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Hi! So there are some homes that are small ranches and my fiance and I think that if we were to buy a house like this, in the future we could possibly build upwards and add on a 2nd floor. Any ideas how much this would cost? I have seen several small ranches with a 2nd floor extension.
Thanks, if anyone has any knowledge about this! :-)
Hi! So there are some homes that are small ranches and my fiance and I think that if we were to buy a house like this, in the future we could possibly build upwards and add on a 2nd floor. Any ideas how much this would cost? I have seen several small ranches with a 2nd floor extension.
Thanks, if anyone has any knowledge about this! :-)
*Also, would this drastically affect taxes?
I dont think it pays.Unless youre waterfront or something.
I just did this. Start at 125k. I am spending close to 250-300k when it's all said and done because I gutted the entire first floor and am going crazy expensive on a lot of upgrades. I am going to have one of the jewels in my neighborhood though so it is worth it. House is going to be awesome when it's finished. I'm expecting my taxes to go from 10k to about 15k. They aren't going to double.
I just did this. Start at 125k. I am spending close to 250-300k when it's all said and done because I gutted the entire first floor and am going crazy expensive on a lot of upgrades. I am going to have one of the jewels in my neighborhood though so it is worth it. House is going to be awesome when it's finished. I'm expecting my taxes to go from 10k to about 15k. They aren't going to double.
In old Bethpage there is actually a big price difference between the one story ranches and the larger colonials. Like 150-200k easy.
For that price I'd rather buy the beater of a house and demo it and build it the way I want to.
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. Unless you go bananas and put like 3 extra baths and 5 more bedrooms. Average is likely a 25%-50% increase in taxes.
In old Bethpage there is actually a big price difference between the one story ranches and the larger colonials. Like 150-200k easy.
For that price I'd rather buy the beater of a house and demo it and build it the way I want to.
Then it makes sense especially if you bought a beater.
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