From Floor to Ceiling
Third floor extensions are prime investments for homeowners, especially since they signifcantly raise the value of a home, while also providing more livable space – without spending as much on structural elements. In terms of budget, though, it really depends on the square footage and design.
Building on UpThe cost of adding a third floor can be anywhere from $150,000 – $300,000. That drastically raises the value of a semi because a semi is limited to how much space it has anyway. But depending on where you are, adding a third floor to a semi gives you so much living space on the top floor. You would easily double your investment.
Depending on where you are, adding a third floor to a semi gives you so much living space on the top floor
Moving on UpA lot of people live in semis and in single, detached homes in that area [Midtown] and they’re always trying to find more space in their basement or by doing an addition off the back, but it’s actually more cost-effective and better value for your dollar if you build up, obviously, if you’re allowed to. This area has a lot of prominent third storey-potential properties that allow zoning for a third floor.
The extent of It
A lot of the extensions or a lot of pricey parts of a build are in the excavation and in the foundation. Excavating and then, filling it with concrete costs a lot of money, whereas taking the roof off and adding another storey is really just wood, like lumber, and stucco, or siding or brick, and is a lot more cost-effective. You’re just building on top of the template that’s already there, the blueprint of the house.
The other thing about adding a third floor is that heat rises but you naturally gain heat to the third floor really, really easily without spending a lot of money on your HVAC.
…Taking the roof off and adding another storey is really just wood, like lumber, and stucco, or siding or brick, and is a lot more cost-effective
Allocation, Allocation, AllocationSome families have kids that are young children but not toddlers, and they like to keep young children on one floor and the parents like to move up to the top floor and have a beautiful en suite and have a master bedroom, master bathroom, master closet and leave the kids on the second floor.
Other people have babies and they would rather put their two kids on the third floor and put an office and a master bedroom on the second floor.