Upgrade home or buy bigger one?
We bought a small ranch 3 years ago- It's getting too small for our family of 5. We think it's probably worth around $425,000 (we live in the Northeast)- We estimate it will cost over 100,000 to add second floor and more bedrooms etc etc. Are we better off buying a bigger house? I'm not sure what would be more of a strain financially. There is a bigger house for sale down the road for 550,000- The way I figure it- I'm up around that much now with the amount of $$$ I need to make mine bigger