Home Selling in 33615>Question Details

Jennifer Bra…, Home Buyer in Tampa, FL

How much will the value of my home increase by adding a master bathroom onto what is currently a 2 bedroom 1 bath?

Asked by Jennifer Brangers, Tampa, FL Sun May 12, 2013

Currently our 2 bedroom 1 bath waterfront home in Town n Coutry/Tampa Florida has only one very small bathroom in the main hall. We would like to add a master bathroom onto the master bedroom and we were wondering about how much this would add to the home in terms of value. Generic estimates I have found online suggest somewhere in the area of 20% of the current value. Is this correct?

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It would depend on which neighborhood in Town N Country (33615) your home is located. Also when you say "waterfront" do you mean salt water with a boat dock at the rear or do you mean a pond or a tidal access for a canoe during certain parts of the day. True Saltwater frontage with deep water access to Tampa Bay will certainly justify adding the room and bath. Being on a pond, maybe not. A tidal canoe access, maybe..

You don't want to overimprove the house for the neighborhood and you may be better off buying a new home versus adding on to your existing home.

Also you have to consider the value of being able to enjoy having a 2nd bathroom until you eventually sell. It may save your marriage! lol..

Good luck.

All the best,
Alma
Alma Rose Kee, PA
Sold On Tampa Team
Future Home Realty
813.244.9898
http://www.SoldOnTampa.com
0 votes Thank Flag Link Sun May 12, 2013
We are on what is called "brackish" water, It is basically a large creek (Rocky Creek) which runs into Tampa Bay. We do have both a dock and a boat ramp and can be at the Courtney Campbell causeway by boat in about 10 minutes. Our neighborhood is quite an eclectic mix of houses with some valued at (and selling for) upwards of $200,000 to $400,000 and others valued at only around $130,000 or possibly a bit less. Most of that is land value with all of the houses being waterfront properties. Hope this helps!
Flag Mon May 13, 2013
Having more than one bathroom has become the norm for a "must have" for buyers. Having one and a half baths is the minimum in my market. So, selling a one bath home is difficult.
1 vote Thank Flag Link Sun May 12, 2013
Appraiser's usually try to use comparable properties to value homes. The first to variables they use are bedrooms and square feet. Once they find their comparable properties then they add and subtract based upon features like extra bathrooms, patios, garages, etc. unless the bathroom is adding 20% to the size of the home too, it probably is not going to add that much in value.
1 vote Thank Flag Link Sun May 12, 2013
Hard to tell Jenn. There is a special formula when it comes time to making an add on or a remodel for it to make sense from every angel. The questions really are: Do you love that neighborhood? Do you have a master design in mind,? Can your contractor take it from paper to reality? Do you have the cash to pay for all the trades, so they all will do their best? Most importantly will you be happy once all of that is done?

813-458-2324
1 vote Thank Flag Link Sun May 12, 2013
Depends on a number of factors, but probably it would increase somewhere around the amount that you actually invested in the upgrade.
0 votes Thank Flag Link Sun Jun 9, 2013
Even for the most modest of needs a one bath unit is a problem for most of today's buyers.

Value added is a difficult thing to project. But the addition of a second bath connecting to the master bedroom will definitely make your home more desirable and saleable. With this addition the home should sell for more. How much depends of too many other factors to be given serious consideration and would simple be "guess work."

It's probably best to view the addition from this perspective.

Good luck,

Bill
0 votes Thank Flag Link Sun May 12, 2013
There are so many variables in your question about what the new value to your home. I would encourage you to do the addition for the simple reason that a two bedroom one bath home is almost obsolete. Most buyers are looking at 3/2 minimum. The variables that you have to consider are the size and quality of the addition. I would assume that you would have all of the proper permits pulled so the improvements can be documented and proved to be up to current code. Usually your best return on investment is up grading the bathrooms and the kitchen. If your goal is to resell in the near future you might want to touch up the other bathroom and the kitchen. Good luck
0 votes Thank Flag Link Sun May 12, 2013
Jennifer,
20% seems a very optimistic evaluation.
The end result depends entirely on the quality of the master bath addition AND competing homes for sale.
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Will the added bath COMPEL the new owner to update the rest of the home (if needed)?
Will the master bath be porportional to the remainder of the home?
Is this home located in an age restricted community?
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Your Realtor (r) will be able to compile the statistics regarding recent sales of 2/1 and 2/2 homes in your area to give you a real look at what the market is valuing most.
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If you choose to proceed with the addition, make certain the quality of the work will endure the inspection of a discerning buyer.
0 votes Thank Flag Link Sun May 12, 2013
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