Will turning a bedroom into living space lower value?
threepinktrees
9 years ago
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Comments (25)
threepinktrees
9 years agoRelated Discussions
How much value is lost when combining bedrooms?
Comments (8)Were you in Anchorage for the crash in the mid-1980's? Our market has only recovered from that in the last 7-8 years. It took approximately 15 years for prices in Anchorage to return to the 1985 level and they only passed that 7-8 years ago. We had a condo on the bluff out by Kincaid park. In 1985, the appraised value was $100,000. In 1986 when the crash hit, the appraised value was $39,000. A loss of $61,000 in one year. It took until 99/2000 for those units to again sell for $100,000. We sold in 2004 for $130,000, so that was the period prices really starting gaining ground. So, I'm not sure where you are coming from with a strong market for the past 20 years. I believe prices have peaked here due the glut of homes on the market, compared to 3 years ago. When we sold our house in Bayshore, there were 34 homes in the ciy in that price range. Last time I looked at MLS a few weeks ago, there were over 200 in that price range. When we bought this house in College Village in March of 2004, average days on the market for this neighborhood was three or less. Now, houses in here are sitting for over six months before selling. We've had a large push for interest only ARMs and people in houses that can only afford it that way. With the sub prime market going South very quickly, I believe we could again see a real estate crash here. Not as severe as during the '80's, but the forclosure rate is going up. I'm not aware of any tax penalty on a loan. I asked the DH, who is a CPA, and he said it sounds like you mean a pre-payment penalty. Would that be correct? Gloria...See MoreFixed sqft: Which adds more value extra full bath or large bedrooms?
Comments (14)Personal opinion and nothing else: Typically I'd say "make the bedrooms smaller -- I don't spend much time in there anyway"; however, in either situation, you're talking about small bedrooms -- is the master one of these small bedrooms? My kids have 12x12 rooms, and over the years my girls've had 1 twin ... 2 twins ... and 1 double ... but never anything bigger, and you're talking about smaller rooms! Add-on question: What kind of closets do these bedrooms have? A bedroom with plenty of good storage can be smaller and still be comfortable, whereas if your closet is modest, you need space for larger dressers and other storage. Having said that, if you're a typical 4-person family, I don't really see the point in having more than two bathrooms. They're expensive, high-maintenance rooms -- I want enough bathrooms for comfort, but I don't care to over-bath myself; I just don't enjoy cleaning toilets that much. An outside-the-box thought: If you'd JUST build the third bathroom for resale, you might consider leaving that room "empty" /use it as storage ... and in the future you'd have the option of finishing it off yourself ... or it could be presented to future buyers as "a room that could be renovated into a bathroom". That would also allow the future buyers the option of using that small space as a pocket office, a craft room, or whatever ... if it suited their purposes better. In conclusion, I suspect the 4/3 layout would be better for you at resale time ... but you're talking about trying to guess the mind of some unknown person, which is impossible. Build the one that'll suit your family best now....See MoreTurning one huge room into 2 or 3 bedrooms
Comments (15)Sophie Wheeler, yes, it will be more than $1.98. According to the plumbers and my contractor, the septic is oversized so it will be fine. I will get another opinion though. I am not sure exactly what size it is. I have asked about building codes, and I am not scorning them. Zsmith, the real estate agents I talked to told me one giant room would not sell as well as having more bedrooms would. They also mentioned that since waterfront lots are scarce, people are adding on to their homes or building separate "cabins" for rentals. One of the agents sold a home like this very quickly in 2016. The main home had 1,050 sf and the garage apartment was even smaller. I looked it up and it sold for $276,000. It had never been updated and only had 1/3 of an acre which was waterfront, but with a steep drop to the water. The other agent said that people are adding cabins and A frames on their properties. We have no intention of renting to anyone. Insurance would be prohibitive. My contractor had to put a 35 ft beam in my living room five years ago. I don't know if he talked to an architect, but he did talk to an engineer. They also cut out some sheetrock in the garage ceiling and found a 12 inch support beam there. He said he would add another one if we add the bedrooms, but I don't know where he will put it. I am sure I drive him crazy with all the questions I ask and all the research I do. He will be replacing the vinyl siding with Smart Board in a few weeks. I researched it for days then I started asking him questions to see if he knew the requirements for installation/warranty. He did. Before anyone says anything about me not treating him like a professional, I have learned to ask questions because there are a lot of "contractors" where I live that are self taught. We ask for and check their licenses and insurance; even the company that cut down 17 pine trees had to be insured before we hired him. We went through about 7 or 8 electricians before we found one that actually knew what he was doing and had a license. We spent a couple of months searching for a certified roofer. He was located almost 2 hours away. We are very careful with codes and safety, and we don't take short cuts. The contractor hasn't given me a diagram of the upstairs bedrooms yet, but I wanted some idea of what homeowners would think about weird angles and small bedrooms. We might not even put bedrooms upstairs. After the siding, our next project is removing that awful popcorn ceiling in the bedrooms and upstairs. We already had it checked when we sent off samples. No problems removing it thank goodness! Anyway, if anyone has any thoughts about the proposed bedrooms with angled walls please let me know. I tend to think things to death before I decide what to do. You can tell that by the 20 different paint splotches on my living room walls. Just can't decide on a color....See MoreWould a Murphy Door add value? (Historic Home. Bedroom w/o a closet)
Comments (14)I think it would be a bad idea to turn an entry door into a Murphy door. You'd hate it every time you had to walk through it and deal with the bulkier door. And I assume it would be in-swing, with the closet part on the back? So you'd have to close the door to access the clothes. I think the point of a Murphy door is to hide contents within the walls. This wouldn't do that. If it is something that would provide value to you, then consider doing it. Don't do it in anticipation of selling the house for a higher price. That's my general advice for upgrading a house. Don't do things you won't use/enjoy just for future buyers. And don't not do things that will help you enjoy the house just because a future buyer won't likely pay for it. The main things to ask the "resale value" question on are things that might devalue the house. Try to avoid those....See Moremelle_sacto is hot and dry in CA Zone 9/
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