Stonehearth Remodeling

Cost Of A Second Story Addition In Minneapolis

The cost of a second story addition in Minneapolis ranges from $200-$300+ per square foot or $325,000 – $500,000+, depending on the size, materials used, complexity, structural changes and more. 

These numbers represent the average cost, for a luxury second-story addition you could expect to pay upwards of $500,000.

For the most accurate quote on your second story addition in Minneapolis, reach out to Stonehearth Remodeling. 

Our expert team of estimators will give you a point-by-point breakdown of exactly how much your addition will cost and work with you to find the best solution for your home. Call today for a free quote!

Price Breakdown Of A Second Story Addition In Minneapolis

Second Story Addition Teir Cost Based On 1600 Sqft
Standard Grade 300-325k
Premium Grade 325-375k
Luxury Grade 375-450k+

Key Factors Affecting The Cost Of A Second Story Addition

Due to the large project nature of a second-story addition, there are many factors involved in understanding the full cost associated with your addition. Below are some of the largest factors that can impact the cost. 

  • Location of the staircase from lower to upper
  • Engineering issues – structural capabilities 
Cost Factor Description
Size of Addition Larger additions cost more
Quality of Materials Premium materials increase costs
Structural Changes Reinforcing existing structure
Roofing and Exterior Matching new roofing and siding
Interior Finishes Higher-end finishes cost more
Design Complexity Custom or complex designs
HVAC Updates Extending or upgrading systems
Electrical Updates New wiring, panel upgrades
Plumbing Adding bathrooms or extending pipes
Permits and Inspections Required by Minneapolis regulations

Note: These figures are estimates and can vary based on specific project details, current market conditions, and individual contractor pricing. For the most accurate quote, reach out to Stonehearth Remodeling today!

 

Is It Cheaper to Add A Second Story Or Build Out?

When considering whether to add a second story or build out, the cost-effectiveness of each option can vary significantly based on several factors. Generally, building out tends to be less expensive, with costs ranging from $90 to $210 per square foot, compared to $200 to $500 per square foot for adding a second story. However, this isn’t always the case, and the final cost depends heavily on your specific circumstances.

Building out can be the more economical choice if you have ample yard space and favorable soil conditions. It’s typically less disruptive to your existing living space and doesn’t require extensive structural modifications to your current home. However, if your lot is small or local zoning laws restrict horizontal expansion, building out might not be feasible, potentially making a second story addition your only option.

On the other hand, adding a second story could be more cost-effective if your home’s existing foundation and structure can support the additional weight without major reinforcement. This option preserves your yard space and might offer better views, which could increase your property value. However, if significant structural upgrades are needed to support a second floor, costs can escalate quickly, making this option more expensive than building out.

Other factors that can influence costs include the complexity of the design, quality of materials used, and local labor rates. For instance, a simple, open-plan addition might be less expensive to build out, while a complex second story with multiple rooms and high-end finishes could be significantly more costly. Additionally, the extent of required plumbing, electrical, and HVAC work can impact costs for both options.

Ultimately, the most cost-effective choice depends on your specific home, property, local regulations, and personal needs. 

To understand the real cost associated with building up vs out, give us a call today!

 

How Long Does a Second Story Addition Take?

Adding a second story to a home is a significant undertaking that requires 6-12 months to complete. The duration of such a project can vary based on several factors, but here’s a general timeline:

Overall Timeline Of A Second Story Addition

Typically, a second story addition takes about 6 to 9 months from start to finish. However, this can extend to 12 months or more for larger or more complex projects.

Project Phases

Planning and Design: 1-3 months

  • Includes architectural drawings, engineering plans, and obtaining necessary permits

Preparation: 1-2 months

  • Involves clearing the site and preparing the existing structure

Construction: 3-9+ months

 

Factors Affecting Timeline

  • Project size and complexity
  • Weather conditions
  • Availability of materials and labor
  • Unforeseen structural issues
  • Local building regulations and inspection schedules

 

Does Adding A Second Story Add Value To My Home In Minneapolis?

Adding a second story to your home in Minneapolis can significantly enhance its value, but the extent of this increase depends on several factors. On average, homeowners can expect to recoup 60-70% of their investment in a second-story addition upon selling their house. 

This increase in value is largely due to the additional living space and improved functionality that a second story provides, which are attractive features for potential buyers. A second story can add more bedrooms, bathrooms, or even a home office, making your home more versatile and appealing.

Moreover, homes with a second story often stand out in neighborhoods where single-story homes are prevalent, potentially increasing curb appeal and marketability. 

According to a survey by the National Association of Realtors, homebuyers are willing to pay more for homes with additional bedrooms, which a second story can provide. 

Additionally, two-story homes in the same neighborhood typically have values that are 10-30% higher than single-story homes.

However, the financial benefits must be weighed against the costs and potential disruptions of such a project. 

Adding a second story is a significant investment, with costs varying widely based on the size and design of the addition, as well as local labor and material prices. 

The construction process can be disruptive, often requiring homeowners to temporarily relocate, and it involves navigating zoning regulations and ensuring structural integrity.

Ultimately, whether adding a second story adds value to your home depends on your specific circumstances, including your budget, the local real estate market, and your long-term plans for the property. 

 

Takeaway

The average cost of a second-story addition in Minneapolis typically falls between $325,000 and $500,000, depending on the size, design complexity, and finishes chosen. This price range includes mid-range additions that provide extra bedrooms, bathrooms, and living space, while more upscale luxury additions can exceed $500,000. Luxury additions often feature high-end materials, custom designs, and premium finishes that significantly elevate the cost.

Several factors influence the cost of a second-story addition, including the need for structural reinforcements, roofing changes, and electrical or plumbing upgrades to support the new living space. Permits, architectural plans, and unforeseen construction challenges can also impact the overall expense.

To get a more accurate estimate tailored to your specific needs and home, it’s essential to consult with professionals. For detailed insights into pricing and the scope of work, reach out to Stonehearth Remodeling today for personalized advice and a comprehensive quote.

 

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