Some home renovations add property value while others fall flat. Find out if a second floor addition is a good investment for your home!
As of the second quarter of 2021, the median house price in the US was $374,900.
Many factors affect the value of homes and other properties such as location, quality, and size. There are various things you can do to increase the value of your property, and one of them is getting a second-floor addition.
For a guide on what this involves and why you might want to do it, keep reading.
What Is a Second Floor Addition?
A second-floor addition is a way of increasing the size of your property without taking up any extra land. Many properties are limited when it comes to floor space due to land ownership and surrounding properties.
But building upwards doesn’t take up any extra space at ground level, so is often the best way to expand.
Second Floor Addition Ideas
If you want to add a second floor to your property there are several remodeling options you can choose from. Depending on your type of property and the results you want, you can choose your preferred method.
- Build from scratch – This is where you remove the roof from your property to completely rebuild up from there. This is a popular choice for ranch-style houses.
- Replace roof – You can sever the edges of your roof and lift it off. After building the new level you can then place the roof back on top and secure it.
- Expand – Rather than building an entirely new level you can expand the space of the existing second level. This can only be done if you have an existing section to expand onto, such as a flat-roof porch or garage.
- Modular Design – You can have a modular addition built separately, and once it is fully built you can have it brought in and installed. This can be the quickest and most cost-effective method and will cause the least disturbance at your property.
Just note that there may be building regulations that you need to adhere to. If this is the case your options may be more limited.
Second Floor Addition Costs
When expanding your property, your two choices are to build outwards or build upwards. On a budget, building up is usually the best option.
If you want to expand outwards you may need to purchase more land depending on the current situation. On top of that, a new structure will need more foundations to be built. Foundations are often one of the more expensive parts of a new build.
Not that you will need to have the current foundations of your property checked to ensure they can handle the weight of a second-floor addition.
You can also save money if you remove the current roof with a crane and re-install it after the second floor is completed. Using a crane for this service is significantly cheaper than destroying the roof and building a completely new one.
Adding a second floor will double the square footage of your property, and the framing and weathering can be done in a matter of days. You are then free to complete the space room by room as you see fit.
Depending on your capabilities and what this new space will be used for, you may be able to complete a lot of the work on your own. Anything you do yourself will save on costs as you won’t need to hire builders or contractors to complete the work.
Will It Add Value to Your Property?
Adding a second floor to your property will always increase its value. Whether it is residential or commercial, having more space is always a benefit to a potential buyer.
The exact amount of the value increase is difficult to specify as it will depend on several factors such as the type of addition and the potential applications of the extra space.
Other Factors
One thing you will need to take into consideration before starting on the second-floor addition is utilities such as plumbing and electric services. Will these systems need to be altered for the second floor? If so, this will add to the overall cost of the installation.
A general rule to consider is the higher the cost of your building addition, the lower percentage of the ROI (return on investment) will be.
Working out costs and the value increase can be difficult. For the cost, the best thing to do is ask your builder about previous similar projects. Then to get an idea of how much value it adds you should look at the selling prices of properties in your area that have similar additions.
Before you start building you should check your local building codes as there may be height restrictions in place. You will also need a structural engineer to evaluate your property to make sure it can handle an addition. This will include foundations, rafters, and more.
Take the external appearance of your building into consideration. Additions can often look out of place, so you want to make sure it looks like it has always been a part of the property. To do this you need to pay attention to several factors:
- Colors
- Window styles
- Shitters
- Patterns
An experienced design team should be able to make sure everything matches up correctly. Jay Cad can even provide you with a 3D virtual tour of your property, giving you a very real display of how it will look when it is finished.
Designing Your Second Floor Addition
Jay Cad is a leading drafting service based in Los Angeles. Our focus is on both quality and efficiency, providing you with the best possible work in a timely fashion.
We offer various services including architectural design, structural engineering, and surveying. We will help with every stage of the design process so that your second floor addition is perfect for your property.
We can also obtain any permits and clearances you need to add a second floor to your property. For a free quote, click here, or get in touch if you have any questions.
