Hi All,
I'd be interested to hear advice from anyone who's taken a 3 bedroom house and converted the dining room into a 4th bedroom:
1. Does it add value to the valuation and how much? $250k property - would it add $25k-$30k?
2. How much did you find it added to your rent?
3. Is the increased rent worth the hassle and maintenance - i.e. people who prefer more bedrooms are usually more likely to be sharing or have alot of children i.e., more tenants = more damage/maintenance/wear?
This area is a lower socio-economic area, so I would be a little concerned with point #3. Tenants who want a dining room would probably be better tenants than tenants who want 4 sleeping rooms but no dining...
In this case, the dining room already being a distinct room, the process of conversion is:
1. Fill in the doorway between the kitchen and the dining room making it a flush wall. The kitchen already has a large opening to the lounge room, so this doorway is not needed by the kitchen.
2. Change the other dining room doorway which is currently a sliding door into a hinged door, solid door that's sound proof. The door would open onto the lounge room.
3. Add an ikea wardrobe.
The bedroom will be only 3m x 2.6m, so most probably a single room.
Any feedback would be welcome.
Cheers
I'd be interested to hear advice from anyone who's taken a 3 bedroom house and converted the dining room into a 4th bedroom:
1. Does it add value to the valuation and how much? $250k property - would it add $25k-$30k?
2. How much did you find it added to your rent?
3. Is the increased rent worth the hassle and maintenance - i.e. people who prefer more bedrooms are usually more likely to be sharing or have alot of children i.e., more tenants = more damage/maintenance/wear?
This area is a lower socio-economic area, so I would be a little concerned with point #3. Tenants who want a dining room would probably be better tenants than tenants who want 4 sleeping rooms but no dining...
In this case, the dining room already being a distinct room, the process of conversion is:
1. Fill in the doorway between the kitchen and the dining room making it a flush wall. The kitchen already has a large opening to the lounge room, so this doorway is not needed by the kitchen.
2. Change the other dining room doorway which is currently a sliding door into a hinged door, solid door that's sound proof. The door would open onto the lounge room.
3. Add an ikea wardrobe.
The bedroom will be only 3m x 2.6m, so most probably a single room.
Any feedback would be welcome.
Cheers