The addition of additional bedrooms on a home that already has 3 BR's is of little value to most buyers. If the rooms can be designated and improved to be an exercise room, an office or a craft or workshop room by installing specialized types of built ins or decor may help you. The other comments are dead on in that prices are down and lenders are pickier but you have a chance to get a new value but not for additional BR's.

Hi Paula,
I would have to agree with the other comments so far - if you lived IN the cities. Since Kilkenny is such a small town, comparable homes will be very hard to come across. There appears to be only 4 newer split level sales within a 5 mile radius in the last year.

Being an appraiser myself, I see scenarios like this quite often and unfortunately there isn't much we can do about it right now. If you do go forward, find an appraiser in your area by searching:

http://appraiserusa.com/

Good luck!

Paula,
I wouldn't count on that much of an increase. A basement finish might add about $30,000 to a split level home, tops.
Plus home prices have decreased in the last two years and lenders have tightened guidelines.
Michael Doyle Realtor

Paula.......that comes out that you need to pick up approx. $36 for each square foot you improved. Near as I can figure, you should be able to pick up the 50k, but probably not a lot more.

Thanks, Todd