Adding value or not?

Question

The house is a 4 bedroom, 1 1/2 bath colonial.  The four bedrooms are all on the upper level of the house and they all share one bathroom.  Would it add value or take away value if I turned a smaller bedroom adjacent to the master bedroom into a master bath and a walk in closet.  It has neither as of now.  This would make my rehab now into a 3 bedroom 2 1/2 bath.  Any advice?

J Scott · Answer

It would depend on the area and the comps for each sized house.

That said, we had a house recently that had a *tiny* master bathroom and an adjacent master closet.  We decided to expand the master bath by combining the closet and the existing bath, but then we lost the master closet.  We took the 4th bedroom, which was adjacent to the master bedroom, connected it to the master bedroom, and turned that into the 150 square foot master closet.

Was a big selling feature...

Trevor Martin · Answer

Every area is different; it's hard to tell whether or not this is a worthwhile improvement in yours. Look at some comps in the neighborhood, both 4/1.5 and 3/2.5, and try to determine if the added value will surpass the remodeling costs.

Personally, I would prefer the 3/2.5, but it's your buyers/renters that matter :)

Patrick L. · Answer

It would depend on the demand in the area but generally that would be a worthwhile improvement.  Many older homes have tiny closets and bathrooms and buyers would definitely appreciate a large master suite with a walk in closet and new bathroom.  I wouldn't turn a 3 bedroom into a 2 bedroom but I'd have no problem taking away a 4th or 5th bedroom.

Jon Klaus · Answer

Most generally, I think this would help value. The trend is more bathrooms and less bedrooms.  No one builds new 4/1.5s these days.  They do build 3/2.5s.