Home Selling in Edwardsville>Question Details

G Hessel, Home Owner in 62025

We have traditional brick 2 story, 4 bedrm, 2 bath up, open kitchen/breakfast/fam rm w/ traditional dining room, living room, 1/2 bath on main.

Asked by G Hessel, 62025 Mon Jan 7, 2013

Have considered remodeling living & dining rooms into master suite for our benefit. Wondering what this would do to market value.

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So you already have 4 bedroom up stairs? And if I understand it you are considering adding an additional master bedroom with bath to the main level for a total of 5 bedrooms but at the expense of formal living and dinning room. Lets take a look at the demograph of who buys a 4 bedroom- people with children - at least 2 . If they are small the parents would want to be on the same floor. Are you in the price range/ and area of professional people who have small children? around 260 -325 They would also enterain - so very likely to want that formal dining room and living room for adults - family room for kids. If you increase by 1 bedroom you are changing the demograph to at least one more child and older children at that.(parents want the same floor as smaller child) So if a family has 3-4 - 7 and up year old kids they are really going to need some space to live.- ie big dining room table ect.. Is the kitchen/breakfast family room going to be big enough comman living for a family who would want 5 bedrooms? Sounds to me as if you are going to take a perfectly working floor plan that appeals to 80 + % of your target buyers and make it functionally obsolete to most of the population (= long time on the market= less $ in the end) Better think on that. Money (interest rates) are cheap right now. Maybe consider cashing out of a house that is not working for you and selling it to someone with a timely purchase. If you would like a valuation of home in present state vs. altered floor plan I would be happy to consult.
0 votes Thank Flag Link Mon Jan 7, 2013
Go for it, but allow a degree of flexibility for the next owner.
0 votes Thank Flag Link Mon Jan 7, 2013
Hi, G:

If you're planning to "age in place," then this sounds like a great idea and it should make the home much more convenient for your use over the long run no matter what your age. If you're planning a move in the next few years, you'll want to consider how the change impacts the floor plan carefully. My buyers have been less and less interested in formal rooms in recent years, but make sure your remaining public space is big enough to not feel cramped with the removal of those rooms. Best of luck!
0 votes Thank Flag Link Mon Jan 7, 2013
If this is for a long-term situation because your family isn't going to move from this house for a while, then that could work well. A master suite on the main these days is a plus for many buyers. What you are losing is the formal living room and dining room. Negative here is losing a dining room. I find 50% of my buyers don't care so long as there is an open floor plan with an eat-in kitchen. The other 50% of buyers who have dining room furniture, large families to entertain etc. still want the dining room.
If you have a good sized den and a good sized kitchen, this plan of yours may not really effect the market value of your home, but I have always suggested to clients before doing such a major change to the floor plan of their home, consult with a couple of local Realtors and see what they would suggest. It really depends often where your house is and what is the age group of buyers looking in your neighborhood - what do other houses have in the neighborhood.
0 votes Thank Flag Link Mon Jan 7, 2013
If you are planning on staying in the house for a while; you should concentrate on the current occupants.

You cannot do things for the next owners; you can't make everyone happy and you'll drive yourself crazy.
This is supposed to be one of the primary benefits of owning a home; having it fixed up the way YOU want it.

Having said that, it would have to be seen and visualized for a good opinion:
If you would still have a big Family Room; you won't miss the living room.

Do what makes you happy!
0 votes Thank Flag Link Mon Jan 7, 2013
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