If the existing foundation and first floor framing are substantial enough to allow it, it's generally less expensive to build up rather than out.

As far as appraisal values go, they're more concerned with simple numbers...how many sqft, how many bedrooms, baths, etc.

Market value may be skewed by curb appeal. Will going vertical look nice?

In general, for resale and/or investment purposes, you'll stand to do better should you go up rather than out.

Going up usually results in a smaller roof and fewer linear feet of exterior walls. Lower heating/HVAC bills. In general.

Mongo

Yes, but in many cases, a single story home will sell at a premium, and may have a wider market (i.e., aging baby boomers and/or those with mobility issues). Even those who don't have those issues often prefer not schlepping up and down stairs and prefer everything on one level.

I would argue an extension would probably be cheaper and less trauma if you plan to remain in the house, you are talking about removing the entire roof and building a new one above, not to mention all the internal work to do it and support it.

This is where it's worth spending money on an Architect. There are more botched renovations and extensions when people plan them themselves, and an architect will have more answers for you than we will....but having not even seen your house, I'd say the extention would be easier. I don't imagine stairs are cheap, and you want them to be biggish (can you afford to lose that footprint in the existing house?) because, assuming you'll want a double bed or larger up there, it's a huge pain to get a bed up those add-on stairs which are often very small, or, worse still, spiral. I don't mind them but how do you get the furniture up there?

From what we've learned it's almost impossible to live in a home while a 2nd story is being added to it - even though it's usually cheaper per sq ft & it give you an opportunity to change the look of your house.

I agree with Twalkman...its kind of hard to live in a house while the 2nd story is being added, although it may be a benifit to u in the long run as far as value.

Tell u what..give me a call or send me an email if you definetly want to go through with this renovation.
I have an architect that can work with you on this project and help get it moving

Maurice
MVJ@tmo.blackberry.net
718-844-1054

It's more economical to add-up than add-on, but first floor space is worth more than second floor, so, to me, the deciding factor is that living in a house during a 1st floor addition is a dream compared to the nightmare of living through adding a second story.

If you don't need the extra space and are considering an addition just to make a profit in a few years, you're barking up the wrong tree. There are much better investments, IMHO.

John

Thank you all for your insightful responses. We have had plans drawn up for a second story addition...but are now having second thoughts about it. My elderly parents are living with us now, which is the purpose of the addition, but I think the impact of having all this construction go on over their heads will be too much. Even adding on to the house in back may be too much, too. I think we are going to start looking for a larger home rather than build onto this one. Appreciate all the responses!! Susan