Ok, here is a bit more info that may help clarify.
The house is an old house, adn one thing we are *Having* to do regardless of the addition, is to have the house raised and the foundation redone. We also have to have the subfloor and possibly many of the floor joists replaced at the same time. I would figure at that time, we couldhave any reinforcing done to the main structure, with minimal cost right?
So as small as the house is, would the up be more cost effective? I know that we will not be adding anything to the loft other than electricity, unless we can add a master bath with VERY Minimal cost.