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Answers (4)
- Bob Brandt, "BobBrandtRealtor"
- Contributions:1019
When buyers do a search for 4 bedrooms, yours would then be included with the higher priced homes, just because you put up a wall. This would be the easiest money or equity you ever made. I have seen it done before.
- Nancy Lee, "An OrderLee Home"
- Contributions:1195
If you are preparing to sell, that answer really does depend on your local market. I suggest you contact several RE agents - preferably people who have successfully sold houses in your neighborhood - and ask them for a cma (probable market value of your house as it is) and their opinion about adding a fourth bedroom. As Steve says, it is statistically unlikely that you will recover the full cost of making such a change, but the change should both bring a partial ROI and help you sell faster. As Zeta says, there are probably less expensive ways (with a higher ROI) to prepare to sell. On my website, in the science & art of staging, I offer pages of advice about preparing a house for sale. Please feel free to explore there.
- Zeta Cross, "ZetaCross"
- Contributions:126
With qualifications, I'd say definitely "Yes". Today's buyers prefer 4 bedrooms to 3. Meanwhile, go online or get a copy of Remodel Magazine and check the projected returns that sellers in your area get for remodeling projects. As the previous poster said, most people are lucky to get back more than 3/4 of the money the spend for remodeling. You are much more likely to get a good return if you do a quality job with a very attractive new bedroom: you'll want to have a lot of natural light and easy access to the bath. If you are planning to sell soon, don't do it. It would be smarter to spend a lot less money on a professional cleaning and staging of your house...store or get rid of 1/2 of your "stuff" (you can use some of that garage space!), paint the rooms neutral colors and do some landscaping for great curb appeal.
Are you planning on using the space for yourself? If you need a 4th bedroom and you're planning to use it for many years then go for it.
If you're thinking of adding the 4th bedroom simply for resale, then I would caution you to consider that most home renovations do not increase the value of the home. In this market, its likely that a 4th bedroom may help your home sell faster, but maybe not for an increase equal to your added investment. Google 'home improvement return on investment' for more information.
If you're thinking of adding the 4th bedroom simply for resale, then I would caution you to consider that most home renovations do not increase the value of the home. In this market, its likely that a 4th bedroom may help your home sell faster, but maybe not for an increase equal to your added investment. Google 'home improvement return on investment' for more information.
Should we add a fourth bedroom in the lower level of our atrium ranch home?
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