The cost to build 500 sq ft addition varies greatly based on the type of project and the contractor’s experience. For example, a basic addition that does not include any customizations or expensive materials can be built for as little as $15,000. However, if you want an upscale look or want your addition to be energy efficient, then it might cost upwards of $20,000 to $30,000.
A basic 500-square-foot addition includes a kitchen and dining room area with one bathroom, but can also include a bedroom and living room area. There are many options available when it comes to adding square footage to your home and increasing its value. The most common types of additions are covered below:
An extra bedroom: Adding an extra bedroom allows you to use your home as a guest house or rental property. It also adds value to your home if you plan on selling in the future because people will pay more for homes that have bedrooms instead of just bedrooms with a shared bathroom and kitchen area.
A second story: A second story usually includes the same amenities as an extra bedroom plus an additional bathroom and sometimes even a walkout balcony or patio that overlooks the first floor of your home
Cost to build 500 sq ft addition
The cost of building an addition varies depending on the size of the addition, the complexity of its design and its location.
The average cost of building a 500-square-foot home addition is $15,000 to $20,000, or $5 per square foot, according to HomeAdvisor.
If you’re building an addition for a single-family house, you should expect to pay about $2.50 per square foot for labor and material. This figure might include excavation costs for footings and foundation work as well as framing costs for walls and ceilings. Other typical expenses include installing drywall and sheetrock, installing electrical wiring and plumbing systems, installing exterior siding and installing insulation in walls and ceilings.
According to Remodeling Magazine’s Cost vs. Value Report 2017, which surveyed more than 2,700 homeowners across the country about how much they spent on remodeling projects in 2016 (including additions), the average cost of adding a basement was $49,500; adding an attic was $39,900; adding a porch was $27,700; adding a sunroom was $19,400; adding a garage was $17,600; adding a master suite was $16