Building an interior wall in your home can serve many purposes, both for your own functional use and to increase your home’s value. By some estimates, adding a partition wall to create an additional bedroom can boost your home’s resale value by 15%. To decide whether the value is worth the cost to build a wall, you’ll need to first determine how much it would cost to build a wall and calculate the benefit of having an additional room.
So, how much does it cost to frame a wall? The answer depends on a number of variables that can drastically affect the final price tag. If you’re contemplating this project, it’s important to do your research and learn more about adding a wall to a room, ways to save money and how to finance your home renovation project.
The cost to build an interior wall
When estimating the cost to build a wall, you’ll have to take several factors into account. These include the overall size of the wall, how it’s built, and any modifications that need to be made, such as the addition of doors or windows.
Wall size and thickness: The biggest factor influencing the cost to build a wall is the size of the project, including length, height and thickness. The average cost of an interior wall can be anywhere from $3 to $10 per square foot. To calculate the size of your wall in square feet, simply multiply the length of the desired wall by the ceiling height. You’ll also need to know how thick the wall will be. This typically ranges from 2.5 inches to 6 inches. The thicker the wall, the more expensive it will be, but if you try to cut corners by going thinner, you’ll have insulation and sound protection between rooms.
Type of framing: The cost to frame a wall is also a factor in determining the final price of adding a wall to a room. This requires more advanced construction knowledge that should be left to your contractor, but different framing types, the spacing of studs and whether or not any corners are included are all elements to consider.
Windows and doors: The cost to frame a wall will usually increase with each window or door that is added. This is because the studs that support the wall structure must be taken out and the weight redistributed to make room for each opening. If you’re adding a bedroom, you’ll probably need at least one door, which will cost more. Installing a partial wall between a kitchen and living room with no opening will typically be cheaper.
Materials used: What will your wall be made of? Interior walls often consist of some combination of wood, plaster, drywall, insulation, steel and more. If you choose a custom finish, like brick, cork, tile, glass or metal, your costs will most likely go up. Additional decorative features such as fancy trim will only continue to drive up the price. A good contractor can help you choose the best wall materials for your budget.
Electrical work: Most – if not all – of the walls in your home contain some sort of electrical wiring, which powers your outlets and lighting. DYou may have to hire an electrician depending on the complexity of the electrical work needed, which can easily increase the cost to build a wall.
Reasons to add an interior wall
There are many reasons to a wall to a room, including:
Creating an extra bedroom
Adding ahome office
Separating a kitchen and living or dining room
Finishing a basement
Tips to save on building an interior wall
You may start out wondering to yourself, “how much would it cost to build a wall?” and now you’re thinking, “how can I save money on my new wall?” It’s natural to want to reduce costs when faced with the sticker price of a major home renovation project. It’s important to remember that this is an investment in the value of your home, so you shouldn’t cut corners to the point that the final product is negatively affected. However, there are a few ways that you can bring the cost down without sacrificing quality.
It’s probably not wise to DIY an entire interior wall, but you might be able to complete some of the project yourself. Consider hiring professionals to handle the necessary permits, construction and electrical work, but put the finishing touches on yourself. For example, you might be able to paint the wall yourself, and installing your own trim isn’t too difficult if you have a bit of experience fixing things around the house.
At the end of the day, the best way to save on the cost to build a wall is by choosing your materials wisely. Ask your contractor which materials cost less and keep customizations to a minimum.
You should also shop around to get different quotes for the work, but remember that cheapest may not always be best. You’ll want to get the best work for the lowest price, not the other way around.
Financing options for adding an interior wall
Even the most basic interior wall construction will likely cost in the thousands of dollars, and not everyone has that kind of money lying around. But there are still plenty of ways to finance the project. These three financing options are more accessible than you might think and could all be great sources of funds, depending on your personal circumstances.
When you apply for a personal loan you’re approved and given an interest rate based on your credit score and financial information. Personal loans are unsecured, which means you don’t need to put your house up for collateral. They’re also easy to come by – most financial institutions offer them, and they’re even available online – and funds are made available, sometimes deposited in your account in as little as 24 hours.
A personal loan is a great way to finance a wall addition if you have a great credit score or if you don’t have much equity in your home. You can use a personal loan to finance either all or part of an interior wall project, depending on how much cash you have available.
Home equity loan
A home equity loan is a lump sum loan that is borrowed against the equity in your home and is commonly referred to as a second mortgage. The cost to build a wall is an investment in your home’s market value, so this type of project is a great example of what a home equity loan is perfect for.
You should choose a home equity loan if you have an accurate estimate of the total interior wall project cost and are confident in your ability to repay the loan on time, as failure to do so could result in home foreclosure. Keep in mind that this type of loan is only an option if you have sufficient home equity to borrow against.
Home equity line of credit
A home equity line of credit, or HELOC, is unique in that you’re given access to a line of credit that you can borrow from up to a certain amount rather than a lump sum. You only need to repay and pay interest on the amount that you actually end up taking out, and you can borrow against your HELOC multiple times as needed. This line of credit is secured against your home, so you must have enough home equity for the bank to approve the line of credit.
You should consider a HELOC if you’re not sure how much your new wall will cost or if you don’t know how much of the project you’ll be able to pay out of pocket. You may also find that interest rates with a HELOC are lower than other financing options, which is an added bonus.