10 Expenses Homeowners Forget to Budget for When Planning an Extension
Adding an extension isn't cheap, and many homeowners forget to account for these costs when budgeting.
Adding on square footage to your house isn’t a simple task, even if you know how to build an extension. Homeowners often forget to budget the cost of permits when planning that addition. Building permits can cost $50 to $300 for small projects like plumbing and electrical, but can go into the thousands for major renovations or remodeling.
Hiring an Engineer or Architect
Depending on the size or complexity of your project, you might need to hire an engineer or architect to draw up plans for your extension. Structural engineers charge between $100 and $200 an hour, according to Home Advisor. “For new construction or large remodels, one percent to 20 percent of the total construction price, or $1,500 to $20,000, goes to the structural engineer,” Home Advisor reports.
Furniture or Appliances
Don’t forget to include the costs of decorating or filling out that new room.
If you’re building a second kitchen, think about an oven, refrigerator, dishwasher, etc. If you’re adding another bathroom, there’s a vanity, sink, toilet and more to account for. What another bedroom? You’ll need a bed, dresser, rugs and night stands, just to begin with. You’ll also probably want artwork or picture frames to add some personal touch to the room.
Unexpected Electrical or Plumbing Issues
You never know what kind of weird issues lay behind your walls. If you’re planning to add on to your house, you might just unearth some not-up-to-code electrical or plumbing violations. Budget a buffer in case you run into any bumps in the road during your extension build.
This might not apply to all home additions, but if you’re planning to rip out any walls or do major demolition to make way for your new addition, plan for a dumpster to haul off all the debris. The average cost of a dumpster rental nationwide is about $450, according to Dumpsters.com.
Hiring a Project Manager
You can save a lot of money on an extension if you plan on doing it without a project manager. A project manager is largely responsible for hiring and scheduling subcontractors to complete specific portions of the project. But if you feel comfortable hiring those contractors yourself, that could save you thousands or even tens of thousands, depending on the scope of the project.
Foundation work will probably the most expensive portion of the extension. Keep that in consideration if an extension is right for your home.
Fixtures and finishes
Think carefully about all the fixtures and finishes you’ll need for your home addition. Maybe faucets, lights, flooring, paint, shelves, moulding, knobs and handles. Project managers might upcharge you on items they purchase, so you can save a lot of money by buying the fixtures and finishes you like that are on sale or secondhand.