I have an 850 sq.ft. house on 10 acres. Would it be better to add on to sell or just leave as is?

Question

2 bed, I bath. Would I be ahead to add a bed and a bath?

Answer 1

Being a Real Estate Agent, the cost of remodeling just to sell does not usually get returned in the selling price. It is probably best to try to sell as is. An add on may get you a better price, but will you net more than if you had sold for less and not done the add on. The new addition may make it more attractive and more sellable, but you most likely will not collect that additional cost in your selling price. With 10 acres and a small house, it may be more attractive to someone who wants to remove your home and build a bigger home.

Answer 2

It's very unlikely you'll get your money back, especially when you consider the up-front investment and time between laying out money and getting it back in the form of a sale. Unless you have access to cheap labor and materials or are an experienced contractor, it's a crapshoot as to whether you'd make money off that move. You'd need to have a good knowledge of the local market/demand to make this call.

How old is the house? How high is the demand for 10-acre lots? I've seen people buy a small house on a large lot and raze it to build another or subdivide and put up multiple houses.

To really play this market, you'll need to get some insight into what the local market is like. Just talking to a realtor might only get you whatever opinion will make the realtor the most money.

Answer 3

I think it depends on the location and the proximity to a developed area. If you had a small house with acreage right around an area where a bunch of new subdivisions are being built along with a ton of new retail stores, I would sell it as is to a developer who would probably pay top dollar for its location. It also depends on how much you expect to get from the sale. If you want say $50,000 for the house but another $300,000 for the land, no one besides a developer is going to pay that much money to end up with a tiny house. But, if you only expect to sell the land for a little more than the price of the house, then I would add an addition.

Answer 4

You may get more for your home, but as a rule you will not recoup what you put into it. If you intend to sell, your best bet is to make it as attractive as possible with as little investment as possible (professionally cleaned, nuetral paint, free of clutter, yard maintained, etc) These minor ivestments will generally bring back more than what you pay for the service.
If you decide to add on, a bath will usually bring the best return.

Answer 5

You need to check into the costs of adding the bed and bath as compared to the extra money the sell would bring in with the additions. My guess is yes, you would net more profit, but you need to check with professionals to get the exact figures.

Answer 6

Boy, that's something I'm looking for right now. (you're not on the west coast ru?) Anyways, we have a 900 sq. ft. house on 1/2 acre. Ours is valued at 105k, we're going to add on 500 ft. before we sell. The neighbor next door had a little house too. They added on approx. 500 sq. ft , invested 20k and increased their value from 90k to 160k and it sold quickly. Little houses are hard to get full value out of as it wouldn't be enough room for most families.I would say if you can do most of the work yourself, it would be worth it. But to have to hire a framer, electrician, plumber would absorb your profit margin.

Answer 7

wife?... kids???

if no who cares!

yes, i'm a man