Costs of new construction vs adding 3rd story Fishtown/Kenzo

[Trevor Deeter]

The wife and I drove around parts of North Phila today. Wonderful to see how it is changing! We want in on the action, but are uncertain of the most economical approach in. Has anyone in these forums done either new construction of one of these 3/4 story + garage type structures seen around Fishtown? I see many listings that are of smaller homes which could make sense to add a 3rd story to and then just rehab. Would love to hear of anyone's experiences or thoughts on taking on these types of projects. 

Thanks BP!