Maybe instead of selling your home in the current market, you are creatively approaching the need for more space than your home currently offers. As a first step to conducting a true cost benefit analysis of purchasing a new (or new to you) home or improving your current home, it is helpful to have a sense of typical project costs before embarking on a the tedious competitive bid process from contractors.*

The following represent the six most common living space additions.  The projects listed here are to a moderate-scale level of finish.  Four projects involve adding to the existing home foot print and two involve converting formerly unfinished space to functional living space.

Finishing Existing Space

Attic Conversion to Bedroom and Bathroom – $44,000

Converting an unfinished attic to a 15’ by 15’ bedroom, including walk-in closet and four new windows, and 5’ by 7’ foot shower will add 260 square feet of …

There is nothing scientific about the selection process. This list is comprised of homes that would likely catch the eye of a prospective primary home buyer who is seeking a good value in a neighborhood with a good perception.

Grant Park Single-Family Home

520 Cameron Street, SE — $143,900

4 bedroom, 2 bathroom single-family home located in Grant Park
Last sale was in November 2001 for $230,000
Current (2009) tax assessor value is $335,000, although this would likely be adjusted down to $260,000 – $280,000
Nearby home sales sold recently for $250,000+

Edgewood/ Candler Park Single-Family Home

1258 Arkwright Place, SE – $189,900

3 bedroom, 2 bathroom single-family home located on the edge of Candler Park and Edgewood neighborhoods
The current (2009) tax assessor value has been adjusted to reflect the foreclosure pricing (advantageous for property taxes, value will not have to be appealed and readjusted)
Last sale in August 2005 was for $270,000
Nearby properties have …

Mechanicsville is located in the southwest corner of the Downtown Connector (Interstates 75 and 85) junction with Interstate 20.

The first decade in the new millennium brought to Mechanicsville a breath of fresh air in the form of new residential development and rehabilitated homes.  Old, dilapidated housing projects have been replaced by denser mixed-income, mixed use projects and new single-family homes.  Attainably priced home options have attracted a broader diversity of residents – including young professionals seeking proximity to employment and amenities in Downtown Atlanta and moderate income families that have been priced out of other Atlanta markets.

The following images are courtesy of Gregory and Kate Krumm – members of the Mechanicsville Civic Association.  They are excited about the renewal and positive momentum in the neighborhood and wanted broadcast it to a larger audience.

These homes are just a sample the tremendous values that await the opportunistic buyer willing to see what Mechanicsville …