Build Up vs. Build Up & Out
I tied up a home in Birmingham, MI and plan to add square footage and renovate for sale. House has 890sqft basement so I figured I could yield 1,800 sqft going straight up. The cost I estimate for this is $130,000.
The GC recommends building out the back of the house on slab to increase livable square footage to yield 3,000+ sqft. His estimated cost is $180,000.
If you've had experience building out, does this sound reasonable? Obviously my margins are significantly better over 3,000 sqft (retail sale comps $200 to $250/sqft).