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Updated almost 3 years ago on . Most recent reply

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Jon Martin
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978
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Adding an extra half bath to a 2/2 for an STR & BRRRR: Worth it?

Jon Martin
Posted

Hi Everyone,

Closed on a 2/1 in west Greenville SC recently. Recently a more updated 2/2 just a block away with the same square footage closed for $108K more than mine did! 

As it stands, the layout is good overall but has some of the classic goofy mid-century design factors, and I am working on updating the kitchen and drywall as we speak (floors and bathroom are updated). The main issue is that the only bathroom is on the far end of the house, so the 2nd bedroom guests will have to walk across the entire house to reach it. The other issue is that the "Master" by virtue of proximity to the bathroom and privacy from the street is actually smaller than the 2nd bedroom, and the 2nd also has a fireplace. While I realize that these are not dealbreakers and that STR guests tend not to be phased by these things during shorter stays, I want to make the listing more appealing and also increase the value for a potential cash out refinance.

To add a full bath, I can easily sacrifice some of the 2nd bedroom to add a full 10 x 5 bath and the contractor said he could do one for ~$10-12K. However, in order for the bath to have a window it would need to go all the way to the back wall, which would leave a 5 x 5 space in the middle of the house with no purpose. With a crew working on the first bath it would be an easy add on in terms of work flow and could probably be done for about half the price of the full. 

Would it be worth adding a 1/2 bath in that space in terms of appraisal value if I already have the same number of beds and baths? Or is that excessive given that there would already be 1:1 bed to bath ratio, and not likely to improve value? The other option would be to turn that space into back-to-back closets for the bedrooms or do a pantry or living room closet, since it is pretty close to the kitchen.

Any and all feedback is welcome. Thank you all in advance!

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