Hello, newbie here...
Need some insight on a remodel.. I am in the process of maybe buying a brick ranch, and would like to add another floor, for value.
I have enclosed the pri. points. 1940 build
all area used except for slab B
Want to add 2 bedrooms, master bed/bath and staircase, plus chimney extention.. I just want everything done, except wiring, plumbing, drywall. ( most finishing work )..
With that much space, what kind of price could I be looking at for this project, just rough estimate..
I'd guess $100,000.00
This is just a guess.
OK, thanks Big Dave, thats about what I figured too..
$100,000 purchase price, can get about $300,000 after everything I have planned..
Ummm, I have to think..
I think I would walk away.....a home built as a single story may take a lot more then you suspect to contain a full second floor....you hate to demo the roof and find out you didn't have enough walls and headers for the loads and a building inspector who cares little about your budget, but will ruin your day/week/month.
A home that is lower priced on the market can allow for such a project to work with an appropriate financial return.
As Joasis stated:
However, the sad reality is that, to do an expansion like that can start at $100,000.00, easily go to $200,000.00 - and grow even beyond that by the actual completion of the project.
These are just realities of remodeling. This may not be the case with your situation, but it gives you something to think about.
Additionally, the home may or may not be able to meet approval for such proposed added living space. First step would be to check with the town about that...
I fully understand your answers fellas, thanks.. As far as this house, I forgot about it mentally, as I have found another.. Yes, after crunching the numbers, it's a pipe dream.. I think I liked the land, but that is done and over..
PS.. I have found a nugget
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