Purchased a Ranch-Style Starter Home? No, You Don’t Need to Move – You Need a Second Story Addition!
Maybe you’ve got another baby on the way; maybe your parents are moving in after retiring; or, maybe you adopted a puppy that grew way bigger than you ever anticipated!
Whatever the reason, space in your home has become a limited commodity, and you need more of it. Still, you love your location – but so does everyone else! Relocating to a larger home within the same neighborhood might prove difficult, but you don’t necessarily need to move. Instead, you should consider building a second story addition!
Why a Second-Story Addition May Be Right for You
There are many reasons why a second story addition may be the more practical and economical choice when it comes to deciding whether to stay or move from your current home.
First, a second story addition can increase the value of your home by more than half while also increasing available space, especially if you plan to stay in the home for several years. Many homeowners also take advantage of the ongoing construction to heighten first floor ceilings as well to further increase home value.
Then, if your home sits on a smaller lot, expanding your home vertically will not only add property value but also potential bedrooms and bathrooms without taking up any more space outside. That means your outdoor garden or your children’s swing set will remain untouched!
All in all, a second story addition will typically cost between $250 and $500 per square foot, depending on the materials used and how complicated it will be to build upon your current home.
Before You Build A Second Story Addition
Know, however, that there are several factors that may make the decision to stay or move from your current home for you.
For example, your home’s foundation and bone structure must be able to support a second story addition, and you must also be permitted to add a second story by your local government zoning office.
Additionally, some homes are simply not designed well for additional stories. That is why it is important to work with an architect when considering adding more space. For example, ranch homes typically handle second story additions quite well, but bungalows can be more challenging to navigate.
Next, you must consider the “extra” costs to your long-term investment. Your heating and cooling bills and property taxes are likely to increase. Are you able to budget for these additional costs, too?
If the answer is yes, your final consideration will be regarding your own limits. The design and engineering process can take up to six months alone, with construction potentially keeping you out of your home for a year longer. Do you have up to two years to devote to this project? Are you able to stay with friends or relatives while your second story addition is being built? Or, if you are permitted to live inside your home during construction, how will the dust, construction noise, and frequent disruptions to plumbing and electricity affect your day-to-day life and mental wellbeing?
Many homeowners are happy with their decision to build a second story addition, so don’t be deterred – just be prepared!
Consider Your Options
A second story addition, while as stressful as finding and purchasing a new home, is an option available to you when working with the right architect and contractors. In the end, the closing costs involved with selling your home and buying a new one with the space you need may end up equaling what it would take to stay in a home and a neighborhood you love with a second story addition.