If you’re considering an addition to your Naples-area home, you probably want to have some kind of idea of the financial commitment you’re going to be making before you jump into a project with both feet. That’s just plain smart.
Getting accurate figures up front is a little tricky, however. That’s because there are so many variables that can impact the cost. Homeowners (understandably) want some kind of “ballpark” figure. Remodelers (also understandably) are sometimes hesitant to give those because so many specific requests (including things such as materials and the scope of the project) can drive costs up. By the way, here’s a helpful post that outlines how to keep a lid on your remodeling budget!
Fortunately, there is a resource that provides homeowners with at least a rough idea of what particular kinds of projects should cost in their area. The Remodeling 2017 Cost vs. Value Report (www.costvsvalue.com) defines certain projects for specific geographic areas and then attaches a cost to them.
So what does that mean for you if you want to put an addition on your Naples-area home? Let’s look at two examples from the 2017 Cost vs. Value Report. (By the way, the report uses Fort Myers as the nearest city for comparison).
A Midrange Project: Here’s how the report describes a midrange 2-story addition:
In a style similar to the rest of the home, add a first- floor family room and a second- floor bedroom with full bathroom in a 24-by-16-foot two-story wing over a crawlspace. Add new HVAC system to handle addition; electrical wiring to code.
Family room: Include a prefabricated gas fireplace; 11 3-by-5-foot double-hung insulated clad-wood windows; an atrium-style exterior door; carpeted floors; painted drywall on walls and ceiling; and painted trim.
Bathroom: 5 by 8 feet. Include a one-piece fiberglass tub/shower unit; standard white toilet; wood vanity with solid-surface countertop; resilient vinyl flooring; and mirrored medicine cabinet with built-in light strip; papered walls; and painted trim; exhaust fan.
Bedroom: Include walk-in closet/dressing area; carpet; painted walls, ceiling, and trim; general and spot lighting.
The cost for a project fitting that description comes in at $166,216. Obviously, variations from that description (such as the size of the rooms, or the materials used) can affect the final cost. But at least you have a starting point.
An Upscale Project: The report describes an upscale project (in this example, a Master Suite Addition) in the following way:
Add a 32-by-20-foot master bedroom suite over a crawlspace.
Bedroom: Add a spacious sleeping area with lounging/sitting area adjacent to the large master bathroom. Include custom bookcases and built-in storage with millwork details; high-end gas fireplace with stone hearth and custom mantle; large walk-in closet/dressing area with natural light, mirrors, and linen storage. Add French doors to exterior.
Bathroom: Include a large walk-in shower with dual-shower system, stone shower walls and floor, and custom frameless glass enclosure. Add freestanding soaker tub. Include two sinks in separate custom vanities with stone countertops and large mirrors. Create a partitioned area for luxury one-piece toilet.
General: Add 5-foot-long hospitality center with bar sink, under-counter refrigerator, custom cabinetry, granite or marble countertop, and microwave. Include soundproofing, in-floor heating, custom wall finishes and hardware, general and spot lighting, and lighting controls.
The cost for a project fitting this description comes in at $237,233. Once again, this may not exactly match what you want to do in your home, but it provides you with a range so that you can begin to plan. Complete data from the Remodeling 2017 Cost vs. Value Report © 2017 Hanley Wood Media Inc. can be downloaded free at www.costvsvalue.com.
To get a truly accurate estimate of what your specific project will cost, you’ll want to meet with a designer and a remodeler to make sure every aspect is covered. That’s one of the advantages of dealing with a design/build remodeler. The people creating the plan for your addition are part of the same team as the people who will actually do the work. Nothing slips through the cracks or gets over-looked. That means your final estimate will accurately reflect the amount you’ll pay at completion.
Click here to get an idea of the quality of work and attention to detail you can expect from Reed Design Build on your Naples-area addition or remodeling project.