Ask a Professional - August 2006

My house is too small and I need more space. Should I add space to my existing house or should I just find another house that is bigger?

This is a decision that takes many things into account. Ask yourself do you like your existing location for schools, shopping and convenience, climate, friends and family? How important is appreciation to you within the next 3 to 7 years? How important is what is spent now for your needed space? Here’s the cost factor: Buying another house will cost approx. btwn. $160 to $235 s.f. or more.  An addition to your existing house should cost approx. btwn. $125 to $165 s.f. Of coarse it all depends on your allowances for accessories and design. If you like the location your at and have room to grow on your land adding on may be your best bet.