Expanding the floor space of your home can be an intriguing concept! It does, however, come at a cost, and adding a second floor is a larger commitment and effort than many people think when they begin.
But, can we agree that the ability to remain in the same community you've known for years or to continue enjoying a setting that can't be found anywhere else - it's priceless?
However, adding a second floor is a large project, it's important to understand the procedure and expenses before deciding whether or not to proceed.
Let's dig deeper into the facts of adding a second floor to your home and the implications it has.
During your house renovation, here are the most common ways to add another level. It boils down to your tastes, foundation needs for adding a second floor, and construction laws that will all influence how you approach your second-floor extension project.
A modular second-floor addition is designed and manufactured off-site and delivered to your existing home fully constructed.
Another alternative is to demolish the roof and start with building the second floor from scratch as a new level. However, consult a professional build company because the current frame of your house may not be up to code for adding the additional weight of another story.
No matter if you want to add a second floor to add extra privacy for yourself, or if you have kids, you want them to have their room; there are a few things you need to be careful:
The height of ridgelines on residences in your community may be limited by local building laws. Before you start drawing up the designs, talk to local city officials.
If you double the height of a basic, rectangular house, it will look like a big box. That's why trim, porches, overhangs, roof pitches can help to balance it out.
Because some house foundations aren't capable of supporting a multi-level building, you should always double-check the foundation requirements before adding a second floor.
A one-story house's rafters aren't usually sturdy enough to serve as floor joists for a second level.
Tip: Before you start planning the renovation, have a structural engineer inspect your home's foundation and structure.
The new second floor's window shape, placement, and size should match the old story so that openings line up or make appealing patterns on each external wall from top to bottom.
Well, it depends on your goals. If you plan on adding a significant amount of space, let's say; more than one room, but you have a restricted budget - the best alternative is to build up.
Because you will work on your existing foundation, the good news is that you won't have to do any extra foundation work, which is one of the most expensive parts of any remodeling.
But, don't forget to make sure the foundation supports the weight you will add.
Building another story generally runs between $100 and $300 per square foot. But it can cost as much as $500 per square foot and this depends on the quality of materials and complexity of the project
However, you will be able to save more money on roof construction by removing the current roof in one or two major portions with a crane and reinstalling it on the new second floor.
Although renting a crane can be costly, it is significantly less expensive than constructing a new roof from the ground up.
Key Insight: Although if your roof is old then it is advised to replace it altogether. In most cases, you can only reuse the joists and frame of the roof and not the roofing material itself.
The entire second-floor addition cost for these types of house extensions could be roughly half that of a traditional ground-level addition of the same size if the additional rooms are simple spaces and affordable finishes are used.
The cost of constructing a second-floor extension is typically between $100-$300 range per square foot. Depending on the quality of the materials and the complexity of the job, it can cost up to $500 per square foot. Rather than just adding a room, a second-floor addition usually entails adding a full level to your home.
And if you are adding a modular floor the cost may be around $25 per square foot.
It's usually not a good idea to add a whole room to a modular home because the structure might not be able to hold it.
However, when it comes to your budget, It's a good idea to see how much you can spend on a makeover. Then you may start hiring local contractors to receive an estimate based on the size of your home, location, and other factors.
Make sure to inquire about the cost of adding on specific features that you desire, such as a full bathroom, specified finishes, and so on.
Consider if you'll fund the project with cash on hand or by taking out a loan from a bank or mortgage business.
Be aware that this project will take a long time to complete. For example, the time from hiring an architect to start building can take anywhere from four to six months.
The discussions themselves can take a long time, and that's just figuring out the project's technicalities.
Then you should expect at least five months of construction time. You will need to find a place to live while it is being completed. This entails moving out of your home and renting a residence for at least five months.
So, we cover the options of how to build a second floor to your house and how much it may cost you. Here are the 8 tips you must consider when adding a second floor.
1. Your current ceiling and may not be robust enough to act as a floor for your new story. Early on, enlist the help of professionals to examine any potential problems.
2. Consider where you'll reside throughout the renovations if you're adding a second floor. It may be impossible to stay in your home, especially if you have children. Staying with friends or relatives can help you save money, but it isn't always possible.
3. Ensure that access to the second story (the new stair set) is simple and that the conversion blends in with the rest of the home's design. Further foundational support could also be necessary.
4. Prepare for any unanticipated concerns that must be addressed before the planned work can begin. Renovations are generally more expensive than new construction since you never know what has been done before the work is exposed.
5. Some homes were not built to support the weight of a second floor, necessitating the addition of costly steel constructions. However, if well planned, it can still be a beneficial investment. Adding room upwards rather than outwards onto precious land and garden can add a lot of value to a home, especially if there's the possibility of a great view.
6. Contractors typically find it difficult to provide definite pricing for large-scale improvements. The majority of craftsmen will provide an estimate and then work will be done on an hourly basis.
7. Take advantage of any available dead space, making sure it's tailored to hold specific goods.
8. Choose a licensed builder; if they aren't, they should be working under someone who is. Contractors with large or small businesses should be covered; inquire about your contractor's insurance coverage.
Extra Advice: It's a good idea to check with your local government's zoning office to see if you may build a second floor. The height of a structure is often limited by zoning rules. If other nearby houses have second floors, you should be able to build that high as well, but it's always wise to double-check.
A home remodeling project rarely runs smoothly from start to finish, especially one as substantial as adding a second floor.
Prepare for the frequent mistakes that occur with building up to assist avoid costly setbacks and unpleasant shocks.
Miscommunication with the builder - When a builder isn't upfront with the homeowner or there's a miscommunication, the homeowner's expectations may not match what is provided by the builder.
Not having a strong foundation - A single-floor home's foundation may not be strong enough to sustain another floor. So, better hire a structural engineer to assess the existing house to see if it's robust enough to support the increased weight before you start building.
If not, beams, walls, the slab, and other supporting parts may need to be strengthened or rebuilt, thereby increasing the project's cost.
Not keeping the moisture out - Although your contractor should have the area covered with tarps to help keep moisture out while the roof is removed, there is always the chance that rain or snow will compromise the interior of the property.
Not making good plans for the new staircase - A second floor is only functional if it can be reached easily, which necessitates the usage of a staircase.
This can be difficult if the first-floor layout does not allow for enough open floor space to accommodate a staircase. To save money and save floor space, some homeowners choose to build the staircase outside the house.
Choosing a contractor to work with is by far the most essential decision you'll make during this process, so choose wisely. Adding a second floor is a big job that requires a lot of skill and precision. You should check out the company's reputation.
You may find reputable contractors in any area, but be sure they have the necessary remodeling and construction licenses and certifications.
A reputable contractor will spend the time necessary to thoroughly discuss the project with you and obtain a thorough grasp of your requirements and expectations. They should also be honest about pricing and not tack on any extra fees.
The role of executor is typically not one that is highly envied or sought after. Nevertheless, an executor's job is extremely important in handling the estate of the deceased, and there are many responsibilities placed on the executor's shoulders.
One of those many responsibilities is selling the property of the deceased individual. How much time does the executor have to sell the house?
Unfortunately, there's not a direct answer that we can give because there's not a universally set time limit. There are many factors that play into how much time an executor has to sell.
Luckily we're going to talk about the process and inform you so you know what to do when you find yourself in the position of executor.
The executor, or executrix (a term that is used to refer to female executors), is responsible for handling all the affairs of a deceased person.
Before an individual dies, he or she declares an executor in their will who is in charge of settling what is done with his or her estate. After their death, the executor conducts business on their behalf.
The business of the estate involves many various tasks and things to be settled. Here are just a few of the many important responsibilities the executor bears:
The very first document that needs to be submitted by the executor to the court is the deceased person's will. This will set the process in motion and the executor will then be able to carry out their duties.
Without a will, the process becomes much more complicated. Because there are no instructions left behind, many decisions will be left up to the court and the state laws.
This can create a lot of tension amongst the heirs of the estate. Some might think that their loved one wanted something to turn out differently, but without a will, there is no way of knowing that. Hurt feelings can result from the outcome of the distribution of the estate.
Bottom line: If there is a will, submit it quickly to the court.
When a person has passed, it is not broadcast to all people or personnel who need to know. The responsibility of notifying others of a person's passing is another responsibility given to the executor.
Among those who need to be notified of the decedent's passing are many services, benefits, subscriptions he or she was receiving, as well as the Social Security Administration.
Another one of the first items of business should be to set up a bank account for the estate.
It is difficult to oversee someone's estate if assets are spread out and hard to find, so it helps to gather them.
Once the bank account is established, it will make the process of handling the estate easier since all funds will be located in one place. The probate process can then be funded by that account.
Filing an inventory of the assets can be one of the toughest jobs given to the executor.
Assets may or may not be mentioned in the will, which means that there could be others lying around that the executor needs to gather.
The decedent might have other assets that they either acquired after the will or simply forgot to mention in the document.
It is crucial for the executor to locate all the assets so that they can pay any dues necessary and then equally distribute the wealth among their heirs.
Once a decedent has passed on, they are not exempt from paying their debts and taxes.
Using the money from the bank account previously set up, the executor pays for any remaining debts and taxes that the person they are representing owes.
After debts and taxes have been paid for, the remaining assets are given to the heirs. An executor distributes the assets according to how the decedent directs, and it is important to follow what is stated in the will in order to avoid quarrels and upsets over how the assets are divided up.
After submitting the will to the court for review and approval, the executor should apply for probate to begin the process of settling the estate.
Keep reading to learn more about what exactly probate is and why it is important to the timeline of an executor selling a house.
Probate is an important process and it is a major factor in the timeline of an executor selling the property.
The executor should meticulously keep correct records of all the proceedings after the deceased person has passed. It is important to write down everything that happens with the estate so that everything is accounted for.
If anything comes into question during the processor in the future, the record that is kept will stand as a witness for what happened and what actions were taken with the dealing of the estate.
If this seems like a little too much for the executor to handle, then it would be wise to hire an attorney for legal advice and to assist with the process of settling the estate.
In fact, for peace of mind, we recommend and encourage hiring an attorney to help with the process. The attorney will be more familiar with the local laws and regulations of the state which will make the process much easier for the executor.
The short answer is the legal procedure that occurs after the death of your loved one to provide proof of their will.
The long answer: the will is "proved" in a court of law and to be accepted as a valid public document. To determine that is the true last testament of the deceased person, or whereby the estate is settled.Ã
Since probate is the process of settling the deceased's estate, there are many tasks that fall under that umbrella.
During this procedure, the court authenticates the will of the deceased and will also approve the person named as executor in the will. They will also account for all of the assets and evaluate their worth.
After these tasks have been accomplished, the assets are used to pay off the taxes and debts that the deceased person owes. Then, the assets are distributed among those individuals that are declared as heirs.
Probate is just the legal process to oversee that the process of distributing the estate is performed correctly.
It depends on factors such as:
Other factors could be if the beneficiaries choose to be civilized and cordial or if there are multiple wills found that don't specify which one to enforce.
Whether all beneficiaries will agree with the outcome of the estate could also potentially extend the duration of probate.
The length of probate can vary widely between different estates.
Insight: It is not uncommon that the beneficiaries often bicker over what is fair and what is not. This is the number one issue that drawls out a probate process.
The cost of the probate process will depend on a variety of factors:
Keep in mind: you may also be liable for hourly fees when communicating with your attorney.
Let's say a close friend or relative of yours has just died and you have been named the executor. Among the long list of duties you have placed upon your shoulders, one of the duties is to sell or otherwise distribute the property of the deceased.
A few questions you have might be:
If you determine that the house should be sold and the profit redistributed among the heirs, the house of the deceased person needs to be sold before probate has been closed by the court.
This sounds very simple in theory, but in reality, making sure the property is dealt with can be a long and stressful process.
The time limit of probate often varies from case to case ranging from a couple of months to many years.
This large range is due to a variety of factors. There could be complications with settling the estate, disputes by beneficiaries as to who should inherit certain assets, and when all the results of what will be done with the estate have finally been decided.
When it comes to being in charge of the decedent's property, an executor has a few key responsibilities.
The first responsibility is to ensure the safety of the property. A few suggested ways to do this are to possibly change the locks on the house, make sure that there is adequate insurance to cover the property, and secure any and all valuables that belonged to the person who passed.
Next, the executor needs to list the house for sale. It is generally recommended to go ahead and list the house on the open market
It might be wise to hire a realtor to help with selling the home. Since inherited homes are a little different, there will be some unfamiliar paperwork that you'll have to fill out.
Other than that, the rest of the home selling process should be like most other average home sales.
When the house is sold, the court needs to approve the sale. In some cases, only the signature of the executor is needed to move forward. Sometimes, however, signatures of other beneficiaries are required in order to move forward with the sale.
Once sold, the executor will collect the money from the sale. The money can be deposited directly to the executor if they are the only beneficiary, but if there are other beneficiaries, then the money is distributed between them.
Anyone who has previously dealt with the death of a loved one likely understands the necessity of a will. There are countless reasons you should have a will, from easing the burden on your family to preventing feuds over your estate.
A will offers clarity and prevents unnecessary confusion over who's in charge and who does or does not inherit certain assets.
If an executor is not named, then the court decides who will be appointed as the executor.
If there is no will found after the death, then the state distributes the property and assets to the next of kin of the deceased.
The order of relatives who can inherit some of the individual's estate varies between states, which is why a will is a key to establishing what the deceased person desires instead of it being left up to the state to decide.
In the case of selling a house, everyone involved in the estate will be much happier knowing that someone the deceased person knows and trusts is in charge of the property rather than the local court and state's laws.
Besides taking care of your assets and liabilities after you pass, there are numerous reasons why creating a will to be used after your death is the desired choice.
First, a will is very easy to make, so it wouldn't be too much of a hassle to create one.
A will can also offer instruction for your heirs as to what they should do with your digital asset. Digital assets can include online accounts and digital files or property.
You can let them know if you want accounts closed or given to someone, or you can distribute your digital assets.
With a will, you can also choose to support certain causes with your financial assets. By taking action like that, you can leave a legacy for years to come.
The very best reason to create a will is for the peace of mind that it brings. The lives of your family and friends won't become pure chaos when you pass away. They will love you that much more for leaving them instructions instead of them having to guess what to do.
There are many responsibilities that come with being the executor, but with the right preparation, help, and resources this job can be made a little easier.
When you find yourself being called upon to step up as the executor for a decedent, you can take courage with the knowledge you have gained about the process of settling the estate. If you are an executor and you are wondering if you can sell the house to your self then check out this post.
This is a go-to guide for agents, investors, or first time home-buyers when they are confused on certain real estate terms. This guide is not limited to just Alabama but has a broad application across the United States as a whole.
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