Does a Basement or Second Story Cost More?

If you are considering a basement or second story on your custom home, you may be wondering which costs more. The experts at Choice Builders provide some answers.

That Depends on Market and Current Material Prices

This question gets asked a great deal and the answer is driven by the market and current material prices. Generally speaking, building up tends to be less expensive than a basement. That said, not too long ago, lumber was at an all-time high and basements were the better option. Check with your builder and they can advise you on the pros, cons, and cost of each.

If it’s a brand-new build, building a basement can be less expensive than building a second story, depending on the specific location and other factors. A basement can be added during the initial construction process, with the foundation and walls already in place, while a second story would require additional load-bearing structures to be built. However, the cost of a new build can be much higher than a remodel, especially if it requires excavation, foundation and also the cost of the land. It’s important to have a detailed cost analysis and to compare the costs of both options before making a final decision. Factors such as zoning laws, the local building codes, and the cost of the land would be considered.