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MrsMC107
LIF Toddler
Member since 1/10 451 total posts
Name:
Meg
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Adding on to a house
Take a 1 story home, with a full basement...
If you were to add an addition on it, is it generally cheaper to build up or out?
TIA
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Posted 4/11/11 4:09 PM  |
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Prudential Douglas Elliman Real Estate
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MrsSunflwr29
LIF Adult
Member since 3/06 1093 total posts
Name:
M
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Re: Adding on to a house
I know that for tax purposes it is cheaper to add up then out. I think that the taxes go on the footprint of the house. So if you expand out and add additional foundation it will make your taxes increase a lot more then up.
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| Posted 4/11/11 4:19 PM |
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ali120206
2 Boys
Member since 7/06 17792 total posts
Name:
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Re: Adding on to a house
It's definitely cheaper to go up rather than out - adding foundation increases cost significantly.
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| Posted 4/11/11 4:26 PM |
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IrishLasss334
I'll be there soon!
Member since 1/08 6549 total posts
Name:
Patty
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Re: Adding on to a house
Going up is definitely cheaper then going out - especially for taxes.
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| Posted 4/11/11 5:16 PM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: Adding on to a house
Taxes are based by square footage for the most part. Going up vs. out really isn't going to be a huge impact on taxes.
Sure going out is more, but not by a whole lot.
If you go up, expect your taxes to go up by 30-40% at least.
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| Posted 4/11/11 5:44 PM |
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Mill188
LIF Adult
Member since 3/09 3073 total posts
Name:
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Re: Adding on to a house
Posted by IrishLass
Going up is definitely cheaper then going out - especially for taxes.
This is a huge myth! Either way you are increasing the square footage of the home. Up or out, it doesn't matter.
However, it is generally cheaper to build up - adding a foundation is expensive!
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| Posted 4/12/11 9:13 AM |
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BriBri2u
L'amore vince sempre
Member since 5/05 9320 total posts
Name:
Mrs. B
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Re: Adding on to a house
Posted by Mill188
Posted by IrishLass
Going up is definitely cheaper then going out - especially for taxes.
This is a huge myth! Either way you are increasing the square footage of the home. Up or out, it doesn't matter.
However, it is generally cheaper to build up - adding a foundation is expensive!
This.
We are working on converting my moms home into a 2 family and its all based on the square footage, whether you go up or out.
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| Posted 4/12/11 9:24 AM |
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randella
Love my little man
Member since 8/05 16290 total posts
Name:
Randi
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Re: Adding on to a house
I think going up is easier in terms of town permits, etc. because you are not increasing the foot print of the home-- but I do believe taxes are based on usable sq. footage in a home, so regardless taxes will go up!
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| Posted 4/12/11 12:13 PM |
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