Home addition recomendations

petro55

Member
May 8, 2016
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12
Hello TCG,

Looking to put a second story addition and a 6 car attached(3 wide 2 deep with a lift) garage on to my existing 1950s home with tiny closets and leaning 2 car garage(poor foundation).

I live in Inverness and looking for a recommendation for a contractor.

Send me PM if you know someone or have any related experiences with a large home addition. Also trying to figure out if it would be better to knock down and rebuild. Any suggestions on how to calculate ROI on a new home over an addition. My first thought was to contact a realtor, however I would need one I trust......

Mike
 

Flyn

Go ahead. I'll catch up.
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Selling homes on the Gulf Coast of Florida
As an obvious suggestion, get everything permitted. Make sure your contractors are people who use permits, not cheaper companies who might not.

I had a deal fail today because my seller did not get a roof permit when they put on a new roof so the inspector listed the age as more than twice as old as it is (according to the seller). It costs time and money to go through the permit process but it makes selling the home a whole lot easier.
 

Chet Donnelly

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Aug 19, 2004
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I've been looking at doing the same to my house. The builders I talked to all asked for architect drawings before they would give me a final estimate.

Seems like the first step is to sit with an architect and figure out what you want to do and have them draw it up.

My quotes were in the $250-$350 range to turn a 1,400 sq/ft 1950's ranch with a one car garage into a two level, with a four car garage. Second level would be ~1,600 sq/ft.
 

Yaj Yak

Gladys
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with the little bit of info you gave [MENTION=12726]petro55[/MENTION], there is 0 way it will be "worth it"

unless you just don't care and will live there forever.


the real estate market is down too much still and new construction costs so much that it hasn't caught up to building new or adding an addition price...


what you're looking for (that big of a garage) may be hard to find around you, but if it or something close to it exists, it will be a much better use of funds...

or a close second, a house with enough existing space and second level that has the room to do a detached garage... since detached garages typically don't need all the plumbing of a normal home, or trim work, finish work, hvac runs, etc, they aren't nearly as pricey as trying to add a second level to an existing home.


but yeah... cliffs.... no way adding a second story and a garage to your home will ever pay off.
 

Yaj Yak

Gladys
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[MENTION=12726]petro55[/MENTION]

ballpark what's your current house worth now? $400-475k?

just spitballing, but if it's at 450k, and addition runs you at a minimum of 250-300k... could you get more house for 750k?

something like this-

https://www.redfin.com/IL/Inverness/660-Thompsons-Cir-60067/home/13874138

reason being, you put 250-300k into your home, chances are it won't be worth 750k but maybe 650k or whatever the local market dictates... not to mention additional "surprises" you'd encounter adding a second story.
 

Yaj Yak

Gladys
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i mean... 7-800k goes a LONG way for what you get in your area... even further if you venture a little ways away from inverness... but in that area:

795k

https://www.redfin.com/IL/Inverness/1529-Galloway-Dr-60010/home/13896415

genMid.09577402_6.jpg


genMid.09577402_2_6.jpg


739k 6k square feet

https://www.redfin.com/IL/Inverness/206-Bradwell-Rd-60010/home/13885737

genMid.09671361_0.jpg


09671361_16_0.jpg




725k

https://www.redfin.com/IL/South-Barrington/10-Pembury-Way-60010/home/13902904

genMid.09798228_2.jpg


09798228_15_2.jpg
 

jason05gt

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Jan 17, 2007
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i mean... 7-800k goes a LONG way for what you get in your area... even further if you venture a little ways away from inverness... but in that area:

Both have been on the market a long time and the history shows both have been on/off the market multiple time, probably because they need to be updated out of the 90's to command that price.
 

petro55

Member
May 8, 2016
13
12
[MENTION=12726]petro55[/MENTION]

ballpark what's your current house worth now? $400-475k?

just spitballing, but if it's at 450k, and addition runs you at a minimum of 250-300k... could you get more house for 750k?

something like this-

https://www.redfin.com/IL/Inverness/660-Thompsons-Cir-60067/home/13874138

reason being, you put 250-300k into your home, chances are it won't be worth 750k but maybe 650k or whatever the local market dictates... not to mention additional "surprises" you'd encounter adding a second story.
I bought it as a foreclosure for $205,000. Zillow estimates it at $350,000 I doubt anyone would buy it for that. It is on 1.25 acres and is only 4 miles from my wife's and my work.

I have 2 homes in the neighborhood up for sale in the 1mil range however they are not selling. I would say half the homes are small and old like mine and the other half have been torn down and rebuilt. I think 500k home that was renovated with master bath, walk-in closet with modern design/electrical/pluming/hvac/insulation would sell rather quick.

I was planning to talk to a architect but I heard drawing will be like 4-5k.

New construction homes in Rockford that are 2400 SQ feet sell for 220kish. Could I tear down and put up a new home for 200k material and labor? I could do some of it myself,drywall, flooring, electrical...

would a second floor renovation really be 250k?
 

petro55

Member
May 8, 2016
13
12
in a house built in the 50's that likely doesn't have the foundation or support to support a second floor



ps

any of those kitchens are going to cost far more than 50k to get up to date too :rofl:
My thinking was to put 150k into it, bought it for 205k and have it be worth around 500k. The garage would be 30k and I was thinking a second story with some dormers would be 100ish depending on how fancy you wanted to get.

BTW I cannot afford 700k, let alone the 25k in taxes that come with it.
 

bimmer4life

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Feb 18, 2008
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My thinking was to put 150k into it, bought it for 205k and have it be worth around 500k. The garage would be 30k and I was thinking a second story with some dormers would be 100ish depending on how fancy you wanted to get.

BTW I cannot afford 700k, let alone the 25k in taxes that come with it.

Buddy of mine just did a second story addition. He had planned for 120-130k ended up costing more like 170k. You a very light on that 100k unless your just are asking them to frame it out and seal it off and you finish the entire inside.
 

Yaj Yak

Gladys
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I bought it as a foreclosure for $205,000. Zillow estimates it at $350,000 I doubt anyone would buy it for that. It is on 1.25 acres and is only 4 miles from my wife's and my work.

I have 2 homes in the neighborhood up for sale in the 1mil range however they are not selling. I would say half the homes are small and old like mine and the other half have been torn down and rebuilt. I think 500k home that was renovated with master bath, walk-in closet with modern design/electrical/pluming/hvac/insulation would sell rather quick.

I was planning to talk to a architect but I heard drawing will be like 4-5k.

New construction homes in Rockford that are 2400 SQ feet sell for 220kish. Could I tear down and put up a new home for 200k material and labor? I could do some of it myself,drywall, flooring, electrical...

would a second floor renovation really be 250k?

I don't think you could build a hme for 200k that you'd want to live in.

i really think it'd be 250k at least for a reno that you're talking about.

My thinking was to put 150k into it, bought it for 205k and have it be worth around 500k. The garage would be 30k and I was thinking a second story with some dormers would be 100ish depending on how fancy you wanted to get.

BTW I cannot afford 700k, let alone the 25k in taxes that come with it.


can you move to another area?

a 6 car garage with height for a lift is going to be WAY more than 30k around here with our building codes and labor prices. id bet your concrete & driveway cost would approach that number.



Buddy of mine just did a second story addition. He had planned for 120-130k ended up costing more like 170k. You a very light on that 100k unless your just are asking them to frame it out and seal it off and you finish the entire inside.


:werd:

we are looking at doing an addition on our new home at some point and the quick talks we have had with builders have said 100-130k for like 23*17' space above our garage for super basic with just plumbing roughed in/no finishing touches/nothing fancy exterior wise whatsoever. basically a shell.
 
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