The cost of moving from one home to another for more space has become more expensive thanks to the additional price tag of closing costs and land transfer taxes. One way to remedy this issue is to create more space in your home.
For homeowners who live in a bungalow, they may be in an ideal situation to double the amount of space they have for reasons, such as accommodating a growing family or the need for a multigenerational home. All they have to do is stack a new addition to their house and voila, a second storey home. (The HST housing rebate they’d qualify for thanks to the extensive renovation doesn’t hurt either.)
Also, these types of additions can also be added to a home that has a single-storey garage, but they’re a perfect option for homeowners with a small lot.
One tactic used by some companies is to build the frame walls, floors and roof for the additional storey off site, then haul the completed pieces to the house. From there, the addition can be added in and the installation isn’t as weather dependent. This also allows for a shorter construction time and less disruption during the renovation.
Some of the common construction materials used in these additions are laminated veneer lumber (LVL) and laminated strand lumber (LSL), which have longer lifespans and less defects, according to the Star. Engineered wood truss joists are used frequently to support the ceilings or floors.
The cost of renovations can vary, but it also depends on how much more work you want done. Covering the basics, which includes windows, roofing, siding, permits and framing, for a bungalow that’s 750 square feet could be under $60,000, according to the Toronto Star. But some additional changes to be done include fixing the electrical, plumbing, stairs and HVAC and the more you add on, the higher the dollar signs add up. Renovating your bottom floor and the quality of the materials you use can contribute to higher prices and your reno job could easily hit six digits and then some. (Also, when the roof is removed, your family will need to move out, which also adds to the project’s cost.)
Recently, a second-storey addition to a Toronto bungalow featured in the National Post cost the couple $700,000. Renovations took ten months and the bungalow was transformed into a three-storey, 2,800-square-foot house from a 1,100-square-foot home. Some of the changes include ten-foot ceilings on the main floor, three bedrooms on the second floor, a family room on the top floor and a roof top terrace. The pair enjoyed living in the neighbourhood, but couldn’t find a larger home that they could afford.
Keep in mind that all this work will require permits and it’s important to check that your builder has the appropriate ones. Your foundation will need to be inspected to check that it can support the additional weight and you’ll need to check whether bylaws allow you to build your property vertically. You might consider hiring a RenoMark contractor for peace of mind.
Save money on your home renovations with help from Rebate4U, who will ensure a smooth HST rebate transaction. Our priority is to provide our clients with the most professional and quality service in obtaining rebates for their new and renovated homes. We are proud to offer our clients the most personal and attentive service, and we make sure that all of our clients are 100% satisfied.