Property Value by Adding any Room Addition
Whether you have a large or small home, expanding your square footage with a home addition is an invaluable investment. Adding usable room additions with features that are desirable to home buyers can increase your comfort at home and resale value down the road.
The best thing about a home addition is the ability to customize the finished space to fit your needs. Room additions are needed any several situations. A growing family, a need for remote office space, a desire to build a rental income just to name a few.
Building any home addition can be an exciting solution to the problem you are facing.
