My family has grown too big for our small home. We have been discussing remodeling our home and adding an addition on with more rooms. However, our home is a 1970 modular home and is in bad shape. In the remodeling process we have to put on a new roof, replace all the windows, and do something about the mold in the floor and walls. The thing is we still owe about $50,000 on our home. What should we do? Remodel the existing home and add an addition OR build a new home and tear down the old one?

What are the basic costs per square foot prices of homes vs remodeling an existing home?