McGrath Architects, P.C.
If you can get the finished product in other ares you like, and the total price is less to move, there is one answer. If the cost to you is the same or more, then you have to add in the real and soft costs of a move, a sale of your house and what value you place on the home you will have by staying.
Practical, functional, flexible space added to a home is a good investment in a neighborhood you and others want to live in.
Thanks again, I appreciate the thoughts!
I agree with Jesse. Moreover, are you adding the dormer to increase the number of bedrooms? If that is the case you will need a broker to run a CMA to determine what the new market price might be. Another factor is as the Chicago house economy has picked up is your geographic area one of the ones on the good rebound or it lagging behind . You will need to look at the entire picture to decide if it is a worthwhile investment or not.
If you plan to sell within 5 yrs I doubt it would be worth it, but impossible to know what the market might be then.
I can, however tell you what will add more value to the home:
If it is a 2 bedroom home, adding one or two more bedrooms will change the marketability of your home significantly.
It is a one bath home, adding a 2nd bath will also have a significant impact.
Any other improvements may be a wash as to the return on your investment.