Value added by remodeling a half bath into a full bath.
Hoping to get some general advice as to how much value I can add to my property by converting a half bath to a full bath. I plan to refinance in a year, and hoping to increase the value as much as possible.
My good friend is a professional (certified) plumber and is able convert my half bath to a full by installing a shower and replacing the toilet and vanity for ~$2,000 (all materials and labor included). The thought process is that at this price point, it makes a lot of sense...
The property itself is a side by side duplex with 3 bedrooms and 1.5 baths on each side (1,500 sq feet per side). For context, it appraised for $225k earlier this year.