Could use some feedback on the below...
I am considering an addition to replace exisiting 3 season porches with finished space, including 2 bathrooms. We have always viewed these porches as unused space (too hot in summer, too cool in cold months) and want more utility out of them. Separate from this my wife really wants her own bathroom separate from me and our two sons, with various complaints from aiming ability to cleanliness standards. And lastly, we see the advantage to a first floor bathroom.
OK. Home is in New England, 100 years old, HCOL. See photos. What I am considering is tearing the porches down (they are currently on concrete footings) and rebuilding roughly to the same footprint. I may expand the first floor, but not likely the second floor (we just converted the attic space to finished space a couple years ago and added solar a year ago. I don't want to 'undo and redo' that work). Roof is recent, house is updated and in great shape.
What I am thinking: Master bath on the second floor, potentially with a closet. Half bath on first floor (likely behind dining room) and new mudroom and entrance to the house.
A couple of notes:
-Will pay for this primarily with cash, potentially $10-20K in HELOC that would get paid off within a year
-I intend to GC it. I did the same on a recent renovation and it worked fine. I am an engineer by trade and fairly handy
-I plan to so some work myself. I will need the 'box' built, and will rely on a carpenter for interior carpentry. Things like floor, tile, trim, paint, etc I will do.
-My FIL is an electrician, so free labor
-Would need a variance from the city, but with an existing structure there should be no issues. Neighbors are friends, expect no issue.
-We will live in the house for the next 15 years (estimate)
-House prices are $300-400 / sq ft in my area. Usually toward the higher side if the house is nice. I am assuming that this addition adds ~200 sq ft and 2 bathrooms, and that it will add between $50-70K in value to the house. If this estimate sounds unreasonable let me know. I am willing to 'spend' up to $20K on 'lost' value (ie money above what value the addition adds to the house), but not much more.
https://imgur.com/a/PPeqj7L
Living Room (you can see the door leading to 1st floor porch in the photo) - https://ssl.cdn-redfin.com/photo/52/mbp ... 47_2_0.jpg
First Floor Porch - https://ssl.cdn-redfin.com/photo/52/mbp ... 47_7_0.jpg
2nd Floor Porch - https://ssl.cdn-redfin.com/photo/52/mbp ... 7_16_0.jpg
My cost estimate is in the IMGUR link above - Please let me know if you think I am significantly off in any area.
Estimate: $72.5K, $360/sq ft
And....THANKS!