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What would be the return for adding a second floor.

Looking to add upwards but keeping the 3 bedrooms but going to 2 bedrooms upstairs and making a master downstairs. This would include going from 1 bathroom to 2 1/2 baths. Total sq ft. would go from ~1500  to ~2100.
  • October 26 2010 - Central Somers
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Answers (9)

Todd had a good point- how will your remodeled home compare to those around it. If you price yourself out of the neighborhood, you'd better love it there and plan to stay put for a while.
One thing you didn't mention was the condition of the roof prior to the renovations.  If your roof is at the end of its life, going up makes even more sense as it has to be replaced soon at any rate. 
Although this is a small point, search engines will pick up the fact that you have at least 2 baths and that one of them is part of the master suite.  A first floor master BR makes a lot of sense as baby boomers tire of stairs and send their overnight guests/older children upstairs. 
  • January 22 2011
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Two responses:

1. If you're making these improvements out of necessity and you're planning on staying put for many years...got right ahead.

2. Otherwise, any construction, such as you've described here will be financially unfeasible as you won't be able to realize a ROI (return on investment)

If you've outgrown your current house...it would be cheaper to relocate.
  • November 03 2010
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Profile picture for jadedea
i dont get it. do you have a 1.5 bath right now? why not make the upstairs a masters bedroom/office and keep the bedrooms downstairs?? i never understood master bedrooms on the main floor (except on 1 floor houses :) )

unless your building for people who cant use stairs or having master bedrooms on the main floor in a 2 floor house in your area is normal i would go with what you said and make the upstairs bedroom a masters. you could make the downstairs (old master) a guest room.
  • November 01 2010
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Good advice here. While a "subject to" appraisal, subject to the improvements, will give you a professional opinion you still need to do your homework. Like Todd pointed out, if everything on the street and a couple streets over are all ranches with 2-3 BR and 1-1.5 baths, then you will over build for the neighborhood. How far do you have to go from your home to see similar size/similar BR/BA counts? Add Dan's estimate of $100K to what you paid for your home, then compare to a home for sale of similar size/features nearby, what is the price differential?
  • October 26 2010
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The absolute best course of action (though it will cost you a few hundred dollars) is to have an appraisal done on your property "as is" and an addendum for "future value" based upon providing the appraiser plans and specs.  If you are within FHA guidelines, you should check into a 203k for financing...certainly it is the most cost effective way of obtaining construction financing.

I recommend getting the opinion from an appraiser, home inspector or someone with construction experience who has no monetary interest in the project to give you an idea of where property valuation will end up.  
  • October 26 2010
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 it will cost about 100,000 +/- 10%  in Philadelphia area . I own a remodeling company and we just finished a similar project in Conshohocken PA. 


You can find more information about pricing regarding  Home Improvement Pricing by visiting 

[contact info removed by moderator due to self-promotion]
  • October 26 2010
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The main thing to consider is your neighborhood. If your street is mainly 3 bed/1.5 bath ranches, then you may out price your house.
  • October 26 2010
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A place to start is with Remodeling Magazine's Cost vs Value Report.

It is hard to find improvements that will return greater than 60%.
  • October 26 2010
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How would the finished home compare to others on your street, as far as BR/BA and square footage is concerned?

  • October 26 2010
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