"OPPOsaurus WRX" (opposaurus)
11/30/2016 at 09:28 • Filed to: None | 0 | 7 |
I was hired by a builder to do drawings for an addition. Hes been setting meetings and cancelling them for about the last 2 MONTHS. Finally he said he could meet but it would have to be 6:30am. At least he paid me what he owed me to date, but not what he was supposed to pay me to get the next phase going.
the starting point:
Proposed:
S65
> OPPOsaurus WRX
11/30/2016 at 09:32 | 0 |
hey that looks good, send caffeine
RamblinRover Luxury-Yacht
> OPPOsaurus WRX
11/30/2016 at 09:36 | 3 |
Could be worse, could have a whole bunch of gables on it.
Deal Killer - Powered by Focus
> OPPOsaurus WRX
11/30/2016 at 09:41 | 0 |
Unless the addition addresses some sort of obsolescence of the property, for instance a lack of a garage, additions to a home are probably the worst way to spend money on a home. Owners typically spend 2 - 3 times what the improvements add to the value of the home. The last appraisal I did where the owners were adding a family room & master suite, they were spending $80K, with the added value being about $25 - $30K. Color me surprised that a builder is less than prompt on payment.
OPPOsaurus WRX
> Deal Killer - Powered by Focus
11/30/2016 at 09:49 | 0 |
they own the house and like the neighborhood. the addition is an in-law suite for an aging parent. the garage, unfortunately is going to push the project over budget and is getting cut
smobgirl
> Deal Killer - Powered by Focus
11/30/2016 at 09:54 | 0 |
Had a little laugh about your comment. My house has an addition from 1921 and the copy of the permit I found at the library put the cost then at $1,000. It added the kitchen and bathroom, which was actually still fairly forward thinking since indoor plumbing still wasn’t available here when it was built. I wish I could find sales documents that old to see how the cost/value compared.
Deal Killer - Powered by Focus
> OPPOsaurus WRX
11/30/2016 at 10:11 | 0 |
I see more additions that can function as an In-Law suite. Ideally, such additions should be easily converted to a family room/bedroom area. It is amazing to me that people will consult professionals in many fields, such as finance & insurance, but rarely when it comes to their most valuable possesion, which is their home. Too many people think HGTV is their best resource when planning a major home improvement. Guys are especially surprised when a $50K+ outbuilding adds a fraction of that cost to the value of a property.
OPPOsaurus WRX
> Deal Killer - Powered by Focus
11/30/2016 at 11:02 | 0 |
The home owner is also getting a nice wood shop in the basement. The suite is pretty large. It would take a bit of work to get it to blend in to the rest of the house but it wouldn’t be impossible