Move vs house addition

[supton]

More of a general discussion. Not in a position to do either for a while (no equity), and I think we'd be better off just waiting for the next big change in our lives. But maybe in 5 years things will change, so, want to plan ahead.

If *you* were farming out the work completely: addition or move? Assume same costs (I'm guessing $80k to add or what I'd pick up in additional mortgage for a larger house), and assume little hassles about permits etc; also assume that current house location is "good" and no reason to move to another town (with lots of reasons to stay).

 

[supton]

I should add, doing nothing isn't a real option either. As much as I'd like to, the house is really too small.

 

[sparky123]

You know what they say, "A bird in the hand is worth three in the bush." If you like your neighborhood and your neighbors are nice, I'd stay. Especially if you're doing part of the labor. NOW, if your neighbors are a pain, move ASAP if possible. Life is to short to be angry and stressed out.

 

[IndyIan]

Is your house a good canidate for an addition layout wise? Also if you have your own septic system, you may have to replace it if you add more water fixtures, depending on how sticky your building dept is.

 

[Donald]

I couple of thoughts. What is the rest of the neighbor hood like. Is yours the least expensive one there?

I live in a house that I assume was maybe 2000 SQ feet and and they gutted the house and expanded it both left and right. You would never know any of that was done unless you looked in the basement where you can see the basement walls.

But I have seen other houses where a section was added and it looked to me like a small house was extended.

 

[supton]

Layout-wise, it is so-so. I think it would work out ok, as the addition would be added to the backside, on its own foundation; not adding a story (that would require demo on the whole house to redo every wall, as I know the walls wouldn't take it).

Septic is recent (15 years old? would have to look) and was sized for a house with one more bedroom than I currently have; the addition would add a living room, one bedroom and either a garage or just more basement space. I don't think we'd add a second bathroom, as much as I'd like to; if I did add one it would probably just be a 1/2 bath (no shower) to keep it small.

 

[supton]

Mine is so-so on the scale. I have the most land in the immediate area, which bumps the value significantly; most of the properties that don't have lakefront are about the same as mine I'd guess (my land value is like at least half the property value if not 2/3). The lakefront ones are probably 3x or 4x my value. Hard to say: with the road frontage and location and yard I think it'd be prime to increase the value with an addition, it'd come closer to town average, while still being under the really nice ones. During the height of the housing boom this property sat on the market for several months, not that I got it for a song but its size is its downfall, not location or yard size.

Perhaps I ought to note that I have a 700sqft house with two bedrooms? Don't know if that changes anything. The original addition was put on I think 60 years ago; part of any addition would be to put on new siding. Most houses up here are on about the same acreage if not more (I'm in an odd little spot, lots of cottages around a lake) and certainly 3+ bedrooms.

 

[D189379]

Don't forget all the costs associated with buying and selling a home. None of that will be recovered.

If I had to make the choice on my own property, I'd add on to it for sure.

 

[rjundi]

I guess you commute really far based your miles posted on a TDI wagon. I personally favor move closer to work and spend less of your life behind the wheel.

That all being said remember moving entails paying a real estate agent a fee to sell home. Also transfer taxes amonst all the other pesky closing costs.

If you are adding bedrooms your septic system(NH law) not only has to support additional bedrooms but also be brought to current spec(tank/leach field size) to do it if upgrades required. If you don't have additional capacity this will eat into your $80k budget especially with poor perk rate.

 

[supton]

I'd love to, but best I'd do is cut my commute from an hour to half an hour. When I lived 6 miles from work it was still a 15 minute commute; I've been of the mindset ever since that while a location can add tons of time it's unlikely for it ever drop below 20min. Highway miles really go by faster. Just my opinion.

Wife doesn't want to move to the 'burbs; often I wouldn't mind, but I'd have to give up some pursuits to do so--like biking and the camper, and probably would pare down to two vehicles (a boon there too), and I'd probably still pay lots, NH ain't cheap. Honestly, if I was retired I wouldn't move from the town we live in.

I'm pretty sure the septic was sized for an addition, as the prior owner was planning on an addition, but for whatever reason moved on. [Maybe that should tell me something...]

No, both of us, while we like the house and its location, are of the mind that's vastly easier to move, and probably a better return on the dollar. We like the lake and all, but don't really want to "pay" for the luxury of being taxed just because we're close to it.

 

[Schmoe]

If the wife doesn't want to move....problem solved....stay and expand. You will save yourself untold amount of "disagreements."

 

[rjundi]

With 700 SF that is a really tough sell. However adding any space will make the property extremely appealing and increase the value massively.

If you like the area and the schools are good if that matters stay.

 

[supton]

Yeah, we like the area, and yeah, 700sqft is really small, and sticks out like a sore thumb in a sea of traditional sized houses. We've gotten settled into the area, good friends, good church, and we like the school, crime is low, traffic is not bad; and our parents are envious of the area too and would move here if they could.

The kids share a bedroom but at some point we'd like to split them up (opposite genders), and the house configuration hasn't a good way to do that (otherwise we'd just leave well enough alone). I still play with ideas, but the wife, who is otherwise usually very agreeable and very practical, hasn't liked any of the ideas so far.

As I said, can't do anything right now, just mulling it over out loud. Pretty much hearing what already was in my head, but it's nice to hear it confirmed.