Should I upgrade by 1500sqft Soho loft from 2bed/1bath to 1.5 or 2 bath? How much would a half/full bath add to my resale value?

Asked by jamesone1, 10012 Fri Jan 3, 2014

-Located in Soho
-currently 2bed/1bath
-Turning a closet into a new bathroom, debating whether to do half or full bath
-half bath would cost 47k, full 58k

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5
jamesone1, Home Owner, 10012
Fri Jan 3, 2014
Thanks everyone. To give more color, my current full bathroom is only accessible from living room (entrance is near my bedroom door, but not officially en-suite). The second bathroom that debating would also have it's only entrance from my living room. Not sure if this changes answers at all.....
0 votes
Masha Sales, Agent, NY,
Fri Jan 3, 2014
Yes, absolutely, we had 1.5 baths for a loooong time and finally gutted the whole apartment and build a new full bath, life is good now:) Unfortunately we love our home so much now, i dont think we will ever move. The idea was to renovate and sell, but i dont see its happening any time soon. Renovation was a pain but i actually enjoyed it as well, getting to know all the details, getting it all work together, and now we have a really great home:)
From real estate point of view, 1500SF deserve 2 full baths, again, it would depend on your floor plan but just based on sqft, you should build a full bath.
Good luck and hope it helps,
Masha

Masha Sales
CitiHabitats
37 Third Avenue NYC NY 10003
Mobile 917.658.3667 | Direct 646.398.6108
masha@citihabitats.com
0 votes
Robin Silver…, Mortgage Broker Or Lender, Garden City, NY
Fri Jan 3, 2014
You have gotten good answers here, however there are 2 different issues. You will add to resale value, however the appraised value will not increase the amount that you will have to invest to add the bathroom, whether full or half.

The big question also is how much longer do you expect to own the apartment? Are you doing this strictly to increase resale value, or do you want to have use of the extra bath, whether full or half, while you live there? Also, the length of time on the market could vary if you have more than 1 bath. Even when it comes to rentals, having more than one bath, especially when there are 2 bedrooms, is a big plus. If it can be done, it certainly isn't going to hurt, but I don't think it's worth doing just to put it on the market as soon as the bathroom is completed.
0 votes
Tania Arias, Agent, New York, NY
Fri Jan 3, 2014
Hi James,

As a real estate professional, I suggest that, before you move forward on building a bathroom, you check with your building regarding the rules and regulations that govern "wet over dry". Most buildings do not allow "wet over dry" meaning that plumbing and water related improvements need to be compatible with the lower floors' location of such spaces.

Once you have the approval for such an improvement, it is my professional experience that bathrooms always add value to your property, if done correctly. This does not mean going full-on high end, just comfortable, usable, elegant and in the right location.

I hope this helps! Good luck!

Tania I. Arias
Licensed Associate Broker
The Corcoran Group
660 Madison Avenue
NY, NY 10065
tania.arias@corcoran.com
0 votes
Karen Cheung, Agent, New York, NY
Fri Jan 3, 2014
Hi James,

I'm a real estate agent and an architect. It's difficult to judge value of the 1.5 bath vs 2 bath for your loft without seeing plans and how it really adds value to your home.

Where is the current bathroom? In the common space I assume? Where would the new bathroom be? If it is still accessed from the common area, then a half bath should suffice. If it's ensuite to a bedroom, I would suggest a full bath.

Either way, if the bathroom is costing you 47-58k, you may want to think about asking a real estate professional to run a comparables check for your area, market (mid or lux) to see if the bathroom will add enough resale value to make your addition worth while.

It's difficult to just throw numbers here without understanding more. If you are thinking of selling or need further info, please feel free to contact me directly.

Hope this helps.

Karen Cheung
917.334.9544
kcheung@citihabitats.com
0 votes
Thanks Karen, shot you an email
Flag Fri Jan 3, 2014
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