1700 sf is ample for a family of 4 if it's structured correctly. In a house of that vintage, what is usually lacking is more storage space than living space. I'd loook at a different option than adding a master. Add on less expensive per square foot space, like maybe a separate garage or dedicated storage building on the property. That can take care of some of the internal clutter that makes the bome live smaller than it is. That will always be recoupable expense no matter the ultimate decision about other additions. Is the attic already living space? Perhaps another bath on top of an existing bath would make that easier to plumb, and a dormer added can make for a nice master suite there for less expense (and a more attractive look) than a rearward extension.

Finally, cost isn't everything. The utility of wwhat you are purchasing is not without value, even though the expense isn't recoupable. After all, people save to eat a nice meal in a restaurant even though they can probably prepare a peanut butter sandwich and eat at home. The money spent is buying the experience as a total.

Can the basement be finished?

If you decide you do need more square footage, I'd keep looking at real estate and do minimal updates to the current home. I think most posters here agree that no matter what estimate the contractor comes up with, you should be prepared to spend even more. There are always surprises in remodeling, especially in 100 yr old homes.

One tip, be sure you know where your property line and the setbacks are before putting money into an architect and building fees to expand your home.

It'd typical to have to live in a house until the economy catches up to the value of the add ons.
Especially if you are not presently in an equity position.

lmh423:

Your architect and builder are saying you won't get back your investment if you sell the day after you get your Certificate of Occupancy. You said you wouldn't mind living there for the next 20 years. They or no one else can say what something will be worth then, and if you've enjoyed it for 20 years, it would be worth it.

It is rarely possible to get your money back the day the project is completed. That goal seems to be a fantasy popularized by scripted reality shows.

The comparison you need to make is with what it would cost to buy a mother house and make it comfortable.

@lmh423: "The problem with trying to stay in our ideal neighborhood "

If you search these forums - they are many questions similiar to yours - the 'ideal' house, neighborhood, school, etc. But it is uneconomical to build the 'addition'.

Things change. What is ideal one day, may not be ideal another day.

As others have said, it's going to cost more than those estimates. You are going to have to do a lot of work just managing the project, plus having the usual construction problems. There is an element of risk.

There's a saying I like: "Don't love anything that can't love you back" - that includes cars, homes,etc.

This post was edited by Geoffrey_B on Mon, Feb 3, 14 at 14:16

The house I grew up in was 1600 sq ft and there were five of us. Yes, storage and personal space was an issue but we made do without killing each other. Takes planning , patience, and sharing. Remember bunk beds?

The non-attached garage that father added was a BIG help.