Add a room: worth it?

[Alia]

Hi all

Has anyone added an extra bedroom to an existing property - and was it worth it?

In our 2 br PPOR, we are considering converting a large walk in robe plus a linen closet, into a 3rd bedroom. Total area of the space is 3 x 2 m. No walls need to be moved, the door is already there. Only work needs is insert a window, and demolish linen cupboard gyprock, lay new carpet.

We calculate if we rent the place out, it'll be another $x per week in rent. If we sell, we can sell it as a "2br + study/3 Br", rather than just a 2 br.

Cheers
Alia

 

[yo yo ma]

Definitely worth it with our PPoR... we had a 3 bed and added a wall plus BIR to the lounge room. Both rooms are still a decent size... Cost $7k but an estimated increase in value throught REA was $50k.

Maybe have a chat to a property manager about how much increased rent you would get?

 

[wylie]

We put in a new front door in a queenslander which enabled the big entry to be a bedroom/office with separate access.

It meant we could advertise as 4 bedrooms, which means higher rent.

 

[Chris.R_WA]

I'd say it depends on the situation...if it's an IP going from 2 beds to 3 then it will most probably add value.

If it's a PPOR, then whatever takes your fancy really...my folks redesigned their PPOR once 2 of the 3 kids moved out. Basically combined 3 small beds into one large master suite and a bedroom sized walk-in-robe. Adding value/rental yield was not a consideration in that case.

 

[marg4000]

Check with your council. 3m x 2m seems too small to be a bedroom - maybe a study.
Marg

 

[RumpledElf]

We converted our PPoR from 3 to 4 bedrooms - and changed the floorplan substantially - by dividing one bedroom into two. Had to knock down a wall to get doorways in, which was a pain in the butt. Cost about $4000 all up, very much worth it.

Really nice having the extra bedroom, the old room was 4.3x5.3m which is just totally the wrong size for a bedroom, now we have two 4.3x2.6m rooms.

 

[lizzie]

we've done a few conversions - basically if you don't have to change the roofline or anything "structural" - only moving a few non-structural walls etc - than it is worth it.

 

[BanjoSmyth]

Hi Guys

I think it depends on how much Time & Money it is going to cost you?

Sounds like its a pretty straight forward job eg. not pulling down or putting up walls.

Are you doing it yourself or will you get a builder?

I would try and think of it this way. Imagine that you are going to be renting out the property. Would the extra (small) room make a difference? and how much more do you think you would pay per week?

If the answer is Yes and more than a few dollars then it is probably worth doing. A common mistake people make when renovating Investment Properties is to go overboard - but if the 3rd room is as simply as you say then i don't think it would be overboard at all.


Best of luck

Cheers Banjo Smyth


BanjoSmyth.com

SharesPropertyMoney.com

 

[willair]

Hi all

Has anyone added an extra bedroom to an existing property - and was it worth it?

In our 2 br PPOR, we are considering converting a large walk in robe plus a linen closet, into a 3rd bedroom. Total area of the space is 3 x 2 m. No walls need to be moved, the door is already there. Only work needs is insert a window, and demolish linen cupboard gyprock, lay new carpet.

We calculate if we rent the place out, it'll be another $x per week in rent. If we sell, we can sell it as a "2br + study/3 Br", rather than just a 2 br.

Cheers
Alia

Maybe look into the building code for your local area,that room seems to be small,plus with the bedroom you may have to change the layout also all the gear from the walk in robe has to be stored somewhere plus a lot of renters like walk in robes..imho..willair

 

[Alia]

hi all, thanx 4 comments.

banjo, we'd make $100 pw immediately, bec our new bub wd go in the new room and we could then keep our excellent boarder.

willair, we live near a uni... say no more...one uni student told me they had a guy rented their laundry to live in - i kid you not - so a real room may be luxury! seriously, re storage, yes we will put built-ins in our bedroom, but there's enough space for that, it's a wide room.

cheers, work starts in a few weeks.