2 or 3 bedrooms?

What would be the etter option-currently have a house that could easily be converted from a 2 bedder to 3 bedder. In return the lounge and bathroom areas will be reduced in size somewhat.

So is an extra bedroom always more attractive at the sacrifice of room in a bathroom and lounge area?
 
Propertunity - would you say ALWAYS? I was also curious to the answer of this question too. I'm not ready to buy just yet but am looking in a Melbourne suburb where I want to purchase next. Looks like I'm getting priced out of the houses, so might have to settle for a unit/subdivided block. I noticed a subdivided block had a house with 3 bedrooms but it had virtually NO land, just a very thin strip out the back - i.e. definately not for children or entertaining. This went for a similar price to a 2 bedroom unit which would have some back yard. My thinking first was 3 bedroom would always be best, but then would families be looking for 3 bedroom and want some yard? Plus don't people at least some outdoor area for entertaining these days? In this scenario, would you go the 2 or 3?
 
If your 3br is going to be pitched at families, you also need a bath (not just a shower) and decent yard space.

If you've got both of those, go 3. If not, stick with 2.

This reminds me of a 4br house I saw not long ago - was a decent size house, 4 reasonable sized bedrooms, but had a bathroom barely 2sqm with only a tiny sink and shower stall, a very small kitchen and a microscopic yard in an area where 1/4 acre blocks are standard. It had been for sale for a Very Long Time. Everyone was put off by the bathroom and yard.
 
IF you had a big sqm footage of your unit/apartment and the design allows for a 3 bedroom - then go for it, you will eventually be in a different price bracket.
 
Its an edwardian inner melb. No change to roof line-just converting lounge into 3rd bedroom and opening existing rear storage room into kitchen and moving bathroom. The bathroom will be small though-about 2m by 2m...
 
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3brm typically woth more than 2brm mostly. :)

Ok, by that, I pressume you mean land over 3rd bedroom in my example. I wasn't being a smart@ss or questioning you, as I respect what you say as you are very knowledgeable. :D I was genuinely asking, so thanks for clearing up what I was thinking might be the case.
 
I wasn't being a smart@ss
I know, but I would not mind if you were :)

or questioning you,
Oh I don't mind that either. On occassion I have even know to be wrong and am happy to admit it :eek:

But valuers value on comparable sales......and if they are comparing 3 bedders (yours) they will be comparing to other 3 bedders not 2 bedders which would typically be cheaper. Just like 4 bedders are worth more than 3 etc.

I have to run.....sorry for the short reply.
 
Thats what I figured-people when buying would tend to overlook a smallish bathroom in favour of a third bedroom as it just makes better value and sounds better 'I own a 3 bedder' etc..

Plus when renting if I rent by room obviously thats more $$$
 
I agree with Propertunity -- usually better value on a 3 bedder than a 2 bedder. However some other very relevant comments from other members too.

I would also think about what it is going to cost you to add the extra bedroom. You say you can easily do it which is good - hopefully that means inexpensively too. Remember to take into account not just a new wall, but flooring, lighting, reconfiguration of the bathroom etc...

Maybe check out real estate websites to see what other 3 bedroom houses in your area are selling for. Or get sales stats or talk to local real estate agents.

Next, compare the cost of the reno to the probable increase in value of your house to make sure it is actually worth the effort to renovate.

I advised a client recently who added a bedroom to their unit and took it from $270k (purchased under value) to $375k in only a month. And the cost of the reno was only $15k (renovated the whole unit for this amount). Their rental yield increased from 4.5% to 7.2%. A really good example of what is possible!

Hope that helps.
 
What would be the etter option-currently have a house that could easily be converted from a 2 bedder to 3 bedder. In return the lounge and bathroom areas will be reduced in size somewhat.

So is an extra bedroom always more attractive at the sacrifice of room in a bathroom and lounge area?

Depends on the people you are trying to attract.

If its an inner city suburb where the target is young singles / couples, the perhaps a 2 bedder with a bigger lounge (for entertaining is preferred).

However if you're targetting young families, then a 3 bedder is good, though at the very least i think you should have an extra toilet somewhere (maybe in the laundry).
 
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