Claire, Home Owner in North Augusta, SC

I am considering renovating my house to have 2 bedrooms & 2 bathrooms instead of three tiny bdrms and 1 bath. Which will sell better in the

Asked by Claire, North Augusta, SC Wed Nov 17, 2010

future?

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6
I wonder how much the renovation would cost. Two bedroom homes are tough to sell. I think you would benefit by having an experienced real estate agent take a look at the house and to have your quotes at that time. A market analysis and your quotes for the renovation would help answer that question.
1 vote Thank Flag Link Wed Nov 17, 2010
We never really know all the circumstances..... So do you want to renovate and live in it for a while but want to make sure that this is a better solution when down the road selling your place? Or do you want to renovate to sell in the very near future?

The best usually looked for homes are 3 bedrooms and 2 full baths, in general

But then the question is where would the 2nd bathroom be, does your home have a basement, is the rest of the home updated (kitchen, bath, windows, roof etc.) So your very best would be before you consider any major renovation to consult with an area experienced Realtor, who could also show you some homes similar to yours how they are updated and how they compare to yours..... listen carefully and take into consideration when you intend to sell, what you still owe to the bank, and how you would finance the renovation.... Adding a second bath, depending on where its location would be, may help you sell your
place, but have a Realtor look at the floor plan of your home, and get an estimate from several contractors
to have a good feeling of the expense needed to do any kind of renovation.

Take care and good luck
Edith YourRealtor4Life & Chicago Connection
Working always in the very BEST interest of her clients
EdithSellsHomes@gmail.com
0 votes Thank Flag Link Tue Nov 30, 2010
Little know facts from a Mortgage lender's perspective.

I am not sure how you plan to fund the renovation but here are some options.

There are lending options that can be research on HUD.gov called the FHA 203K and it's streamlined version. These loans allow for a purchase or repair project to be financed. This product knowledge could be used as a selling point in that you allow the buyer to do it their way. These programs are perfect for over coming objections on any property whether it is repair items, expansion, upgrades or just the new owner wanting to personalize the home to their taste. You do not have the ability, to my knowledge, to refinance if your home is currently or has in the last six months been listed. I would recommend informing your listing agent of this as a potential selling point and then contacting your local mortgage lender found through HUD to go over the details of the loans ability to help you in your sale. Best of luck!
Patrick Cashman NMLS#215938
0 votes Thank Flag Link Fri Nov 19, 2010
Hi Claire, A 3br/2ba home typically sells better and even a 3br/1-1/2 bath is better than a 3br/1ba. Not sure what your motivation is to do this but if you're doing this so you can enjoy your home more, than I recommend going ahead and make it 2br/2ba. A 2br/2ba would appeal to singles, couples, empty nesters, people who are downsizing, etc. If you're preparing your home to sell you don't want to over do it. You may want to contact a Realtor to get a market analysis of your neighborhood/area of what's on the market, what's sold, condition of homes that sold, etc....or you can search online records from county websites. I've known clients who knowingly over improved their homes for resell but totally enjoyed their home while living there. Either way, there's a lot to consider. Thank you.
0 votes Thank Flag Link Thu Nov 18, 2010
I agree that 3/2 is great, but that doesn't appear to be one of your options. What I can say without hesitation is that adding the additional bath is a great idea - one bath is a tough sell. If you can swing the 3/2 scenario, great (even if one of the bedrooms is tiny) whatever the case, adding a second bath will be a selling point in the future.

Best,
Jeanne Feenick
Unwavering Commitment to Service
Web Reference: http://www.feenick.com
0 votes Thank Flag Link Wed Nov 17, 2010
In most markets people want 3/2. That hits the most Buyer prospects.
0 votes Thank Flag Link Wed Nov 17, 2010
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