STR Choices: 4th Br or Entertainment Room?
Closing on a property in the Smoky Mountains and my business partner and I are trying to decide what to do with it before we list on Airbnb.
There’s a loft on the second floor and we’re deciding between converting it to a 4th bedroom, or turning it into an entertainment room with pool table, projector, movie chairs, etc.
Do you think we'll make more money as a 3 bedroom STR with a hot tub and entertainment room, or a 4 bedroom STR with a hot tub? Thanks for your feedback!
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Why can't you have hot tub and 4th bedroom. Surely you are not putting the hot tub in the loft?
Depends on size of room. Having a game area in the loft could allow noise to bother people watching tv in the downstairs living room.
If there’s space you could do both. Game area with twin over queen bunk and a trundle in the corner.
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I vote for the game room. Having more 'heads in beds' can be overrated. Provide that extra entertainment value....
So a 3 bed with theater area, pool table - add an xbox to that theater setup, add a multicade in there and that will do better than a 4 bed that doesn't have that setup. Amenities beyond the average (average in that area is everyone has a hot tub and multicade) trump bedrooms all day long IMO.
@Jimmy Woodard I've seen cabins with a pool table and a bunk bed, and an arcade in the corner.
Congratulations on getting an offer accepted. Do you have a real estate agent you recommend? I have been having a hard time getting an offer accepted. Was it an off-market deal?
Entertainment room
@Jimmy Woodard how about entertainment room with bunk beds and/or pull out sofa? I could see the kids having a fun and all crashing with each other.
@John Underwood the question isn’t the hot tub, we’re going to get one either way. It’s what to do with the loft, turn it into a 4th bedroom or leave as is and convert to an entertainment room
@MELANIE FELICIANO I’d recommend Levi from the Short Term Shop, but this specific property was an off-market deal.
@Jimmy Woodard
4th bed room. It allows for better sleeping arrangements for multi generational travlers or otber such groups. From running numbers iI want my STRS to be 2bed or 4 plus. The profits are better there.
@Jimmy Woodard I own three in the Smokies. I think some sort of game area is expected there. Two of mine have bunks in the game room and I rent them as a 5th bedroom. I just disclose they share space with the game room.