We have a 4 BR /1 &1/2 BA colonial in Cumb. RI. Wondering if it is worth expanding out one of the BR and making it a Master Suite with modest BR.

Asked by Kate, Cumberland, RI Thu Jan 20, 2011

Our house is one of the least expensive on our street (by about $20,000) mainly b/c less bathrooms. We could also convert one BR into BA/walkin closet and connect it to existing BR and avoid the addition. It would be cheaper but would then be loosing a BR (giving us 3BR/2&1/2BA)

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Anastasia Ka…, Agent, Cumberland, RI
Sun May 15, 2011
Hi, Kate,
Your location and situation sounds wonderful given the fact that you are the least expensive home on the street! It's always a negative to eliminate a bedroom since that is one of the biggest factors considered when purchasing a home. I would think really hard before making the master suite you suggested.
However, if you are staying in your home for quite a long time, then this renovation may be worth it to you for quality of life. In that case, having a nice size master with connecting bath is always wonderful to have. Also, I am finding that many of my buyers look for this master suite in the homes they are buying. It's very popular and almost expected. Feel free to contact me anytime at 401-338-2749 with any other questions. Regards,
Anastasia
0 votes
Dallas Texas, Agent, Dallas, TN
Thu Feb 10, 2011
It depends on the amount of time you prefer to reside in the property. If you are looking at yearsssss could be a great option convert home work with your lifestyle

By adding an additional bath would have value over 1 1/2 bath


Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes
Al Pratte, Agent, Providence, RI
Thu Feb 10, 2011
Hi Kate,

If your house is similar to those around you, then having less bathrooms is not a major problem. Sure you could convert a BR to a BA/closet, but having less BRs is a bigger deal, especially if the homes around you are 4BR homes. Not to mention that the conversion may disrupt the flow and appeal of your homes' natural layout. When people are shopping for a home, location is the biggest "turn on" and having less bathrooms can be overlooked when compared to the right neighborhood. You mention that your house is the least expensive by about 20k but that difference can be smaller when a neighborhood is attractive to potential buyers. Hope this helped. Feel free to contact me if youwould like more information.

Cheers,
Al Pratte
Broker/Owner
Market Properties
401-331-0100
alpratte@marketpropertiesRI.com
0 votes
Bill Carey, Agent, Charlotte, NC
Thu Jan 20, 2011
A master suite is always a winner it is one of the highest returns on investments in real estate although it is well under 100%. Going down to 3 bedrooms is another story what is the makeup of your community mostly 4 bedrooms?

A big consideration is what going on in your market most of the US is still declining. You may lose all of your improvement $$ in one year if the rate of decline exceeds the costs. There are so many great deals in "short Sales" that selling and buying a larger might be the best choice. You can sell at a lower price and make it up on the buy side if you are flexible on loaction and time. We did it this summer lost a little on the sale a made a kiiling on the buy.

My wife and I live in a home we recently purchased as a "Short Sale" it was alot of paperwork and time for me the agent. But in the end the bank reduced the amount they were owed on the loan by $325,000 we got a great deal. The home did not need any repairs as most foreclosures do it was move in beautiful condition. With "Short Sales" be flexible with the location and your time to get the best deal.

Remember your agent will be doing a ton of work to put and keep the deal together but his/her effort will pay in the end many thousands to you

Thank you,
Bill Carey, Broker/Realtor
Certified Short Sale Specialists
Cell 704-905-0740
Fax 866-343-5945
Bill.Carey@HendersonProperties.com l http://www.HendersonHomesCharlotte.com
0 votes
Sharon Seabu…, , Wakefield, MA
Thu Jan 20, 2011
I would either leave the house the way it is or do the addition. Leaving the house as 4 bedroom and 1.5 baths is still a desirable home. A 3 Bedroom home is much less desirable for buyers these days. If you were to put the addition on and add a bedroom it would certainly add value to your home, but you do not want to invest to much in your home that you will never see the return on investment (ROI) when you go to sell it.
0 votes
Lori Rossi, Agent, Warwick, RI
Thu Jan 20, 2011
Hi Kate,

If you are considering this for resale value-then I would never advise eliminating a bedroom. 4 bedroom homes have a higher resale value than 3 beds. My clients are purchasing a 4 bedroom 2.5 bath in Cumberland due to close soon-they would not have purchased it if it was a 3 bedroom. It does have a master suite-but the bath in the master is not very large, no walkin closet. I would have a contractor take a look to see if there is another way to add a small full bath without having to add an addition. Usually, they can find a spot abutting the common bath on the second floor in a traditional Colonial. Email me if you have any questions.

Lori.Rossi@Nemoves.com
0 votes
Angela Dolber, Agent, Whitinsville, MA
Thu Jan 20, 2011
Hi Kate,

That's a tough question to answer - I would mention checking out the houses in the neighborhood, which you seem to have done already, so as not to over-improve your home compared to the others on the street. A 3 bdrm home is very acceptable with 2 1/2 baths if it compares to others on the street. But beware, you may not recoup the full value of what you paid to do the renovation (in other words, paying $15000 to do the renovation doesn't necessarily get you $15,000 more if selling the home in the future). Check out the link below from the Mass Association of Realtors on Cost vs Value for remodeling a home.

Angela Dolber
Prudential Prime Properties
508-826-8553
angeladolber@gmail.com
http://www.theDolberteam.com
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