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To dormer or look for another house?
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greenrunner
LIF Infant
Member since 11/13 126 total posts
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Re: To dormer or look for another house?
We have decided to stay. Love our location, taxes are not terrible and value that the house will be paid off in 20 years. We wanted to stay in our town and I have looked at several houses recently but none seem worth the move even when taking into consideration the cost of additional renovations we have to make in our home.
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Posted 8/15/14 4:38 PM  |
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VickiC
Rocking the party
Member since 5/05 4937 total posts
Name:
Vicki
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Re: To dormer or look for another house?
Posted by MrsRapz
we were quoted anywhere from $120-160k to dormer our house. I did the math and it just didn't pay off to do it since we'd never be able to sell for that price. On top of that, I'm not even sure we'd get approved for the loan since we don't have much equity.
That said, moving to a new house would cost about $30k (between closing costs for selling and buying, paying for movers, etc). Plus, we REALLY love our house and the location and just didn't want to move.
In the end, we decided to expand the first floor. Our taxes will go up more than if we dormer, but it'll only cost about $50k for the construction.
HTH
We were as well. We decided to just do the shell only for the dormer and then finish the interior ourselves since we know plumbers/electricians and a few handymen who can help. In the end, it will cost us much less than $120k to finish the dormer out ourselves - and we are not that handy. Plus, we'll be able to do it as we have the money saved instead of trying to finance it though the bank, etc. since we have almost no equity right now either.
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| Posted 8/18/14 3:09 PM |
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Faithx2
All good things in 2016!!
Member since 8/05 20181 total posts
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Re: To dormer or look for another house?
Posted by Chatham-Chick
We're going back and forth with this as well.
We completed the drawing process for an addition with an architect, but knowing how much it's going to cost (both in construction costs and taxes), along with the fact that construction can't even begin until Spring 2015 has us wondering if we should consider relocating. Unfortunately we're in the prime area for our district (also a top rated district) so that leaves us considering a neighboring district because they tend to have bigger properties and homes with a top rated district as well.  My neighborhood and neighbors are nice, but not compelling enough to make me want to stay here. I just hate like heck to pull my kids out of the school when they've developed relationships with many of the students already. And same could be said for us. We've built friendships with many of the parents within the district. That's what's holding us back.
We are right there with you. Not the dormer part, we have a colonial, but the pulling our kids out and leaving our friends part. I know the older they get, the harder its going to be, so its really now or never. Once these kids graduate hs we plan to downsize or possibly move out of state.
Message edited 9/28/2014 7:55:13 PM.
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| Posted 9/28/14 7:52 PM |
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MarisaK
HELLO Manolo !!
Member since 5/06 14562 total posts
Name:
Marisa
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Re: To dormer or look for another house?
it really depends on you -
For ME, we've already put so much money into our home, the only way I'd move is if I was building my home from the ground up -
I'm not interested in moving and starting to renovate all over again -
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| Posted 9/29/14 12:13 PM |
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| Pages: 1 [2] |
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