4th Room

[zimby]

Hi All

We purchased a 3 bed 2 bathroom Property back in 2011/12 floor size is around 122m2, there is a sun room/laundry room that runs the width of the property, there is a door leading into this room in the middle( sliding glass door)
Would there be any value in chopping 2/3 of this room off for a bedroom( room would be decent size)
I don't believe it would interfere with the structural integrity of the unit.
Property is located in Taringa QLD.
No plans to sell, just rent, rental guestimate is around 430( was tenanted for 430 back in 2011 by tenant who had been there for 6 years)
Building was refurbed back in 2006.
Is this extra room likely to generate enough income to pay off the reno in 5 years?
Is there demand for 4 bed 2 bath units in Brisbane?

Cheers

 

[Brady]

Hi All

We purchased a 3 bed 2 bathroom Property back in 2011/12 floor size is around 122m2, there is a sun room/laundry room that runs the width of the property, there is a door leading into this room in the middle( sliding glass door)
Would there be any value in chopping 2/3 of this room off for a bedroom( room would be decent size)
I don't believe it would interfere with the structural integrity of the unit.
Property is located in Taringa QLD.
No plans to sell, just rent, rental guestimate is around 430( was tenanted for 430 back in 2011 by tenant who had been there for 6 years)
Building was refurbed back in 2006.
Is this extra room likely to generate enough income to pay off the reno in 5 years?
Is there demand for 4 bed 2 bath units in Brisbane?

Cheers

Have you looked at realestate.com.au for the price differences between 3 & 4 bedroom?

Would also suggest speaking with a few different local REAs

 

[zimby]

Hi Brady

No other 4 bed 2 bathroom apartments for comparison unfortunately.
Was the rental Agent who pointed out the idea when they did an appraisal.

Cheers

 

[Brady]

Hi Brady

No other 4 bed 2 bathroom apartments for comparison unfortunately.
Was the rental Agent who pointed out the idea when they did an appraisal.

Cheers

Did they give you an appraisal with and without the extra bedroom?

If you trust this agent I would take his advise...

Have you a quote on how much is would cost to turn it into a 4th bedroom?

 

[zimby]

Hi Brady

was just a suggestion by REA with no figures, didn't even do an official appraisal for the place( I did mention that I was a while off renting it tho)
I'll organize a quote

 

[Brady]

I would be asking the REA for what he thinks it will rent with the extra bedroom.
(apprasials aren't official anyway)

Find out what its going to cost and make a decision from there.

I would personally get few opinions from different REA and quotes for the room.


Best of luck keep us posted of how you go.

 

[zimby]

Thanks Brady