Definitely. Here is why , there are several good builders out there who will build with
All permits for about $150 per square foot. Once completed you will be be selling at about
$350 a square foot minimum a solid return.
Let me know if you are looking for names of some good builders.
To be frank, the ROI or return on investment of any home modification is almost never 100%. The reason, of course, is that by the time you sell your home, the items will be used and no longer new. Only if you were never planning to live in the home again would there be a chance that the home modifications would recoup close to the 90 percent mark.
More importantly, however, remodels and renovations are highly "personal" and indigenous to the needs of a specific homeowner. Many times, fulfilling a homeowner's specific needs do not necessarily "translate" into renovations that appeal to a large majority of home buyers. To really maximize any modifications, homeowners should avail themselves of professional architects, structural engineers, interior designers and construction contractors to create a modification that blends well with the existing home and adds to the value of the property.
Finally, as Monica noted below, to know approximately what your home will be worth, you'll need to look at the sales prices of other 1700 square feet homes in the area. Depending on where your home is located, if there are not any 1700 square foot homes located nearby, it might even be ill-advised to expand the home to this size in the area where the average home may be much smaller. Again, working with professionals will help you avoid the pitfalls of overbuilding or creating an additional that fails to enhance the home's value.
Area Pro Realty
First thing to do is to compare the current value for a 1700sqft home in your neighborhood to the cost of your home, (including the cost of addition).
-While comparing compare the number of Bedrooms and no. of Baths, because that is a big factor.
Typically your return will be appx. 75% on the new construction cost, however also factor in the time of usage.
ie. how many years are you planning to live in this house? Several years down the road the propery might appreciate substantially. Plus you get the benefit of being in good school district.
As mentioned below not a bad idea to bring in a Realtor to give you some ideas.
Best of luck!
If you plan on staying in the home for a while, you will incorporate the remodel for your own enjoyment but taking into account some trusted advice from the professionals in time well invested.