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Old 02-05-2011, 08:48 PM
 
7,658 posts, read 15,930,120 times
Reputation: 1283

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Quote:
Originally Posted by Pequaman View Post
Definitely, custom built for $100k - $200k is well worth it. You'll add that plus more in equity instantly. I've seen people do this and add $350k in value to their house. The cost will depend on what you want of course. You could do the basics and get away with a nice addition for $120k or go extravagant and spend up to $250k. The new bathroom(s) will swing the cost the most depending how basic or glamorous you'd like them to be.
Your taxes shouldn't come close to doubling like crooks is suggesting. Unless you go bananas and put like 3 extra baths and 5 more bedrooms. Average is likely a 25%-50% increase in taxes.
Why do you put words in my mouth?

Reread the thread.

Apology accepted.
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Old 02-05-2011, 08:52 PM
 
Location: Massapequa Park
3,173 posts, read 5,553,888 times
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Quote:
Originally Posted by Crookhaven View Post
Why do you put words in my mouth?

Reread the thread.

Apology accepted.
oops, thanks. I saw the posts by you, didn't see the handle of that post.
edited
friends??

yoiu'll be back west in a beater b4 you know, building a crookmansion
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Old 02-05-2011, 08:57 PM
 
7,658 posts, read 15,930,120 times
Reputation: 1283
Quote:
Originally Posted by Pequaman View Post
oops, thanks. I saw the posts by you, didn't see the handle of that post.
edited
friends??

yoiu'll be back west in a beater b4 you know, building a crookmansion
Just bustin chops.

Nobody really knows for sure when it comes to taxes.

Thankfully were fairly low taxwise here.I could double up but we'll most likely just move to West RP when ts time.

The crookmansion MBR would have a full Soundview if I went up so I am tempted.
We'll see.I just dont feel like camping with a mortgage.

Crooks
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Old 02-05-2011, 09:19 PM
 
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People I work with did it for 70K. We were quoted around 35K for an unfinished upstairs (~700ish sqft) with some additional exterior additions added for good measure. Finished prices were 55-90K, depending on contractor and what they were thinking of doing (lots of them padded our original idea, the lower quote was with us buying bathroom fixtures/tiles).
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Old 02-05-2011, 09:35 PM
 
7,658 posts, read 15,930,120 times
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Quote:
Originally Posted by SilverBulletZ06 View Post
People I work with did it for 70K. We were quoted around 35K for an unfinished upstairs (~700ish sqft) with some additional exterior additions added for good measure. Finished prices were 55-90K, depending on contractor and what they were thinking of doing (lots of them padded our original idea, the lower quote was with us buying bathroom fixtures/tiles).
Thats pretty good.
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Old 02-05-2011, 09:50 PM
 
9,341 posts, read 24,207,191 times
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looking for the perfect house... is an earlier thread on this subject.
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Old 02-05-2011, 09:54 PM
 
9,341 posts, read 24,207,191 times
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Cost of adding second floor to ranch? is another previous thread on this subject.
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Old 02-05-2011, 11:16 PM
 
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Quote:
Originally Posted by Crookhaven View Post
Thats pretty good.
Yea it wasn't too bad, and contractor prices have come down a bunch since we inquired. Might be able to get a soup to nuts addition for <75 now.
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Old 02-06-2011, 12:29 PM
 
464 posts, read 1,006,291 times
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Quote:
Originally Posted by Crookhaven View Post
Then it makes sense especially if you bought a beater.

Yeah mine was definitely a beater. lol

You are going to have a very hard time finding soup to nuts for only 75k. The problem is a lot of contractors have gone out of business so prices have actually creeped up since there are less contractors out there.

And then do you really want to go with the cheapest guy around? Could lead to BIG problems.

I am lucky I found somebody that isn't bad and is actually doing a decent job. I did a side extension in my last house so I had some experience with how to deal with contractors.

I am also a financial savvy person so I was well aware of real estate values and I made sure I bought in to a neighborhood that could support building this type of dormer. My house was in the 400k. Some houses are selling in the 600-700k range. So i knew that if I pumped the money in to my house and built it up, i'd get instant equity.

Besides, many people buy houses and spend 50k easy on "renovations" that in the end really don't appreciate the value of their house. The 250k I put in to this house I should get basically all of it back. And if I don't, like I said EVERYONE pumps money into their house one way or another. Not a big deal.
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Old 02-06-2011, 01:42 PM
 
2,852 posts, read 2,769,711 times
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I don't know about that. Personally, I try to avoid dormered homes and ranch-extensions when I'm looking. You just never know about the quality. And for 600-700K unless you have some major property that house better be spectacular for me to look at it. No Home Depot molding specials, so OSB, no PEX tubes, and the breaker box better be spotless.
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