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Adding addition to smaller home in neighborhood of larger homes

8 years ago

My house is really not small. To be honest, it's the right size for me. It is 3880 sq. ft. Many of the homes in my neighborhood are huge. The two across the street are 6000 and 8000 sq ft. The one two doors down is 14k sq. ft. There are also a few 2500 sq foot ranch homes here and there.

I am torn on whether to add a ma bedroom/ma bath addition. My house is older - 1958, but the architect is well known. I have gutted and rewired the house, new roof, new 60 ft. lap pool, but it still appraised last year at 300 sq/ft. whereas the larger homes have sold for 450/sq. foot and up. These are newer homes, so maybe that is why?

There is a piece of property in front of the pool with amazing views of the city in the front and views of the mtn. in the back. The addition would be walls of glass on these two sides, much like the house is.

-Large ma bath and closet.Current ma bath area does not have space for closet/bath that I would like or that neighborhood dictates.
- Privacy and solitude. Current ma bedroom faces road and can be loud from traffic. Cannot open curtains to see view because there is no privacy. New bedroom would be private and set back from road.
-Bedroom would be in front of spa and pool.
-Square footage would increase to that of the neighborhood.

-increased taxes
-increased electric bill
-may be required by city to abandon septic tank for city sewer.
-more space than I need

I need to make a decision as I dont want to put the money into gutting and redoing the master bath and closet if it will become a guest room. Unfortunately, my ma bath is currently barely functional (which may have affected appraisal).

In a neighborhood of larger homes, would an addition make sense? I had two architects look at the space and they think I should do it. It would make me feel better knowing that it would add to the value of my home. Thank you.

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