How Much Are Home Additions?

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Every year hundreds of thousands of people decide to take on custom home renovations. Whether it is an entire addition or just a few rooms that need adding onto the home, custom home renovations allow homeowners to build the home of their dreams. Just ask those who’ve worked with reliable renovations companies like Aspire Renovations. Although it can be expensive upfront, customizing your house to fit your needs can save you money down the road.

As the custom home renovation era starts to take place, many things have begun to change. Homeowners are now looking for ways to add value and to increase the living space in their custom homes while at the same time ensuring that they keep quality up. Before deciding whether custom home renovations are for you, here are some things to consider about how much they cost.

interior finishing cost estimate

Cost Considerations

When customizing your own house, it can be tempting to upgrade every tiny detail of your home so that every inch of your custom home matches in quality. A small crack or minor scratch becomes much more noticeable when everything else around it has been upgraded. But if you want to manage the cost of custom home renovations, every single thing in your home doesn’t need to be upgraded to the highest standards. For example, custom-built homes might need custom appliances, but they do not always need custom counters. Removing and replacing old countertops can be expensive. However, customizing little things like bathroom hardware or lighting fixtures can make a big difference in the look of your home without drastically increasing costs.

One important thing to remember about custom home renovations is how easy it can be to go over budget. Whether you want your kitchen or bathroom redone, prices for things like cabinetry, flooring, countertops, and lighting can climb very quickly. Keep an eye on which items are rising in price and which are dropping to maximize your dollar. For example, cultured marble or granite islands usually always sell for less than their stone countertop counterparts because the material has remained popular over time.

What Affects The Cost?

When it comes to determining the cost of custom home renovations, there is no simple answer. By their very nature, no two custom home renovations are the same, which means they won’t cost the same. Here are the biggest factors that affect the cost of custom renovations.

Size & Scale

The cost of your custom home renovation is going to depend on the amount of work being done. If you’re turning your bland basement into a new games room for the family, that’s not going to cost you nearly as much as remodelling the kitchen, living room, bathroom and adding a secondary suite.

Price is often calculated by square footage, so the more work that is being done, the more it will cost you.

Materials

As we referenced above, the materials you decide to include in your renovation will also have a major impact on the final cost of your project. Materials for flooring, countertops, cabinets and many other elements of your home vary greatly depending on quality, brand, and their current demand on the market.

Labour Costs

Lastly, labour costs are a big part of the final bill when it comes to custom home renovations. The cost of labour is usually calculated by the hour, which means the longer your project takes, the more you’re going to pay. Different contractors will charge different rates depending on their quality of workmanship, demand for their services, and the type of work being done. Before hiring a contractor, make sure you get a clear quote on what they charge for labour.

 

 

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