"Dogs' lives are too short. Their only fault, really" - Agnes Sligh Turnbull

GIA - AGENT SHOWCASE

This month's featured agent is...

Dorothy Santana

Dorothy has the lead transaction of $880,000. An incredible accomplishment that deserves to be recognized! Keep up the great work, Dorothy!

How hard would it be to slap a second level on top of a single-level house?

Have you ever wondered if it would be worth buying a single level house and just adding upward? Maybe there's not enough room to go out, so you think going up would be a great way to double the size of the home without using a bigger footprint. Or maybe you live in a single family home now and wonder about adding upward.

It might make sense, but before you start imagining a new second floor suite or upstairs apartment, here are three considerations:

First, the foundation. In some cases, you can "slap a second story on top," but only if the foundation of the first floor can take the weight. Foundations come in many varieties, from slabs to basements, sandstone to cinderblock. You need a construction engineer to determine if adding more weight is feasible. You might also wonder if the foundation can be reinforced to take a second level. The engineer will let you know.

Second, the construction. Your contractor will need to integrate the new addition with the older parts of the house. That can be easier or harder. For instance, if you're adding a second level to your garage, you might be able to have a crane simply lift your current roof off, then pop it onto the new level when ready. Your architect will clarify the construction plan with you. A lot will depend on what's going on with the first level.

Third, the contractor & cost. You'd need to find a contractor who's creative and willing to take the time to do this kind of project. Figure on doubling or tripling the cost-per-square-footage of typical additions.

Even with these warnings, it still might make sense to build up. If you’re trying to stay in your current location, or if the value of your two-story home would far outweigh the cost and time involved, then a second level might make sense. Just know what you're getting into before you buy!

REAL ESTATE & MONEY MATTERS

STAY "IN THE KNOW" ABOUT REAL ESTATE NEWS AT https://www.mykcm.com/mmr/

Investing in New Construction and Multifamily Assets

During the COVID-19 pandemic, Hannah Bercegeay and her husband began investing in real estate as a way to secure their financial future. Now, they own cashflowing assets in single family homes and an apartment complex. Hannah has a wealth of knowledge to share about new construction, value-add projects, and managing a portfolio while working and raising kids. You'll love her passion and expertise. Listen now!

➤ Listen to the Podcast Now

Can we skip the inspection when buying new construction?

Most people expect a newly built home to need fewer repairs than an older home. Makes intuitive sense, right? But new homes can be subject to problems that are harder to see than those of older homes. An older home that has been around for decades might have visible rot, rain damage, plumbing issues, etc. that are easy red flags. But it takes an experienced new construction inspector to spot typical areas where home builders might cut corners in a newly built home, such as grading issues and materials short cuts. If you don’t want to cloud your offer with an inspection contingency, you should at least have an inspector, contractor, or other building expert accompany you when touring the property to give you “off-the-books” input.

The value of having a pool vs. not

Don't just assume a pool will either add or subtract value. Some people love pools, some hate them. What matters is where the home is located. When a pool is valued by people in a location, an in-ground pool can boost a home's value by 5-8% over similar homes without a pool. However, if pools are scarce because of high insurance or water costs, then having a pool might devalue the home. Careful analysis of comparative homes is the only way to determine the value a pool adds.

JUST FOR FUN

Summer Funnies

What did the ocean say to the beach? Nothing. It just waved.
Why aren’t clams more generous? Because they’re shellfish
What do you get when you throw a bunch of elephants into a pool? Swimming trunks.
Where do sick boats go? To the doc.
How many blueberries can you grow on a bush? All of them.
What did the tree say when spring arrived? What a re-leaf!
What causes dry skin after spending too much time in the pool? A towel.
Why did the baseball player get arrested? He stole third base.
Why doesn't the sun go to college? Because it already has, like, a million degrees, duh.

Curious about New Real Estate Investing Ideas? Email Me >