I'm thinking about building an apartment on top of my parents' house since the real estate market here in NY is pretty rough. My parents have a nice place and they offered to let us use our downpayment savings for this project. We'll need our own entrance, a full kitchen, 2 bathrooms, and 3 bedrooms, but the entire unit won't exceed their current 1500 sqft house size. Does anyone have an idea of the costs involved or if this kind of project is even doable?
2 Answers
It's crucial to consult with a structural engineer before moving forward since the foundation and walls are designed for specific loads. They'll give you a clear idea if adding another floor is even possible with the existing structure.
Generally, building up is more expensive than a ground-level addition, mainly due to the structural concerns. If the walls of the original house aren't reinforced properly, you could be looking at not just adding a floor but also doing some renovations on the first floor. It's definitely important to factor in those extra costs when budgeting.
Sounds like a lot of work and money! Maybe a first-floor addition would be a simpler option?
Yeah, that might be a good point. I’ll look into it!
Got it, thanks for the advice! Sounds like I need to start with that.