So, I don't know if I mentioned on here, but we have been looking to sell our 3-story house and get a large ranch home because of Isaiah's disability. We have been having to carry him upstairs to go to bed every night. Trouble is, we're having a lot of trouble selling our house, and we have to sell in order to get the rural development loan for a new house. We could try to rent the house and get a conventional mortgage, but not sure if we will qualify because I have been barely working because of Isaiah, and mortgages are tough to get anyway.
So, I was thinking why not just add a bedroom onto the first floor. We already have a new bathroom there. We could then stay here for a couple of years until we get our legal settlement, and we can use that to help pay for an accessible home for Isaiah. We have about $15K to work with, and we have about $18K of equity in our current house. I figure an addition may cost between $10K and $20K, but I'm not sure, because I've never really looked into it. I would also want to have the floors done in the dining room and living room. The other major improvement we would probably want to do is re-wiring the 3rd floor, but I think we could wait till we got next year's tax refund for that.
So, what are your thoughts? Does it sound feasible? Does it sound like more or less of a hassle than buying a house? What about making it a sun room/enclosed patio instead of a traditional bedroom? Would that make it more of a selling point when we are ready to get rid of the place?