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CathyB
Member since 5/05 19403 total posts
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How much value does another bedroom add?
Just trying to figure out if it's worth the effort. We have an extra room off our master bedroom (over the garage) that has a huge walk-in closet and another large clothes closet. Technically it's a 4th bedroom, but it's awkward to get to, you have to go through our room. We use it for storage. It has separate heating zone, but a drop ceiling and tacky 1970's orange paneling that we'd have to replace with sheetrock. We'd have to put up a wall in our master bedroom to create a hallway to get to it, have a closet put in our master (the current closet would be in the new hallway. And we can't do the work ourselves, so we'd have to hire a contractor.
We'd be going from 3 bedrooms to 4 bedrooms. We have 1.5 baths. Don't really want to invest in putting in a bath in there, even though there's room, since we're probably going to sell next year.
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Posted 1/31/06 1:23 PM  |
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Elbee
Zanzibar
Member since 5/05 10767 total posts
Name:
Me
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Re: How much value does another bedroom add?
why not make it a master bath suite instead?
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| Posted 1/31/06 1:41 PM |
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KangaMom
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Member since 1/06 4593 total posts
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Re: How much value does another bedroom add?
If you are going to sell next year I would just leave it be and tell the realtor to list it as a 3 - 4 bedroom.
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| Posted 1/31/06 2:09 PM |
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CathyB
Member since 5/05 19403 total posts
Name:
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Re: How much value does another bedroom add?
Posted by Elbee
why not make it a master bath suite instead?
Because we don't think it will pay for itself if we are selling next year. A house like ours without the extra room sold for $550k last summer, and now the one across the street that has 5 bedrooms 2.5 baths had to drop from $600k to $550k.
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| Posted 1/31/06 2:32 PM |
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anon
where's winter?
Member since 11/05 2209 total posts
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Re: How much value does another bedroom add?
Posted by sarahsmommy
Posted by Elbee
why not make it a master bath suite instead?
Because we don't think it will pay for itself if we are selling next year. A house like ours without the extra room sold for $550k last summer, and now the one across the street that has 5 bedrooms 2.5 baths had to drop from $600k to $550k.
it's hard to make an apples to apples comparison like that. depending on the space, i would have to say i would rather have the extra bath than a closet turned bedroom.
sometimes people say to get the most for your money, do nothing. unless it's a real drastic change that was done fairly economically (i.e. most of the work done yourself or with free labor) one won't get all of the $$ back.
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| Posted 1/31/06 2:45 PM |
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CathyB
Member since 5/05 19403 total posts
Name:
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Re: How much value does another bedroom add?
Posted by anon
Posted by sarahsmommy
Posted by Elbee
why not make it a master bath suite instead?
Because we don't think it will pay for itself if we are selling next year. A house like ours without the extra room sold for $550k last summer, and now the one across the street that has 5 bedrooms 2.5 baths had to drop from $600k to $550k.
it's hard to make an apples to apples comparison like that. depending on the space, i would have to say i would rather have the extra bath than a closet turned bedroom.
sometimes people say to get the most for your money, do nothing. unless it's a real drastic change that was done fairly economically (i.e. most of the work done yourself or with free labor) one won't get all of the $$ back.
That's the thing, it's not a closet. It's a room the size of a 1.5 car garage with 2 really large closets in it already. Family members keep telling us that we need to do the work, but we just don't see how it will pay back. I love how everyone has a million ideas on what you "have to do" to your house, as if we have money coming out the wazoo.
ETA: I think we'll just leave it and worst case do it if we can't sell it. Someone who was handy could easily make it into an apartment, it has a separate entrance through the garage.
Message edited 1/31/2006 3:11:41 PM.
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| Posted 1/31/06 3:09 PM |
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Elbee
Zanzibar
Member since 5/05 10767 total posts
Name:
Me
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Re: How much value does another bedroom add?
if you are looking to sell soon, then just leave it. I don't think the investment you would have to make in order to get it another bedroom would give you the return you want.
I'm looking for houses now and for me personally the master bathroom (and a huge closet - I'm assuming a 1.5 garage you could do both) is a much higher selling point than an extra bedroom.
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| Posted 1/31/06 3:16 PM |
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CathyB
Member since 5/05 19403 total posts
Name:
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Re: How much value does another bedroom add?
Posted by Elbee
if you are looking to sell soon, then just leave it. I don't think the investment you would have to make in order to get it another bedroom would give you the return you want.
I'm looking for houses now and for me personally the master bathroom (and a huge closet - I'm assuming a 1.5 garage you could do both) is a much higher selling point than an extra bedroom.
Agreed. I was talking to a friend of mine recently (neither of us grew up arond here) and we can't understand why master baths and garbage disposals are so rare here. They are the norm anywhere else I lived. Weird.
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| Posted 1/31/06 3:19 PM |
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