Converting a 1 bedrm to 2 bedrm - Is it worth it?

2 Replies

I have a large 1 bedroom apartment that I will be renovating next month. It is large enough to carve out a 2nd bedroom with some partitioning.  But the new 2nd bedroom will be on the small side and will not have any window. 

What say you BP.... should I go for it, or leave it as a 1 bedroom?

I could rent the 1 bed for 800-900. 2 bedrooms go for up to 1200. For this one I could probably get 1050-1100.

First, I believe code requires you to have a window before you can consider it a bedroom.

When considering a renovation, there's very basic math involved:

          Renovation cost divided by the increased rent = # months to recover cost

Example: it costs you $2,500 to build a new bedroom. You increase the rent $150 a month.

          $2,500 / $150 = 17 months

I can't say for certain without knowing the dimensions, cost, and the demands of your local market but I wouldn't recommend it based on what you've shared. The more bedrooms, the more people squeezing in and the more wear-and-tear on the rental. I'd rather rent a spacious 1-bed to a single person or couple.

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