Should I dig out basement or add 3rd floor addition

[John DeLuca]

Hey everyone I live in federal hill and was wondering if it’d be cheaper to do a third floor addition or dig out the basement thanks. 

[Sara Frank]

Depending on the level of finish the prices could be flush. Basement is a messier project and could run you tens of thousands just for the underpinning especially if you need to make up 5+ inches. Another thing to consider is that a third floor would probably be more ideal living space since it's above ground and has more sunlight. On the other side of the coin you'd probably need to go through more permitting for the addition vs. the underpinning. I would definitely get quotes for both and see how they compare not only in price but in how much value they add to the property.