Adding an Extension

> @resident2
> Plus the forever much higher Real Estate Tax reassessment on your Real Estate Taxes.

If there a way to find out in advance how much an improvement like an extension or changing a C of O would alter the tax bill?

rana-foroohar

in General Discussion 9 years and 11 months ago

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kximbnfgxgjwe | 9 years and 11 months ago

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Our house already had a 20 x 15 extension at the garden level, and we are adding a same-sized extension at the parlor level (so, no new foundation work needed – just building up one level). This is part of a very large 7 figure gut renovation of the whole house, but I asked the contractor how much we would have saved if we hadn’t done the extension, and he said about $250K. I’m not sure if we would have needed sprinklers if we hadn’t done the extension, but the sprinklers are about $50K. I would be surprised if your proposed extension wasn’t therefore at least $500K.

randolph | 9 years and 11 months ago

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> @lsp2
> at least $500K.

(20 x 13) x 2 = 520 sqft

for this to cost 500k that means spending 960/sqft ?! unless the finishes are insanely high end, i see no reason why it would cost so much.

thenext | 9 years and 11 months ago

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I’m looking to do the same type of extension on my brownstone. I’m not sure of cost yet. I’m just in the planning stage myself. My house already has a sprinkler system. My FAR will permit me to do 10′ x 15′ extension on up to 3 levels. I’m guessing $200 sq. Ft So roughly $450K

thenext | 9 years and 11 months ago

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I agree. I think most of the money will go toward Glass. depending on your Window plan. Ideally I would Glass out the back wall. Already received a quote from NANA Wall for about 45K

randolph | 9 years and 11 months ago

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> @thenext
> My FAR will permit me to do 10′ x 15′ extension on up to 3 levels. I’m guessing $200 sq. Ft So roughly $450K

I am far from a mathematical genius, but what is with everyone’s math?!

(10′ x 15′) x 3 floors = 450 sqft

450sqft x $200/sqft = $90,000

so how are you arriving at $450,000 ?

resident2 | 9 years and 11 months ago

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Plus the forever much higher Real Estate Tax reassessment on your Real Estate Taxes. This is a cost that stays with you forever and your architect & contractors never tell you to expect.

randolph | 9 years and 11 months ago

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> @resident2
> much higher Real Estate Tax reassessment

how much will an extension add to your tax bill? is it the additional square footage or the value of the house post renovation that causes the increase? is there a formula to how this is calculated?

SimpleTwig | 9 years and 11 months ago

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If the existing extension is legal then you can replace the entire structure with the same square footage, assuming the FAR allows for it (which you said it does). The cost is higher than just typical floor area in a home because you have to dig down and build footings/foundation walls, roof/drainage, and build 3 exterior walls, plus hauling material by hand. This exterior and structure work raises the cost per SF substantially. For 2 floors you should plan on at least $150k to $200k as a minimum to get it done right, another $50k to $75k for nice interior finishes and windows. Because an addition like this is exposed to the elements on multiple sides, I highly recommend very good R value insulation.

If you’re in a historic district adding two floors to the rear usually isn’t a problem as long as it is not visible from the street… (same for roof additions) but then again if you are replacing an existing structure with a new one this shouldn’t be too much of an issue with landmarks anyway.

rana-foroohar | 9 years and 11 months ago

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> @resident2
> Plus the forever much higher Real Estate Tax reassessment on your Real Estate Taxes.

If there a way to find out in advance how much an improvement like an extension or changing a C of O would alter the tax bill?