The requirements to get a permit are different for each area. I would contact your local offices to know what you need to do in order to acquire one. You are welcome to build the extension on yourself. I'm not sure if there is something extra you have to get on your permit that states that, though.... more
1. First and foremost you purchased the home to live in. What type of set-up would make you the most comfortable.
2. If you are truly only going to be there for 5 years or less, I would consider not doing the Master addition. Even if you add a basement bedroom with an egress window and tons of natural light, it is still a basement bedroom.
3. You are correct a 2 bedroom is tough to sell. This is considered a starter home in Broomfield. If a family with younger children purchase the home they would want everyone on the same floor, not in a basement bedroom.