Love it or List it

[Curlysue]

Has anyone ever seen this show on HGTV? I feel like I am living the show in real life. DH thinks we should sell our house and buy something bigger. I think we should add an addition and stay where we are. I just don't know how we are going to agree. Here are some data points:

1. We own a 2100 Sq foot, 4 Bed/2.5 bath house that we bought 9 years ago.
2. We love our location and our schools. If we move, we want to move w/in 2 miles of where we are.
3. The house should be easy to sell, it is very desirable location on a great lot.
4. I don't think there are going to be a lot of houses on the market that are bigger than what we have, so I am worried about selling our house and not being able to find something to buy.
5. The major issue with our house is the tiny master bedroom and master bath. If we renovate, we would build a new master suite over the garage. DH thinks it would be a nightmare to live through a renovation with 2 kids, and even then he would find things to complain about the house that he feels would be solved with a new house.

Anyone have any advice? We have met with a realtor who said our house will sell fast, and assured us that there will be houses to buy, but he of course can't guarantee what will be on the market. I want to schedule a contractor to come over to at least think about drawing up plans for an addition, but DH is not happy about that.

I don't know how to go about trying to compromise on this.....

[ssmjlm]

How tiny is tiny?

Personally we don't spend that much time in our master suite. So while it would be nice to have a bigger one, I don't know that it's a must have.

[crystald528]

I would think that if you got an estimate from a contractor you would at least know what a new master suite would cost and approximately how long it would take. That should help you determine if the costs are reasonable compared to selling/buying/moving and if you could live with construction for that long.

I would also start looking online at houses on the market, just to get a feel for what's out there.

[wawa]

Jan 2, 2013 14:25:15 GMT -5 crystald528 said:

I would think that if you got an estimate from a contractor you would at least know what a new master suite would cost and approximately how long it would take. That should help you determine if the costs are reasonable compared to selling/buying/moving and if you could live with construction for that long.

I would also start looking online at houses on the market, just to get a feel for what's out there.

yup. this. You're not working with enough information to really figure it out. Start stalking your neighborhood on the real estate websites. Get a quote from a contractor on an addition. Go from there.

[Curlysue]

Jan 2, 2013 14:25:10 GMT -5 ssmjlm said:

How tiny is tiny?

Personally we don't spend that much time in our master suite. So while it would be nice to have a bigger one, I don't know that it's a must have.

The bedroom is about 12X12, but the bathroom is an even bigger problem. It's about as small as you can get for a vanity/toilet/shower (no bathtub). Right now my husband shares the guest bath with our 2 daughters (5 and 7 years old), but that is not a long term solution.

As of right now, there is not a single house in the 3 neighborhoods that we want to live in that is on the market that we would buy. All either too small, not even beds/baths, in terrible shape, etc. I know there will be a lot more inventory coming on the market in the spring, I just don't know if "our new house" is out there.

Thanks for the responses.

[simpsongal]

Hmmm, your situation sounds like one that requires a renovation. I would think a reno' like the one you're describing would cost at least $75K.

There are probably houses similar to yours in your neighborhood. Cruise around to see if any neighbors did additions to their homes - maybe give a polite knock and ask about the process. I think a lot of people are happy to show off their reno' projects.

[lemondrop]

What other issues will your DH still have with this house even if you add on the master suite? You need to consider those things and what's on the market in your area now. If you see plenty of houses that are for sale that match your criteria, chances are good that when you get your current house under contract, another house will be out there.

Also, do you have the cash or equity to afford an addition? Obviously, you'll need to get a quote to estimate what it will cost, but you'll need the cash available to even add on. It depends where you live on total cost; simpsongal's estimate would be super high for an addition here. Will an addition increase the value of your home comparable to as much as it costs? Sometimes, it really is just better to purchase a home with the layout/size that you want.