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When does it make sense to expand your current home?
Posted on 7/10/18 at 7:36 am
Posted on 7/10/18 at 7:36 am
I bought a recently flipped house in Metairie in 2015 for $209,000 when it appraised for $214,000.
2 bed 2 bath 1400sf with huge front/back yard and carport
It was perfect for me at the time but now married and talks of future kids, we have been looking at new houses for about a year and haven't found anything close.
Does expanding a current updated house make sense if the lot is big enough and we like the location?
Mainly need more room/storage. Would like to go from 1400sf to 2200 sf range.
2 bed 2 bath 1400sf with huge front/back yard and carport
It was perfect for me at the time but now married and talks of future kids, we have been looking at new houses for about a year and haven't found anything close.
Does expanding a current updated house make sense if the lot is big enough and we like the location?
Mainly need more room/storage. Would like to go from 1400sf to 2200 sf range.
8
Posted on 7/10/18 at 7:55 am to tiger10lsu
How strong is your marriage? Lots of divorces come from major home repairs/ builds.
If the property (land) isn't located at a spot you can't recreate, it is better to move than renovate. It also depends on the current house's design. Some homes can't easily be expanded and when that happens, it is cheaper to demo and rebuild.
If the property (land) isn't located at a spot you can't recreate, it is better to move than renovate. It also depends on the current house's design. Some homes can't easily be expanded and when that happens, it is cheaper to demo and rebuild.
Posted on 7/10/18 at 8:27 am to tiger10lsu
2BR/2BA 1400 sq ft for over 200k??
Holy shite balls. How big is this "nice property"? And when you say carport, does this mean no garage too?
Also, when you say "flipped property" how old is this place?
** Note that I'm not familiar with Lousiana property, so these are just surprising numbers.
Holy shite balls. How big is this "nice property"? And when you say carport, does this mean no garage too?
Also, when you say "flipped property" how old is this place?
** Note that I'm not familiar with Lousiana property, so these are just surprising numbers.
Posted on 7/10/18 at 8:34 am to wickowick
quote:
Lots of divorces come from major home repairs/ builds.
Are people that fickle?
This post was edited on 7/10/18 at 8:36 am
Posted on 7/10/18 at 8:38 am to tiger10lsu
Just curious as to why the expansion needs to be so much. You could bump up to 1800-2000 sq ft and easily add a third bedroom and a storage closet. Obviously layout is important.
We currently have 2100 sqft with three bedrooms, two bath and two living areas with a lot of storage. We are in a similar situation where it is two of us and thinking about expanding our family.
To answer your actual question, it is hard to say. How big of a lot are we talking?
We currently have 2100 sqft with three bedrooms, two bath and two living areas with a lot of storage. We are in a similar situation where it is two of us and thinking about expanding our family.
To answer your actual question, it is hard to say. How big of a lot are we talking?
Posted on 7/10/18 at 8:39 am to tiger10lsu
One thing you'll want to consider is the current structural condition of your home.
I considered adding on to my house in Metairie, but it was poorly built (rebuilt by the owner post Katrina due to no flood insurance) and adding on to it would have been a gamble I wasn't comfortable taking.
You're also going to want to consider the cost of construction vs the added value. I've read that it costs more to add on than to build new, so you'll want to make sure the value is there for you to do this.
I considered adding on to my house in Metairie, but it was poorly built (rebuilt by the owner post Katrina due to no flood insurance) and adding on to it would have been a gamble I wasn't comfortable taking.
You're also going to want to consider the cost of construction vs the added value. I've read that it costs more to add on than to build new, so you'll want to make sure the value is there for you to do this.
Posted on 7/10/18 at 8:41 am to Paul Allen
quote:
Are people that fickle?
Have you ever attempted any project ever with any woman ever?
Posted on 7/10/18 at 8:44 am to AUjim
Absolutely. And guess what? We fight but later make up and realize what we are fighting about and try to become better people through it. Perhaps doing a project is a litmus test for any marriage?
Posted on 7/10/18 at 8:44 am to tiger10lsu
quote:
Does expanding a current updated house make sense if the lot is big enough and we like the location
The main thing you need to think about is that after the additions you don't want a 350K 2200 sq.ft. house in the middle of a bunch of 210K 1500 sq.ft. houses.
Posted on 7/10/18 at 9:54 am to AUjim
quote:
The main thing you need to think about is that after the additions you don't want a 350K 2200 sq.ft. house in the middle of a bunch of 210K 1500 sq.ft. houses.
That would be my main concern....being overbuilt for the neighborhood.
That said, I'm in the smallest house in my neighborhood. I could easily add a bonus room in the attic, with room in a hallway/closets to add a stairwell. I'd definitely consider adding square footage because it would bring me up to the median for my area...since I'm already on the lower end.
Another thing to consider--rather than adding sq footage, can you simply reconfigure your existing space to be more liveable without expanding the footprint? Choppy rooms, odd layout, etc can cause any sq footage to feel cramped. A small layout change or tiny expansion into a carport or garage can vastly improve liveability without a major expansion.
Posted on 7/10/18 at 10:09 am to tiger10lsu
I added a second floor to my Metairie house, loved the location and I have an over sized lot. I did get a structural engineer to look at the foundation to make sure the integrity was there. I added just under 1,000 sf to the house, our house is probably the second biggest on our block but the wife and I plan on staying there for the long haul. I added all the kids bedrooms upstairs with a bathroom and an office that could serve as another bedroom.
Like was said before do not over build for your neighborhood if you are looking to leave in the next 5-10 years
Like was said before do not over build for your neighborhood if you are looking to leave in the next 5-10 years
Posted on 7/11/18 at 12:06 pm to Paul Allen
quote:
Are people that fickle?
we are adding 2 bathrooms onto our home. it has been pretty stressful on our marriage. My wife complains non stop about the construction, granted they are two months late on the remodel. But complaining won't make them go any faster.
Posted on 7/11/18 at 12:13 pm to momentoftruth87
quote:
2BR/2BA 1400 sq ft for over 200k??
Holy shite balls. How big is this "nice property"? And when you say carport, does this mean no garage too?
Also, when you say "flipped property" how old is this place?
** Note that I'm not familiar with Lousiana property, so these are just surprising numbers.
Umm, that's only about $150 per sq/ft?
Posted on 7/11/18 at 12:54 pm to tiger10lsu
quote:
When does it make sense to expand your current home?
When there are houses in the neighborhood and area that would support a higher value at the larger square footage. It is never, ever a good idea to be the king of the block when it's time to sell.
Posted on 7/11/18 at 5:19 pm to AUjim
quote:
The main thing you need to think about is that after the additions you don't want a 350K 2200 sq.ft. house in the middle of a bunch of 210K 1500 sq.ft. houses.
That depends on the neighborhood, if the area is highly desirable then having the house next door worth half as much or less doesn't seem to make any difference. around here there are many areas with $225K to $700k-800k houses on the same street.
This post was edited on 7/11/18 at 5:21 pm
Posted on 7/11/18 at 5:58 pm to tiger10lsu
quote:
When does it make sense to expand your current home
When you have the comps and the equity to support the addition
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