Ultimately Patrick is correct. I would suggest before you make any changes to ask a Realtor to take a look at your home. Again, Location will make a tremendous difference, ie: if you are around the University the market could be to some of our out of town Alums that want a place to stay on game days.

Generally speaking the buyer pool for a 2 bedroom is much less than a 3 bedroom. I agree. The only way I see this potentially working for you is IF your location is such that it could be used as a secondary / vacation home AND you make the master bedroom into a wonderful retreat (hardwood flooring/well lit/larger than 15x15 would be nice-as examples). In addition, it would help if you could describe the house as "charming"...a truly charming home has a broud appeal...terrific curb appeal/architectural interest/stainless appliances in the kitchen would all help to add value. Good Luck!

Although a nice master bedroom would be nice, you probably would end up limiting the buyers pool which in turn could actually lower the value of your home.

In this part of the country that would be detrimental for re-sale value. Appraisal isn't quite as important as the re-sale value and that is set by a buyer. How many 2 bedroom houses do you see in your neighborhood and what is their selling price (not asking price but what did they actually get for their home)? How fast did that house sell? You should go to a couple of house selling websites and look (pretend you're buying) for homes using the 2 bedroom scenario in your part of the country. That might give you a free idea on what the house value would be. Good luck! Cher

I called an appraiser that has been in the business for quite a long time. In his professional opinion it seems that it would have more of a negative affect on the appraisal value than a positive one. Some factors that would need to be considered are...what is the square footage of the house? Was there a garage that was closed in to make the 3rd bedroom? Does it have a garage on it now? What are the other houses in the neighborhood like? Also will you be financing these repairs or doing them out of pocket? It seems that the cost to make this change would not be recouped if selling in the near future. Also there is a larger demand for 3bd/rm than 2 so it could affect its marketability as well. Hope this helps.

It could, but an appraiser would have to answer that part of your question.

It could also affect the marketability when it comes time for you to sell. It decreases the number of potential buyer and makes the house harder to sell. In my experience, most people now want at least 3 bedrooms and 2 baths, and some want 4 bedrooms so they can have an office. Much depends on the needs of the buyers, but even retired "empty nesters" generally like to have both an office and a guest room these days. People with children at home need more bedrooms not fewer.

Ultimately it depends on the house and what it will look like after the remodel. Also where it is located. If it is near the university, it could be that the home's marketability will not be affected. Or--depending on your budget--it may be better for resale value to add on to the house (expand the master bedroom you already have plus add a nice master bath).

Just my 2 cents....