FACTORS AFFECTING THE COST OF A NEW ADDITION A common question that homeowners ask is how much a new addition will really cost after an estimate is provided. There is often wide variance. The answer, however, is more elusive, as adding on to any home — whether it is building out from the pre-existing footprint or adding a new level on top of it — is subject to a host of complex factors. These factors may include (when applicable): • Architectural design • Site preparation (demolition, excavation) • Concrete work • Support structure (standalone and/or in conjunction with existing structures) • Roofing materials • Siding • Ceilings/Walls
• Carpentry • Inspections • Electrical and Lighting • HVAC • Carpeting • Window installation
HIDDEN COSTS As a consumer, it is in your best financial interest to minimize costs when adding a new home addition. One of the first places to keep an eye out for hidden costs is the remodeling contract. While it may cost more initially, be sure to demand a fixed-cost contract. This contract should include: • detailed list of the work involved • a change-order policy • a firm price
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