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anyone know if this will increase or decrease the value of our home?

purbeast0

purbeast0

No Lifer
my wife and i bought our first house last year. it's got 5 bedrooms total. the upstairs consists of 4 bedrooms in an L shape prety much. there is one bathroom in the hallway, and then in the master bedroom there is another bathroom. the master bedroom also has a smallish walkin closet. the master bedroom is at the end of the longer part of the L. the 5th bedroom is on another floor so it doesn't really come into play here. this is a home built in the 60's so it doesn't have huge bedrooms by any means.

right now too, the way the master bedroom is setup, is that right next to the bathroom is the walk-in closet. they each have their own doors so it's not like you can get to one from the other.

while we have no kids right now, we are planning on having a kid, and 2 at the most.

what we want to do, and will probably do regardless of what it does to the value of the house, is knock the wall out between the master bedroom and the one next to it to make a larger master bedroom. we will probably make some type of larger walk-in closet as well, or have one of those "open closet" type of closets. we also want to then knock out the existing walk-in closet, and expand the bathroom to make a larger bathroom because it's pretty small right now. i pretty much use the other one upstairs and my wife uses that one.

so my question is, would something like this generally decrease or increase the value of a house? or is it kind of just totally up in the air? on one hand, we're making it 4 bedroom instead of 5, but on the other hand, we're making the master bedroom more of a suite style, and also making the master bathroom much nicer as well.
 
Toss, up 5 bedrooms would probably get more hits but for comfort a 4 bedroom with bigger rooms, specially bath and closet are pluses in my mind. But don't listen to me I ixnayed a fireplace from our small townhouse so I could have somewhere for a TV even though all realtors say you need a fireplace when you want to sell. How many people use a fireplace? The realtors make is sound like a fireplace is a deal breaker for most people. I had no problems selling my townhouse in a down economy.
 
It depends on the buyer really. If someone needed a 5 bedroom home yours would be immediately eliminated from the running. However, the sq footage will remain the same and the larger master suite might really appeal to some buyers.

I doubt it will negatively affect the value of your home and depending on how you do the remodel it may increase the value.
 
I just don't think there is a lot of demand for 5 bed houses so I think 4 bed with bigger master would be more appealing. WTF do I know though. Do you also have an office already? Because if you do the only people interested in a 5 bed house would be parents with 4 kids and who does that anymore?
 
I don't think it will even affect it, other than change which buyers you are targeting. Those looking for 5 bedroom will skip over your house, but plenty of people can do with 4.

I wouldn't even think about it.
 
JulesMaximus said:
It depends on the buyer really. If someone needed a 5 bedroom home yours would be immediately eliminated from the running. However, the sq footage will remain the same and the larger master suite might really appeal to some buyers.

I doubt it will negatively affect the value of your home and depending on how you do the remodel it may increase the value.
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yeah that is kind of what i am thinking, that it may attract more of a certain type of buyer, but detract more of another type of buyer.
 
Tweak155 said:
I don't think it will even affect it, other than change which buyers you are targeting. Those looking for 5 bedroom will skip over your house, but plenty of people can do with 4.

I wouldn't even think about it.
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oh we're going to do it regardless, i was just more wondering what kind of home value effect it could have since i'm a nubber to this stuff.
 
Only thing I would suggest is thinking about if it is worth it. If you plan on staying in that house for a long time, then go for it. If you have lots of other small things you don't like about it, save up and look for a new place while putting up with it for a little while.
 
Tweak155 said:
Only thing I would suggest is thinking about if it is worth it. If you plan on staying in that house for a long time, then go for it. If you have lots of other small things you don't like about it, save up and look for a new place while putting up with it for a little while.
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oh no, there is nothing about this house we don't love and no other work we're even considering to do to it other than this. we don't even need to do this by any means, we would just like more room in there, and it isn't like we need all of the extra space.
 
5 bedroom? you running a brothel? it's really unusual, in my limited experience, to see a 5 bedroom unless the house is over 3500sqft.

typically, i've seen 4 bedroom homes using that 4th as an office.
 
purbeast0 said:
oh no, there is nothing about this house we don't love and no other work we're even considering to do to it other than this. we don't even need to do this by any means, we would just like more room in there, and it isn't like we need all of the extra space.
Click to expand...

Well then, get to work!
 
iRONic said:
Comps are good. You'll likely see an uptick in value. Along with a higher assessment...
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yeah there is a 4br up the street from us like 2 houses, and they are asking $130k more than we paid for our house last year. we really hope it sells at that price lol. and we saw the open house of it, and while it's really nice inside, it's not quite as nice as ours is.
 
purbeast0 said:
yeah there is a 4br up the street from us like 2 houses, and they are asking $130k more than we paid for our house last year. we really hope it sells at that price lol. and we saw the open house of it, and while it's really nice inside, it's not quite as nice as ours is.
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You live in the DMV area right? (seem to remember that but could be wrong)

If so, you will likely see a very small hit or possibly an increase in value. More likely is an increase in value as 3-4 bedrooms are most popular in this area and a large master bedroom suit is appealing to many people.
 
mnewsham said:
You live in the DMV area right? (seem to remember that but could be wrong)

If so, you will likely see a very small hit or possibly an increase in value. More likely is an increase in value as 3-4 bedrooms are most popular in this area and a large master bedroom suit is appealing to many people.
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yeah, in rockville, md.
 
I just don't see the appeal of larger bedrooms. It's a place for sleeping and screwing. Why does it need to be a larger space for this, than other spaces that serve the exact same function?

I can get making a larger closet for the lady, or possibly using that space to improve that bathroom, but just increasing the floor space of the bedroom?

It seems to me that the extra bedroom adds more value--office space, music room, a zoo to display all of your pure beasts, etc.
 
zinfamous said:
I just don't see the appeal of larger bedrooms. It's a place for sleeping and screwing. Why does it need to be a larger space for this, than other spaces that serve the exact same function?

I can get making a larger closet for the lady, or possibly using that space to improve that bathroom, but just increasing the floor space of the bedroom?

It seems to me that the extra bedroom adds more value--office space, music room, a zoo to display all of your pure beasts, etc.
Click to expand...

well a bedroom should also be for changing and getting ready for the day. and this is the kind of "walk-in-open-closet" type of closet we're thinking of doing with the extra space.

http://hgrm.sndimg.com/HGRM/2011/08/23/RX-CEDIA-2011_large-walk-in_s4x3_lg.jpg
http://www.thelifeofluxury.com/images/la_closet_design_luxury_closet_1.jpg

something of that nature, where it would kind of be part of the room itself.

i also don't like bedrooms that have "paths" you have to walk through in order to get around, because with the bed and furniture, there simply just isn't that much room. ours isn't anything like that right now, but right now we don't even have dressers in our bedroom - they are in one of the other bedrooms so that we can have space and not feel cramped in our bedroom.
 
zinfamous said:
I just don't see the appeal of larger bedrooms. It's a place for sleeping and screwing. Why does it need to be a larger space for this, than other spaces that serve the exact same function?

I can get making a larger closet for the lady, or possibly using that space to improve that bathroom, but just increasing the floor space of the bedroom?

It seems to me that the extra bedroom adds more value--office space, music room, a zoo to display all of your pure beasts, etc.
Click to expand...

But this is an older house so the bedroom might be cramped with only a bed and a couple of dressers. Otherwise i agree with you which is ironic since my bedroom is twice as big as it needs to be. I would have preferred to take that space and put it into a larger living room (but not another bedroom since we already have 4).
 
Rather than solicit useless speculation, your best bet is to call a real estate agent that you are friendly with (maybe the one you dealt with in buying this house) and ask him or her. They will know the local market which is perhaps the MOST significant variable.
 
Making a change like that probably won't influence your property value much. But, it would definitely be a selling feature that could attract buyers and make it more likely you'll get more offers.

Do you not plan on living in the house long? If not and you plan to live there for quite some time (10 years or more) then don't worry about home value.

If you're only going to live there short term, don't worry about renovating. You won't get long to use the renovation and you probably won't earn any of the money back when you sell.
 
Check with your town zoning and tax assessment office. By "downgrading" to a 4 bedroom house, you may be assessed at a lower tax rate. Something to consider.

I also think that if you are going to sell this house in the future, large bedroooms and bathrooms drive sales and gain buyer attention. What is the sq footage of the home?
 
It will decrease the value but not by much. HOWEVER it will increase your buyers pool.

If you are doing it for yourself, ignore the value. Your decision can easily be over written by market going down or some other risk.

House is a place to live, not an investment. If it turns out to be an investment, that's great/added bonus.
 
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