For sure, you can probably do the system upgrades and the kitchen for that and the other minor painting, etc. The laundry room and master above a garage, that will be the squeaker. A single floor garage isn't built to have an addition above it, and additions involve a lot of red tape and paperwork. The cheapest way to accomplish that is to tear it down, redo the foundation, and start completely over. That's easily 150K for that right there with the most basic of finishes. A kitchen is 60-70K average, and all of the systems work is probably another 30K, depending on how much destruction is needed to accomplish that.

You will be uncomfortably close to your max budget. However, if you plan the project properly in stages over time, you could possibly break it down into more manageable chunks. It will cost more to do that, but you aren't so close to the edge to do it that way. You just have to prioritize which changes need to be done now vs. later. Personally, I'd concentrate on the safety systems and upgrades to the home's bones, then the public spaces. The luxury of having a nice master suite would come last for priorities. It will be the largest single chunk, and will require the most planning and encounter the most red tape.

I'd get the investigating done for the project right now, to see if it's even possible with the setbacks and lot development % that your municipality regulates. If it can't be done at all, then you have to decide if you can permanently live with it as is or you keep looking. If it can be done, then decide if you can live with it as is until you can get done with the planning and dollar accumulation to be able to handle it if there are structural surprises. And there are ALWAYS structural surprises! Plan on at least a 20% contingency fee and celebrate if you don't have to use it.

Here is a link that might be useful: Boston MA Remodeling costs

Thank you so much for your input, HollySprings! I agree that this is a squeaker. We went back to the house today with an architect, and he identified a space to add on at the back of the house: over a family room addition that has a good foundation plus possibly a small addition alongside that. The architect thinks that this is our least expensive option, although it will still be tight with the budget. I am going to check out the link you sent now! :-) I really appreciate your perspective.

Don't assume that a foundation is adequate for a second story if you cannot see the footing even if the original permit drawings show it to be adequate. In my experience foundations are often not built as designed and permitted.

I'm in the process of underpinning two foundation walls in the Boston area right now and both were shown in permit drawings with continuous footings built in the 80's.

The other issue is that eventually you will need a structural engineer to design any "engineered" lumber beams and joists so common in modern open structures and that engineer might be hesitant to put a stamp on the drawings if he/she hasn't seen the footings.

My engineer often reminds me that if he can't find the true value for the strength of something, he must assume it is zero.

An architect in MA has the same capacity as anyone else for the design of a structure that is not shown in the state building code so be careful - your architect cannot stamp the structural design drawings.

This post was edited by Renovator8 on Fri, Dec 20, 13 at 22:56

Contact National Grid. They likely have financing optionsand rebates that are quite attractive for oil to gas conversions. That may free up some cash...which I think you will need;)

If you plan to jump right in, also check with National Grid re: when they will dig -- I think you will be waiting until late March.

Thanks for the great input! I think we are figuring out that the project would cost more like $300-$350K. :-) Eek! I love the National Grid idea....any savings will help!

Sara