3 bedrooms or 4??

[fred]

Hi,

We've just bought an IP and have been considering changing the layout a bit. At the moment it has 4 bedrooms. The master is quite big and has built-ins and ensuite, however the other 3 bedrooms have no built ins and are quite small (2.9 x 2.9). The current layout would allow the 3 small bedrooms to be turned into 2 with built-ins (leaving 2.9 x 3.2 of floor space), and the leftover from the ex-4th bedroom would join an existing family room to make that a decent size ....without too much wall rearranging I think!
We've planned to do this since we first started looking into the place but I'm now getting cold feet (1 week out from taking a sledge hammer to the place).

So..that's when I got on to the net with the "3 or 4 bedroom?" question in mind and came across this forum. What a find!

Any advice/ideas/thoughts would be greatly appreciated.

Thanks very much.

Oh...our plan is to keep it for a few years and then sell - so I guess we are interested in what both tenants and eventually buyers would like. Some other details about the place: it's on a 'family size' block in suburbia and has separate dining, a big lounge room (one corner of which the current owner uses as a library/study), a family room (as above) and a covered patio.

 

[alexlee]

If I was a family with 2 kids, I would prefer 4 bedrooms. Separate rooms for the kids, master bedroom and a study/office. Personal opinion only.

But perhaps more importantly, do you see that doing this will add value? Will you be able to rent a 3 bedder with bigger rooms for more than a 4 bedder with smaller rooms?
Alex

 

[ani]

Hi Fred

I'd get a few property managers to have a look as is....don't spend money if you don't need to.

Run your ideas past them, see what the rent difference will be on a 3 or 4 bedder, then decide.

 

[mcdeyess]

Financial decison I reckon

If you are only keeping it for a few years then you have to think how many $$$ is it going to cost me to convert it and will I get that back if I sell again in two years + any extra rent I might get???

Personally I think if you are going to sell in a few years (and I take that to mean two or three) that you won't see a good return on the work you do to modify the floor plan.

Cheers,
McDeyess

 

[LynnH]

I agree with ani. Talk to a few property managers in the area and ask what tenants want - is there a greater demand for 3-bedroom or for 4-bedroom homes? The PMs are the people who deal with this sort of question on a daily basis - they may have some sound advice for you.

Cheers
LynnH

 

[George]

If you think of selling within couple of years, make sure sums add up:

While making modifications place reminds vacant $ xxx per week times how many weeks it takes to get place ready.

Expenses for modifications $ xxxx

Extra profit has to be greater than incurred loss and expenses.

Personally I doubt modifications are going to get you ahead if cycle is going to take just couple of years, but I might be wrong.

 

[marg4000]

Hi Fred

Wouldn't do a thing to it as you don't plan to live in it.

A 4 bedroom house will always sound more attractive to buyers and renters than 3 bedrooms.

One tip ... as there are no built-ins in the 3 minor bedrooms then I would suggest buying a couple of smallish wardrobes to put in two of those rooms. Most houses these days have build-ins and tenants may be unwilling to go to the extra expense and inconvenience of buying wardrobes when their next home will most probably have built-ins. Should not cost too much.

We recently bought another house in Brisbane (IP) and after we had signed up we asked the agent why it was not more expensive - agent said it had 3 bedrooms and 1 bathroom and these days people (in that fairly up-market suburb) want 4 bedrooms and 2 bathrooms and won't consider anything less.

This is despite the 3 bedrooms being quite large and the house having the most enormous, fully-lined double garage which in time we intend to convert to another 2 bedrooms, two-way bathroom and third living area. (Also it was painted a fairly bright colour right through which was off-putting, but a two day painting effort cured that!)

So keep the 4 bedroom 2 bathroom configuration, despite smaller families that seems to be the standard that many buyers want.

I think you will be pleased you did when it comes to selling in a few years as you intend.
Marg

 

[kaf]

I definitely wouldn't lose a bedroom! 4 bed should get you more rent even if the bedrooms are smaller so I'd leave the current configuration and save the reno cost! We have a 4 bed in an area where there are mainly 3 beds and for renting it just makes it stand out.

Cheers

kaf

 

[Aimjoy]

fred,

4

Aimy

 

[Bandita]

Hi Fred,

I would definitly stick with 4-bedrooms. What's the purpose of the property and what location is it in? As a rental with 4 bedrooms - you will get higher rent and likely higher resale value if you keep it at 4 bedrooms. Another option could be to go 3 bedrooms with robes plus study (i.e. 4th bedroom) - the 4th bedroom would be smaller, but you'd have the robes and keep the same 4 bedroom affect. However, it's probably easier to just add some wardrobes into the existing bedrooms. 2.9x2.9 isn't that small, I've certainly seen smaller! Then again, it depends on the area this property is in. Generally, in the family burbs, the best quality 3 bedroom may only sell/rent for the highest price as the cheapest 4-bedroom.

Cheers,
Jen

 

[Glucose]

Yes, I would stick with 4 bedrooms too.

 

[lizzie]

with all that work, expense and loss of rent you'll only increase the bedrooms by 300mm wide - not worth it. keep the four. i agree that you might want to buy some cheap, small hanging cupboards - would appeal to tenants, and then they won't knock your house around to much getting their cupboards in and out.

 

[fred]

Well that seems to be a pretty resounding..."leave it as 4"!!!

Thanks everyone for responding so readily and with great advice...

Very pleased to have found this forum...hopefully the start of a long and profitable relationship.

I'll keep you posted on how things go with the IP and no doubt will have more q's as I go along.

Thanks again.

Fred

 

[anthonykirby]

Keep it as a 4 bedder... more rental appeal... and on a family block you would have to assume people would be more drawn to 4 bed home.

2.9 x 2.9 would be pretty normal size room in most homes - they are only kids bedrooms and most people will be happy with this size.