How much does an addition really cost?

[Gabriel Fairman]

My wife and I recently purchased a single family home that we plan to live-in-flip. I'm in the military so we will be moving in a few years and we plan to rent or sale it after that. Its a two bedroom/ one bath. I've been interviewing general contractors that seem to be charging entirely too much. Which has led me to ask, "How much does a renovation really cost?" I just want to add an additional bedroom and bathroom (a master suite). How much is that? I understand that I'll pay a premium because I live in Los Angeles but it just seems though the prices are extremely high. I watch a lot of flip shows and it seems that they are quoted a lot lower. 

[Loren Becker]

Hi Gabriel,

Thank you for your service!

Pulling an owners permits you can expect to be in the $175 to $200 per sq foot range.  If you are choosing very nice finish material the price will go up considerably.  

Hiring a draftsman verse and architect and/ or structural engineer with also help to save a ton of money.  You can typically find them around the building department passing out cards flyers etc.  Get several quotes and find someone you can relate with.

If you are going to save money you will need to get involved searching for contractors that deal with investors.  Typically you can find these trades by driving neighborhoods and taking note of the homes being renovated get out and talk to the crew to find the person who is running the job.  

The general contractors that are doing room, kitchen, and bathrooms additions are retail. You can spot these by really nice lifted trucks with big tires they provide white glove service with expensive pricing.

Good luck!

you can PM me if you want further info.