diff --git a/activerecord/lib/active_record/connection_adapters/postgresql_adapter.rb b/activerecord/lib/active_record/connection_adapters/postgresql_adapter.rb
index a348318..d4b280d 100644
--- a/activerecord/lib/active_record/connection_adapters/postgresql_adapter.rb
+++ b/activerecord/lib/active_record/connection_adapters/postgresql_adapter.rb
@@ -809,11 +809,21 @@ module ActiveRecord
         default = options[:default]
         notnull = options[:null] == false
 
-        # Add the column.
-        execute("ALTER TABLE #{quote_table_name(table_name)} ADD COLUMN #{quote_column_name(column_name)} #{type_to_sql(type, options[:limit], options[:precision], options[:scale])}")
+        # Attempt to add the column with default and null specified in one go
+        sql = old_sql = "ALTER TABLE #{quote_table_name(table_name)} ADD COLUMN #{quote_column_name(column_name)} #{type_to_sql(type, options[:limit], options[:precision], options[:scale])}"
+        sql += " DEFAULT #{quote(default)}" if options_include_default?(options)
+        sql += " NOT NULL" if notnull
+        begin
+          execute sql
+        rescue ActiveRecord::StatementInvalid => e
+          raise e if postgresql_version >= 80000
 
-        change_column_default(table_name, column_name, default) if options_include_default?(options)
-        change_column_null(table_name, column_name, false, default) if notnull
+          # Doesn't support default and null specification in alter table, do the old way
+          execute old_sql
+
+          change_column_default(table_name, column_name, default) if options_include_default?(options)
+          change_column_null(table_name, column_name, false, default) if notnull
+        end
       end
 
       # Changes the column of a table.