adding bathroom

[Property Mogul]

I have a 4 bed with 2 way bathroom and was thinking about the feasibility of converting the smallest bedroom into a second bathroom making it a 3 x 2. Any thoughts on this? I know these sorts of renovations aren't cheap but would the effort be worthwhile. There are lots of 3 x 2 in my area but very few 4 x 1 like mine. Does someone have a ball park figure on this sort of conversion? The property is in Adelaide.

Thanks for any comments.

 

[wylie]

Before doing anything, I would be getting in some local estate agents to see whether changing your place to 3 x 2 makes it more valuable (considering the cost of doing so) or whether you are more valuable as a 4 x 1 because your place is NOT like most in the area.

 

[Property Mogul]

Thanks, that's sound advice. My scouring of re.com.au is what sparked my interest as some 3 x 2 do seem to be valued more than mine. However, I don't think it's clear cut.
Thanks for your comment.

 

[firstmillion]

Thanks, that's sound advice. My scouring of re.com.au is what sparked my interest as some 3 x 2 do seem to be valued more than mine. However, I don't think it's clear cut.
Thanks for your comment.

Hi PM,

Depending where the property is, you might look at converting it into a student acco. this might give you better return.

cheers

 

[Tin Tin]

You also might want to have a chat with rental managers to see how much more or less rent you will get. I would assume more by putting in the bathroom and will also increase your likelihood of attracting singles rather than families.. Which is a good thing as increasing the rent for 3 singles or a few couples by $5 a week each is more affordable for the tenant than increasing $20 for a whole family..

Also higher rents are linked to higher bank valuations as you prob already know.

Just another angle to consider..