Browse Forums Increasing Home Value 1 Feb 08, 2009 4:24 pm I'm planning to refinance my investment unit which is a one bedder + study. I was thinking of increasing the value of the unit by closing off the study with internal wall and a sliding door.
Considering the study has it's own window and would have an entry from the hallway would that make it a bedroom? It's about 2.4 x 2.8 m and configuration would allow for a single bed. It also has it's own built in wardrobe. My question is - would turning a study into a second bedroom increase the value of the unit? (by preferably more than associated cost ) Has anyone had a similar experience, who would you recommend to give an unbiased opinion, e.g. realestate agent, or is it best to get an estimate of an independent valuer? Like ⋅ Add a comment ⋅ Pin to Ideaboard ⋅ Re: Converting a study to a bedroom 2Feb 08, 2009 4:28 pm I'm no expert and this is only my opinion so it is probably not worth much.
I think in general, a second bedroom would add value. But your space is so small, I would prefer it as workable study than a very poke bedroom. I leave you to fend for yourself, figure things out yourself. Terrence Malick Re: Converting a study to a bedroom 3Feb 08, 2009 4:34 pm It would be a very small bedroom but I think you can't go wrong if you install sliding or bifold doors which can be opened right up - that way it is still an option to use as open study area but can be closed off for 2nd bedroom if needed - handy spare room for overnight guests even if not used as regular bedroom.
I think this would be the best idea from a resale point of view as it keeps options open for buyer. Re: Converting a study to a bedroom 4Feb 08, 2009 4:37 pm Yes, I agree with being able to close it off, and when you are displaying it for sale (or valuation), put a small bed in there to show that it could be used as a bedroom. Neither of these options will cost you much. Re: Converting a study to a bedroom 5Feb 08, 2009 7:09 pm If you do wish to close off the room, be careful as there are regulations as to the minimum size of bedrooms. Also your owners corporation may not allow an additional bedroom in the unit. This can be a problem when you wish to sell. A general inquiry to your local council may be of help.
Having a window in the room already is a great benefit, as to making another bedroom. Good luck PP Re: Converting a study to a bedroom 6Feb 08, 2009 8:16 pm I think that by making it a bedroom (or even setting it up to suggest a bedroom) you would add resale value.
I have holidayed in qld and stayed in apartments where they had the same set up without a window and still classed it a bedroom. I have also renovated and done a similar thing where I got what they called a "sitter bed" its a single divan with a back and sides so it looks like a couch, which could be used as a bed or a couch. that worked well as it served 2 purposes, you could also put in a sofa bed. Anyroom where it can be closed off for privacy should have dual purpose so should increase resale. my oplinion only, but I find it does work, as some people cant picture it as such so you have to show them literaly. Know where your going in life............... you may already be there Re: Converting a study to a bedroom 8Feb 08, 2009 9:12 pm yeah and I think it may not necessarily bring you a lot more money on re-sale (although I would imagine you could command more rent, so surely a better re-sale figure) but IMO you would find it easier to sell if 2br instead of 1br & study. A thankful person is a happy person. [/color]My hobby design blog: http://aviewondesign.blogspot.com/ Re: Converting a study to a bedroom 9Feb 27, 2009 9:47 am Changing a profile of a property by adding bedrooms or bathrooms has been a very successful way of increasing the value of a property for us up to now and we have chosen to specialise in this area. As long as you are careful to comply with council regulations and don't spend too much, you should do well. Feel free to PM me if you need some tradesman recommendations.
Wishing you every success, - Contributor to Australian Property Investor mag, Wealth Creator, YIP, Property Review Weekly, Herald Sun, Courier Mail, 4BC radio, 2UE radio, Southern FM, etc http://www.RenovateAndProfit.com start from at least $20,000 just for fixtures and finishes and then add on for moving plumbing and extra for a concrete floored house last new bathroom we installed in a… 1 19596 2 9505 If I hire a contractor to convert a window to a sliding door will I need to show them Council approval paperwork? That is, if I want to take a risk of carrying out the… 0 13570 |