Why would you build a home addition?
So you have been contemplating adding additional space to your home and have considered the option of a home addition. There are many reasons why a home addition in Toronto would make sense. Property prices are still rising in the city with the average home in the GTA topping $1million dollars. Sometimes the move to a larger home does not make financial sense and building on does.
The layout of older homes in Toronto do not offer open plan living space as center walls typically act as load bearing divisions through the home. To create this open plan space structural beams would need to be installed from the front masonry wall to the back. With an addition added, it will allow for more viable options for an open plan living concept.
Your family is growing, and you need more space. With people working from home more and more these days sometimes your current space wont work for viable working conditions. People need to separate their family life from the work environment. Building an addition will allow you space to expand your kitchen or living area which in turn would free up a room for an office.
How much space can a home addition ad to my property?
This comes down too many different variables. How large is your lot? Is your home semi-detached or detached? What is your budget?
A typical addition for a detached Toronto home is 15ft x 20ft. If you build a three-story addition you will then have an additional 900sq ft between your basement, main floor, and top floor.
In saying this it would heavily depend on your budget.
Will my property increase in value with a home addition?
Depending on your location a home addition can add significant value to your home. Prices per sq ft have in Toronto have risen year on year. Every sq foot you add could add $600 to $800 dollars to your homes value. Possibly more depending on your area.
What to know when doing a renovation and home addition?
- Decide if you are doing a full renovation or just a home addition.
- A home addition will still need access points (through the existing walls) Sometimes a full renovation can make more sense.
- Decide on your basement ceiling heights (Do you need to underpin it to gain more height?)
- Do you need additional access to the basement if you are planning to rent? You may need a walkout?
- What is access like in and out of the property? If you plan to build without alley access you may have shared access with a neighbor. Remember heavy machinery will be going in and out so make sure your neighbor is aware.
- Have a defined plan in what you want to achieve. For example, if you have young kids do you need a playroom? Can this be converted in their teenage year to a hang out spot, can this be space be rented when they leave? Try and future proof your home so when you do the renovation you do it once.
- Do you plan on managing the build yourself or will you bring in a General Contractor in Toronto?
- Get plans drawn up by an architect, ensure your checklist is completed before you meet.
- Once your plans are drawn up send them out for quotation – This will give you an idea if your budget is realistic.
- If quotations are in sync with your budget, then apply for your permit. This typically takes 30 days if everything goes smoothly.
- Book your contractor – Go to your preferable contractor’s site. See how they operate and gain feedback from their current clients. Remember that references are extremely important when trying to find a contractor in Toronto.
How much does a home addition cost?
Well, this is the million-dollar question and yes it could run to a million bucks do not watch your finances. A typical home addition in Toronto can run from 250k for an addition only to 500k for a full reno and addition. This would be for mid-level finishes and can run a lot higher if you have expensive taste. Don’t be afraid to aim high at the start but make sure to have a defined budget. Remember you cannot cut cost on structural works, but you can change your choice of tiles and kitchen countertops.
Do you need a General Contractor for your Home addition?
If you need a five-star rated home addition expert contact Self Build Canada. We specialize in home additions in Toronto and would be happy to help. Call today!