ARV Impact Converting 3 bdrm to 2 bdrm
I'm looking into a 3 bd house that is under 1,000 SQF and the bathroom is rather small and can only fit a standing shower. Contractor is suggesting we convert it to a 2 bd to make the rooms larger, and more importantly, the bathroom nicer and able to fit a full sized tub. Will this lower the ARV b/c there are less bedrooms?
We're rookies so I'm trying to understand how this will impact ARV. We looked at comps and one house about 1/4 mile away was a little smaller than ours, with 3 bd and it had a really good ARV. We'd be looking to mimic the design/fixtures, etc. Only difference is they finished the basement and we won't, but from what I've read, a finished basement will only impact the ARV by 10% max on average.
We also don't want to go too crazy with the changes b/c we don't want an astronomical renovation bill. I told my husband that the bottom line is that the #s need to make sense.