Should we make more bedrooms or a studio apartment?

[jontojon]

We have a home now that we are redoing. The home has one bedroom now and a studio apartment downstairs. We were wondering if we should add more bedrooms and and do away with the studio apartment. We would like to know which way usually appraises more?

Thanks

 

[Michigan CG]

This completely depends on location. Where I live the bedrooms would be beneficial. Near a major university the studio apartment would have significant value. The answer is it depends on a lot of things.

 

[Webbed Feet]

We have a home now that we are redoing. The home has one bedroom now and a studio apartment downstairs. We were wondering if we should add more bedrooms and and do away with the studio apartment. We would like to know which way usually appraises more?

Thanks

Then hire an appraiser and find out.

 

[melissa995]

We have a home now that we are redoing. The home has one bedroom now and a studio apartment downstairs. We were wondering if we should add more bedrooms and and do away with the studio apartment. We would like to know which way usually appraises more?

Thanks

You should post your location to get answers from appraiser who understand your market. Everything is bracketed if one bedroom are adnormal for your marketplace then you nned one, if one bedroom are preferred then no. Contact a realtor and ask how mant one bedroom in the marketplace and the price difference for more. If the cost to add bedroom is less than the cost to improve then I would say no.

 

[Walter Kirk]

The proper way to address this issue would be to prepare an appraisal of the property in as repaired condition and another appraisal with the hypothetical condition that the property is converted to a two, or more, bedroom single family.

 

[Learner]

Hi,

I am an asker here also. But your question triggers a question that keeps bothering me.

My place is a single family detached. For my neighborhood, overwhelminly places are single family detached. Why does my place get two-families as comparables?

 

[ctapraser]

Did you convert your (now) single family from (then) a two family without telling anyone?

 

[Webbed Feet]

You should post your location to get answers from appraiser who understand your market. Everything is bracketed if one bedroom are adnormal for your marketplace then you nned one, if one bedroom are preferred then no. Contact a realtor and ask how mant one bedroom in the marketplace and the price difference for more. If the cost to add bedroom is less than the cost to improve then I would say no.

I would say "What?"

:Eyecrazy:

 

[Webbed Feet]

The proper way to address this issue would be to prepare an appraisal of the property in as repaired condition and another appraisal with the hypothetical condition that the property is converted to a two, or more, bedroom single family.

So you can explain what it was out of the original post that led you to believe something was broken?

 

[Webbed Feet]

Hi,

I am an asker here also. But your question triggers a question that keeps bothering me.

My place is a single family detached. For my neighborhood, overwhelminly places are single family detached. Why does my place get two-families as comparables?

You will have to ask that question of the parties that are using those comparable to opine value.