Property Q&A in 21224>Question Details

Toby, Home Buyer in 21224

I live in a 3 bedroom 1.5 bath city townhome and currently and am considering converting the smallest bedroom into a Master Bath/closet. Bad idea?

Asked by Toby, 21224 Tue Jun 28, 2011

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Answers

6
That depends on two factors, how long you plan on living in the home and, more importantly, the demographics of your neighborhood. Demographics first, if you live in upscale urban or near-in suburban neighborhood with a high percentage of empty nesters, singles and young marrieds without children, the change will be more desirable than a 3rd bedroom. If you live in a family neighborhood with lots of children it may severely limit the resale value.

Secondly, the length of time you plan to be in the home because you need to amortize the cost of the improvements which will only be partially recoverable upon sale and may harm the value of the property if the change is not suited to neighborliness demographics.

By way of illustration, I am an empty nester with no intention of moving in the next 10 years. i would do the change irrespective of what it might mean in the future.

Bob McGee
Advance Realty Timonium, Inc.
Home Office; (410) 560-4574
1 vote Thank Flag Link Tue Jun 28, 2011
Toby, I agree with others. It depends on what you are doing it for. If it is for you to stay in for a long time for your own sake, then go ahead and do it. But if you are doing it for resale value, it may not be in your best interest. I hope this helps!
Thank you!
Sincerely,
Marney Kirk
Keller Williams Excellence Realty
0 votes Thank Flag Link Wed Jun 29, 2011
The answer to your question really depends on how long you expect to live in the house. The longer you plan to live in the house and just want to make the renovations to improve the quality of your living, the better of an idea it would be. It makes less sense to live in a house the way that is best for resale, if you do not plan to do so for quite some time. Of course, plans can always change in a moment, but you would be best served to know just what is the difference in sales prices between 2 and 3 Bedroom houses in your area. Once you know the numbers, you can make a better informed decision as to whether your plan would make fiscal sense for you. One man's trash is another man's treasure and only you can decide what will work best for you, armed with the proper information in order to do so. Best Wishes!
0 votes Thank Flag Link Tue Jun 28, 2011
Toby,

Why do you think it might be a bad idea?

If you intend to sell the house, refinance, or you're concerned about your career going south (or all of the above) in the near future, then it may be a bad idea.

If you feel none of those circumstance are relevant, then knock yourself out and make yourself happy. God knows, many folks in this country have suffered enough over the last 4 years....

If you want a masterbath/closet, darnit, get yourself a masterbath/closet. If you need a contractor, contact me and I'll give you the name of mine. I use him to do all the renovations on the houses I buy, fix and flip. He's awesome.... and won many awards for his work. Except don't do it when I need work done of course :-) Don
0 votes Thank Flag Link Tue Jun 28, 2011
In my opnion the resale will go down. It all would depend on the other house in the neighboorhood if they are 3 it would really hurt. You are loosing a bedroom and in most cases a 2 bedroom is harder to sell then a 3.
0 votes Thank Flag Link Tue Jun 28, 2011
Many factors play into that decision. I would be happy to consult with you on that idea.
0 votes Thank Flag Link Tue Jun 28, 2011
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