A lot of people are wondering - do I start over or do I just add on... It is a hard question, sometimes tax records do not provide a higher evaluation sometimes - so less taxes, but for resale, their would definitely be a deduction as compared to a new home.
However, additions can be easier to approve with county/city if you stay within a certain amount of disturb lot area. So, what to do....Have to decide what is important - larger loan or smaller loan? It is a research project and a matter of practicality.
Some people believe build for equity...but with a loan you really pay for that equity plan unless you sell the home quick... So, another factor in that equation.
For more assistance or discussion, attend one of my investor seminars.
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