When you do any renovation at all you have to decide why you are doing it. Are you doing it to add value to the home or are you doing it for yourself. What ever you do, you'll want to be sure it's done well and professionally. When you go to resell your home are the majority of buyers going to see the value in your renovation that you do? I live in the Lutherville area and have sold a lot of houses. A lot of buyers in the area are professionals with families who find value in having a master bath, the demand is for 3 and 4 bedroom homes with 2 to 3 bathrooms. The third bathroom doesn't necessarily need to be on the main bedroom level and it can be a half or a 3/4 bath. You may find having a 3rd bathroom on the bedroom level isn't necessarily going to add as much value as it would cost and might not make your house sell any faster.
You ask a very good question -- and one that does not have a simple answer, unfortunately.
An extra bathroom upstairs, if done well, often may add value. It sounds like the previous owner is the one who removed a bedroom already, right? So you would still only have three bedrooms upstairs/above grade.
I don't know if the extra bathroom would add the value you are looking for, in terms of what it may cost you. If you are doing it for your wants and needs, and three bathrooms is important to you, then that is a different story.
If you are looking just for value added, then you don't know what may happen. There may be buyers who would prefer that 4th bedroom that is no longer there, and that would add more value than the extra bathroom for those buyers.
Do it based on what YOU are looking for. If you want to stay for some time, and the third bathroom would make your life easier and happier, then do it for you.
I wish there were a definitive answer, but there isn't -- you never know where the market is going to be when you are ready to sell.
If you'd like to discuss more, I would be happy to help. My office is right in Timonium, and it is an area where I specialize, and have for over 15 years.
Thank you! Good luck!
Keller Williams Excellence Realty
Here is a little info to look at regarding 3 or 4 bathrooms: Hope this helps ...
Should you have additional questions, I would be happy to take a look at your home and give you my thoughts.
Keller Williams Select Realtors
410.982.3476 / 443.261.1100
My niece sold her house in 21093 back at the end of May and got great money. It was a 3 bedroom 1.5 bath, but everything was done top of the line and for a smaller home they got $325,100. So it is not always the # of beds and baths but the quality of the work that attracts people. By the way we had 5 solid offers in 3 days and they were on their way to a new home.
Prudential Homesale YWGC Realty