re: adding on vs. buying a new house

How much more space do you need? Does your existing house have decent bones? I always want to own the cheapest house in the neighborhood--so if I were surrounded by expensive houses, I would NEVER bulldoze and start over. I'd focus on adding a minimal amount of square footage & upgrading the finishes. Bigger is not better if you're living in a 2500 sq ft box with crap finishes while everyone around you has luxe stuff; that will also make it harder to sell the house later on.

Make a list of what you want to add & what you don't like about your present house; get your spouse to make a separate list. Then get together and see where your lists overlap. Storage space, garage, family room, open kitchen, what's not working about your present house? Again, bigger isn't always better....getting just want you want and need is far more homey/cozy than upgrading to the McMansion next door.