All Forum Posts by: Alazar Wubet

Keep in mind I don't know you, your market or this house, but if someone in my area were looking at an expenditure like this and said "3 bed houses don't sell in the area", the first thing I'd want to see is proof, which would be just pulling the sold listings off the MLS in the area and looking at days on market. I guess I just question big statements like that only because they often can be formed off of what people hear, and not what is true. But if you know this answer definitively and know it will bring the value then go for it! Best wishes for your project.

 I can’t speak for you specific project, but I certainly know people who have waited that long for architectural review. 

Another question. Does below grade living space count in your market? Some markets you aren’t allowed to count below grade living space.

Here’s a lot of dc info including needing a new coe when you buy

https://realestateinthedistric...

But here’s a page just what I thought…

https://dc.urbanturf.com/articles/blog/the_square_footage_game/1526#:~:text=In%20short%2C%20the%20square%20footage,%2C%20dining%20room%2C%20etc.)

In short, the square footage for a property in DC consists of the above-grade finished living area. According to the DC Property Tax Division, that is “comprised of the finished areas of the main floor (kitchen, living room, dining room, etc.) and any finished areas above the main floor.” The basement is not usually included in the calculation.

You might get extra value for finishing the basement but you can’t advertise the finished space. I was thinking if you built out then you have the more valuable addition that you could always build under later. They’re more likely to prevent future above grade building than below. 

Ps. I did just notice the article is 10 years old, so you might want to ask a realtor.

As mention above.....Permits.

 W/o knowing the details of your deal, dealing with dcra and spending well over 6 figures to add a bedroom hardly seems worth it, if you made a mistake you may have to eat a loss, but don’t compound your issues, I only stick to projects that don’t invoke architectural permits in dc but I’ve heard it can easily run 9 month even more if your in an historic district just to get permits.

I think a question I have right away is does adding a bedroom add this much value to justify the time and expense?

 Realistically the cost of a dig out is likely to at best equal the value it adds.