Home additions in Provo can range from around $10,800 to more than $90,000 depending on the construction type. Most homeowners, however, spend roughly $50,500 for an extension.
The type of project will also determine the return on investment if you’re after a higher home value. Some of the best and cheapest home additions include a walk-in closet due to the high return on investment. The actual cost of your chosen home addition will also vary primarily on the type of materials and cost of labor.
ROI for Small Projects
A standard walk-in closet that measures 6.5 feet wide will cost at least $1,500, while initial prices for reach-in and wardrobe closets will cost $1,000 and $2,500, respectively. Cabinets that need new walls will cost more than the average rates. When designed and installed correctly, you could recover 100% of the initial investment upon reselling your property.
If you plan to build a deck, it can cost from $50 to $150 per square foot. You can spend at least $2,500 inclusive of labor and materials. The ROI for this project ranges between 80% and 100% depending on style and type of materials. A so-called butler’s pantry is another option, which costs at least $1,000 with a minimum return of 50%. Some homeowners add this as an extra storage area in the kitchen. Use budget materials since this room is not in plain sight.
What About Bigger Projects?
You can recover 60% of your expenses on a second bathroom. A mid-sized project can cost between $8,000 and $15,000. Don’t think that splurging on a second bathroom will drastically increase your home’s value. Fixtures like a hot tub and sauna seem enticing, but are you willing to pay for maintenance expenses to recoup your investment by the time you sell your house?
Those who plan to build another bedroom can also recover up to 50% of their investment. While it increases the home’s perimeter, its yard space also becomes smaller at the same time. A new bedroom can cost at least $150 per square foot. Homeowners who plan to build an outdoor kitchen shouldn’t expect a huge ROI if their yards don’t get a lot of sunshine. Otherwise, the ROI for this home upgrade can be up to 200%.
Who Should You Hire?
Contractors in Utah County can charge the same rates for home additions, so it’s best to ask around to compare their prices. You can save money from hiring an architect by choosing to hire a design contractor instead. These professionals will oversee both the design and construction aspects of your project. Take note that architects are better for specific projects, like changing your floor plan.
Look for a residential construction company that specializes in energy-efficient or sustainable building methods. While rates in Provo might be similar among most contractors, you should still ask for quotes from at least three different builders to know the prevailing rates. Don’t hire a general contractor, unless you’re willing to pay additional fees worth between $6,055 and $7,570.