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We want to add a second bathroom but have split opinions on where to put it as the cost differences are high.
Situation. "Antique" three bedroom house in "upscale" town of much larger and expensive houses. Currently there's one small bathroom upstairs. Our best choices are a bathroom addition to the first floor (there's no decent space to convert to a bathroom in the existing footprint) at a cost of $50,000ish; or, converting a small 5x8ish study upstairs (we could afford to lose this room and the room would just need a door added to make it a master bath) at a cost of around $20,000. Both bathrooms would have a reasonable size shower stall.
Other matters:
- For us, an extra bathroom is needed for convenience; neither upstairs or downstairs is really more convenient than the other.
- We're unsure how long we'll be here (we may actually be moving soon for a job, but if not we want to get started on this project asap). So, if we do the bathroom, we can assume we'll be here at least 5 more years, maybe much much longer.
- The big question: Is one situation more preferable to buyers? Guessing that downstairs bathroom is, but is it enough of a preference to spend another $30,000? House is valued around 500k+
Currently there's one small bathroom upstairs. Our best choices are...
...the same basic choices that all the previous owners had available to them
but for various reasons chose to not do (and probably to sell and move on).
Quote:
We're unsure how long we'll be here...
(we may actually be moving soon for a job, but if not we want to get started on this project asap).
Until you can sort through these issues... do NOTHING deeper than new paint.
Curious: How long have the previous owners held the property before selling?
I tend to agree with Mr. R on the general principle here BUT the specifics of your LOCAL market conditions may make the costly option a viable option as a function of fraction of likely selling price, especially if you have the cash doing nothing else...
Let's illustrate with some hypothetical numbers.
Suppose current selling price for your otherwise nice 3 bedroom 1 bath home in a desirable area outside Boston might be in the $400k range.
If the likely selling price is posted by more than the $50k price of the addition (which is a really big if...) then financially you really have made a wise investment. Even a selling price around $455k means that you've made about 10% on your money. Pretty great return when your savings get less than 1% in any normal account...
Now if you really moving REAL soon the current market conditions likely are even better indication of likely return.
Of course if you decide to stick around there is inherently more risk -- maybe market falls and no one is gonna be able to justify even what you owe on house so any improvements just make you more upside down. Sure, things could get red hot too, but if they do get super hot maybe you'd net more selling home as teardown for land value with nothing out of pocket...
(personally I would invite several local real estate agents to give you a competitive market analysis of home in current condition. I would also ask them to prepare comps for similar homes with an additional bathroom, some on same floor as all the baths and some with baths on each floor. It might be possible that you would be better off selling and buying another home or using the information provided to help determine you smarter move as far as adding bath...)
I believe baths are critical and should be located on the same floor as the bedrooms. I am spoiled. I do not wish to go down a hall from my bedroom to a bathroom.
1/2 baths are just fine on floors with no bedrooms.
I wouldn't do it unless you are staying awhile. I vote for turning the study into a master bath. There are plenty of people that insist on a master bath for that room only. This will update the house more than the other option.
We want to add a second bathroom but have split opinions on where to put it as the cost differences are high.
Situation. "Antique" three bedroom house in "upscale" town of much larger and expensive houses. Currently there's one small bathroom upstairs. Our best choices are a bathroom addition to the first floor (there's no decent space to convert to a bathroom in the existing footprint) at a cost of $50,000ish; or, converting a small 5x8ish study upstairs (we could afford to lose this room and the room would just need a door added to make it a master bath) at a cost of around $20,000. Both bathrooms would have a reasonable size shower stall.
Other matters:
- For us, an extra bathroom is needed for convenience; neither upstairs or downstairs is really more convenient than the other.
- We're unsure how long we'll be here (we may actually be moving soon for a job, but if not we want to get started on this project asap). So, if we do the bathroom, we can assume we'll be here at least 5 more years, maybe much much longer.
- The big question: Is one situation more preferable to buyers? Guessing that downstairs bathroom is, but is it enough of a preference to spend another $30,000? House is valued around 500k+
I wouldn't do it unless you are staying awhile. I vote for turning the study into a master bath. There are plenty of people that insist on a master bath for that room only. This will update the house more than the other option.
Totally agree with this. Out here the master bath would have more value than a bath downstairs with a shower. People don't want to trek downstairs to take a shower.
A full bath on a floor with no bedrooms would just be odd. 1/2 bath down would be ok. However, I agree that a master bath would be best and would add more value.
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