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Build on, or sell and buy bigger....

A realtor's coming over on Sunday to give us an idea what we can ask for our home. We aren't having it appraised, just getting some comps, and then seeing what she thinks. It's free, so we figured it's somewhere to start. I have a sneaking feeling that we aren't going to be able to make much off of our home because of the market....
We've also been talking about building on, and it's kind of exciting to think about. We figured about 600 sq ft more space. I just wish I could visualize it better, so I had an idea what rooms would be where, etc....

So have you been through this? What did you experience in this market if you sold? Or, what was your experience if you built on to your home? I'm curious to hear the good, and bad.
Thanks!

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Anonymous

Asked by Anonymous at 10:43 PM on May. 7, 2012 in Buying a Home

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  • I think this depends a lot on where you live, close to a city, in the city in the burbs or in the sticks. What is the market like where you are living? Have similar homes sold for decent prices? How long do you plan to be in the home overall (if you add on)? How much room is really enough? Do you want to be out of the house/can you be out and pay two rents while you build? How much do you love your location to build on? Is the cost in the end, a better option than just buying a bigger home elsewhere. Will you get your money back if/when you do want to sell down the road. Sometimes building on isn't the better option. Whatever you do, good luck!
    Anonymous

    Answer by Anonymous at 10:47 PM on May. 7, 2012

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