We're in Central Kentucky with a lovely home we bought for about $144k back in 2021, enjoying an incredible mortgage rate of 2.5% fixed! Right now, it's just my husband and I, but with kids on the horizon, we're contemplating our space. Our 1,100 sq ft home has room for an addition, and I'm considering transforming a bedroom into a master suite with a full bathroom and adding a laundry room plus pantry, which could expand our home by 700-800 sq ft. I'm torn between creating this addition or selling and finding a larger home. Is it worth the hassle of an addition? What would you do?
4 Answers
Given your low mortgage rate, it makes sense to stay put as long as you can, especially with your plan for expansion. Maybe wait until your second child arrives before making any big decisions. Also, consider comparing costs for larger homes in your area versus the expansion. Just prepare yourself for a year or more of construction chaos if you choose the addition route.
What about demolishing and rebuilding? That could give you a fresh start, but I'm hesitant about making it too fancy for the neighborhood. Just something to consider!
If you're thinking about an addition, I'd suggest getting it done before any kids come along. Trust me, it can become a huge stress and take way longer than expected. I’ve seen homes nearby take ages to finish their additions, even without construction delays from the weather. So if you decide to go ahead, make sure you have a reliable contractor and an ironclad contract. It can get overwhelming, but it could be totally worth it!
Have you thought about adding a second story to your house? That could really maximize your space without going through the trouble of a full addition.