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What would be the cost of converting a cape to a ranch?
Current layout of cape is about 30 x 24, yielding about ~1080 SQFT of living space. The layout of current house is disastrous and I was thinking of removing the useless 2nd floor as the ceilings are low and it forces stairs to be in middle of house.
If we remove 2nd floor, and add change 30x24 to about 45x35, we'd get about 1500 ish SQFT of usable space. I check zillow every day, and all I see is capes and expanded ranches without basements, neither of which qualify as real houses under my expectations.
How much would this cost? 30x24 w/ full basement to 45x35 w/ full basement dig out? Is this even possible to have contractors do the structural work + exterior? I wouldnt want to pay for interior work as well as I plan on changing all of the floor plans anyway once this is done as the current layout is abysmal.
Though as I'm typing this... it seems the easier option is to somehow buy an existing ranch that looks like it's been through hell and just DIY everything inside. I would do everything here but it's just impossible with a small cape. Even if everything is reno'd here, it will still be a small crappy cape. That's my reasoning.
OP, you answered your own question, it would likely be cheaper (and much easier) to buy the house you want to replace the one you have.
On the other hand, and if your lot is big enough, and the city would let you, maybe you could get a quote to simply add on a four or six-car garage with a breezeway to connect to your existing house, with sliding glass doors in the rear of it. You could then put in a nice three or four season room at the rear of the garage (walling it off from the rest), and over time, remove the dormers in your cape, and replace the existing stairs with a pull-down set, to allow egress to the (now storage-only) attic. Obviously, you'd want to block or greatly reduce the HVAC ductwork to the attic as part of the process. This could be done over a period of time such that you could make it affordable. OR, just leave it alone and use the upstairs for storage, why spend money to make the property less livable?
I do understand where you're coming from, I had friends with Cape Cods growing up, and I never saw the appeal, I sure never wanted to live in one. But what they do, is maximize interior space, they're probably the lowest-cost per square foot home you could build in a "traditional" manner (barndominiums excluded). But yeah, steep stairs, and especially if you don't have a bathroom adjacent to the often-cramped attic bedrooms - no thanks.
Clearly you are not doing this. If your built bare bones raw space with builder grade materials and don’t need new hvac outside some ducts or radiators. No plumbing and just some outlets and lights, about 65-70k minimum. Allot of $$ for 330 sq ft with half being unfinished excavation. This is one crazy idea. A cape to a colonial sure, building out and excavating a basement is crazy. Building out over a slab is way more economical.
Clearly you are not doing this. If your built bare bones raw space with builder grade materials and don’t need new hvac outside some ducts or radiators. No plumbing and just some outlets and lights, about 65-70k minimum. Allot of $$ for 330 sq ft with half being unfinished excavation. This is one crazy idea. A cape to a colonial sure, building out and excavating a basement is crazy. Building out over a slab is way more economical.
Economically I would be living in Arizona. It's one thing to pay a high price for a home, it's another to pay a high price and get nothing in return.
OP, you answered your own question, it would likely be cheaper (and much easier) to buy the house you want to replace the one you have.
On the other hand, and if your lot is big enough, and the city would let you, maybe you could get a quote to simply add on a four or six-car garage with a breezeway to connect to your existing house, with sliding glass doors in the rear of it. You could then put in a nice three or four season room at the rear of the garage (walling it off from the rest), and over time, remove the dormers in your cape, and replace the existing stairs with a pull-down set, to allow egress to the (now storage-only) attic. Obviously, you'd want to block or greatly reduce the HVAC ductwork to the attic as part of the process. This could be done over a period of time such that you could make it affordable. OR, just leave it alone and use the upstairs for storage, why spend money to make the property less livable?
I do understand where you're coming from, I had friends with Cape Cods growing up, and I never saw the appeal, I sure never wanted to live in one. But what they do, is maximize interior space, they're probably the lowest-cost per square foot home you could build in a "traditional" manner (barndominiums excluded). But yeah, steep stairs, and especially if you don't have a bathroom adjacent to the often-cramped attic bedrooms - no thanks.
what about this...
live in cape for 3/4 years paying low mortgage. invest rest of cash in stocks and sell in 3/4 years once a ranch foreclosure hits the market. then grieve taxes since sale price is low and reno everything inside quietly and reap low taxes + spankin house? then sell or rent out current cape (probably sell).
live in cape for 3/4 years paying low mortgage. invest rest of cash in stocks and sell in 3/4 years once a ranch foreclosure hits the market. then grieve taxes since sale price is low and reno everything inside quietly and reap low taxes + spankin house? then sell or rent out current cape (probably sell).
If all those balls line up for you, 10-4, Good Buddy. I just saw now that you're on Long Island, so yeah, you're in a pricey neighborhood. In about two months, Scottsdale is going to be looking even better.
A cape to a colonial sure, building out and excavating a basement is crazy.
This.
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