I have the chance to purchase a house from a family member in a really desirable neighborhood for less than market value. We're considering building out the second floor to enhance the master bedroom and two other rooms. We're in the early planning stages, and I wanted to hear from anyone in Canada who has gone through a similar process. What kind of ballpark costs should we expect? I know there are many factors to consider, but I'm just looking for a starting point before we dive into finding contractors for estimates.
4 Answers
Honestly, it might be easier and cheaper to find a house that already has the space you need instead of expanding an existing one.
Yeah, people definitely do this! It used to be easier to find a contractor for these projects, but nowadays it can be trickier since there are so many variables. I’d estimate around $200,000, but it might go higher depending on labor availability.
I got a quote a few years ago for about the same thing—adding a 1200 sq ft second floor—and it was around $100K plus roofing costs. I think $200K seems high.
Our neighbors went through with a similar project years ago, but they had to tear part of the house down and put in a new foundation because the original couldn’t support a second floor. It cost them almost as much as their smaller house was worth back then and took nearly a year to complete. Make sure to consult with an architect and/or engineer.
Good to hear! My husband’s an engineer, so he’s confident in handling the structural side for us. We just didn’t know the actual building costs.
I did this with my house! We hired an architect and engineer because we have some massive covered decks. It was definitely worth the investment, I love my home now!
Thanks for the insight! We have a budget of around $300K. If we need a plan B, we’re thinking of just extending the master a bit instead. It's good to know that we’re on the right track.