As to the math of the addition, is the master on the first or second floor? What size will it be when finished? How will the bath be finished? Tub or walk-in shower? Or both? Liner or tile/rock? Will the walk-in closet be finished with built-ins or rods? Are you doing the work yourself, or is it being done by a company other than a family member? Are you taking part of the existing house for the additiion, or are you adding more structure to the footprint?
The values in your neighborhood will also help answer your question. Will this addition make your property the best in the neighborhood, or bring it up to a comparative standard for this type and style of house? Is this an addition for you, or are you trying to predict what others want? What is the condition of the rest of your property? Is it all current? Is it dated? Will this addition blend with the existing parts of the house or stand out? A large, comfortable, master with a new bath will be valuable.
The price point of the existing property, the quality of the work in the added spaces, the condition of the rest of the home, and the level that the master is on will all affect what that value is.
I'd be glad to give you a more specific idea of value if you have a specifi property in mind. Best wishes, Heath Coker, Robert Paul Properties. 508-540-9800
we converted our space over the garage to a walk in closet. It is great for living, plus will help on re-sale some day. Contemplated the bathroom, but couldn't do the expense at the time.
Yes, I would think that expanding your master bedroom and bath would increase the value of your home and make it more attractive if you choose to resell your home in the future. Buyers look for updated kitchens, baths, and master bedrooms. Not only will you increase the value but you also would make your home more enjoyable to live in currently.
I hope this is helpful.
Prudential Connecticut Realty
It is not only important to have a master bedroom suite, but also it should be on the first floor on Cape Cod as we are a retirement area.
The best investments you can make to improve your property is a first floor master with its own bath, or upgrade the Kitchen and Baths that are currently there.
You are one of 3 new clients that have asked this question in the past couple of months, so you are in good company.
After much thought, I have connected with a design builder who will take a look at the property, come up with a basic design that meets the homeowners needs and then I can determine the value of the exact proposed home. It is a very inexpensive way of deciding if your current property is a candidate for a remodel that matches your needs or a new home is in the cards.
To make this an informed and painless decision, please give me a ring for a free evaluation.
Thanks and Happy Holidays!
Katzenbach and Company
Generally, Yes. However it depends on what other improvements would benefit the property, and their cost/value improvement ratio. Kitchen and bathroom improvements generally deliver the best Return On Investment (ROI), but the lack of a Master Bedroom, or a small Master with no private Bathroom, etc., can greatly affect the marketability of the property.
We have helped many Buyers and Sellers in East Falmouth, and we would be happy to help you. Call any time, every day: 508-375-1000.
All the best,
Tuttle Team Real Estate
President's Club, Diamond Award, Top Producer
Someone else brought up a good point by what you mean by 'investment'. Are you looking to make an addition to then sell? Or are you planning on enjoying the home for 5+ years and then sell?
If you are planning to sell, have a local realtor come out and take a look at the home and tell you what it is currently worth and then what it would be worth with the addition. Then, you can make an informed decision.
Sarah Goulart Nathe
Buying or selling on Cape Cod or in Plymouth County? Call me for representation.
If you get to a point and would like to discuss these issues in more detail just let me know!
Today Real Estate
If you are planning to live in the house for a long time to come don't look at it as an investment, look at it as comfort and enjoyment.