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MrsD

08:05AM | 02/21/01
Member Since: 01/31/00
76 lifetime posts
Bvmisc
I am hoping someone may be able to help me. We have a home that we are thinking of either selling or adding on. We are in need of another bedroom badly. We would not be ready to add on for about 1-2 years from now if we go that direction. My question is should I get some contractors out here to give me a few estimates? I guess I want to know if we should make improvements to the exisiting house and sell it as it is, or add on. We want to start on improvements this summer, but don't want to go to the expense if we are going to add on. Any advice would be greatly appreciated. Also, is there a way to find some good contractors in our area and how do I go about finding them?
Thank you!

rpxlpx

10:19AM | 02/21/01
Member Since: 03/13/00
1675 lifetime posts
In our area there is a home builders association and a remodeler's council. They can help you find a reputable company (though nothing is guaranteed.)
As to whether it's better to move or to add on, there are many factors to weigh. Cost is just one. Things like: do you plan to retire and live there "forever" or move on pretty soon? How much equity do you have in the current place? How are the taxes where you are, versus where you would be? Schools, shopping, proximity to work, relatives? How much other repair does the current place need to keep it together?
etc.

[This message has been edited by rpxlpx (edited February 21, 2001).]

MrsD

10:00PM | 02/21/01
Member Since: 01/31/00
76 lifetime posts
rpxlpx...we like our area and plan to either stay here or move somewhere close. I have considered the factors you mentioned. I guess I just wondered if it would be pointless and premature to get some estimates on what we want and need to do. We are capable of making some improvements ourselves, but not expanding. Our family has grown by one more and we will need another bedroom within 2 years. Our home has been added onto by previous owners and it is sort-of odd shaped...sort of like a "Z" shape. If the addition we would need to do and our mortgage balance doesn't compare to what we could purchase in our area, then I imagine it would be better to sell our existing home. Like I said before, I was just wondering if it would be pointless to do this. We have some improvements that we want to make this summer if we sell it, but if we decide to add on...then we want to wait. Hopefully this clarifies my predicament a little better. Thank you for your response!

david_wv

02:09AM | 02/22/01
Member Since: 01/28/01
171 lifetime posts
Weighing conveniences versus pains may help. Adding on would involve destruction of at least part of a wall plus tearing up part of the yard. Or, if you're adding a story, risking being without part of your roof. You are subject to the dedication of the contractor to your project. We've all heard tales of contractors getting half done, then not returning for days.

Moving would involve selling your house. Keeping the house neat while raising kids, leaving for showings on 5 min warning, etc. I just moved and it cost me on the order of $12,000 in commissions and other fees. Can you afford to pay two mortgages? Otherwise you may have to move somewhere temporarily between selling the old and buying the new.

MrsD

07:34AM | 02/22/01
Member Since: 01/31/00
76 lifetime posts
David...Thank you for your response. I hadn't really thought about the expense of selling our home, short of the repairs that we would want to make before we did that. Like I said before, though, would I be premature in getting a few estimates from some contactors? I could more accurately weigh the pros and cons with a little more information. I do realize that an estimate is just that and that costs will change 2 years from now. I guess I was just thinking that it might help me to get a closer idea as to what we might be faced with...and what would be most practical. The addition would involve the destruction of one room, an addition in a different area of the house, and possibly going up...if it is even feasible. I thank you for your input!!!
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