Second Story Addition on Ranch Home

[Jon Mulholland]

Hi all!  Fairly new to BP but have been reading (lurking) for a while.  This isn't as much an investment question, but have been looking at a ranch home on a beautiful piece of property.  The home is 1500 sq ft, and we would love to build onto it (up) which would in theory approx double the square footage.

About the home: built in 1961, and I got to look at the original plans and it looks like the footings are large enough to support the work.  Assuming there are no other issues like soil, etc that would prevent this type of addition, does anyone have any experience in this, and any ballpark estimates for cost?

I know, I know, there are a million variables that can go in from design to roof to fixtures, etc, but just trying to see if anyone has experience with this, any similar projects they have seen and what those cost, any contractors that specialize in this, etc?  

Also, assuming we did this in about 3 years, and at that time have a mortgage on the current home, what type of financing would be best for this type of project?

Any input would be great, thanks! -Jon

[Jake Fugman]

@Jon Mulholland I dont have experience adding that much square footage but I do know that adding at least 1/2 bathroom sometimes requires updating your water supply line (inbound water to home) per Illinois code.  Cost of running a new water service is about $3,000 - 8,000 depending on where the main line is located. So quick tip would be to check what size line the home currently has so you can build that into your costs. 

Ex:  if you have a old 5/8" line you will likely be required to upgrade to at least 3/4" if you add any plumbing fixtures

Good luck!