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Updated almost 10 years ago,
Should I Add A Full Bath to A Rehab Flip?
Hey Guys,
I just went into contract on a rehab deal in Jersey City. It's a SFH. 3 Bed, 1.5 bath. The basic #s are 100k purchase price. Renovating cost around 35k. I can sell it for 175k.
The broker suggested I add a full bath on the main floor to increase the value of the house. I would love to hear anyone's opinion on this.
I will tell you now what I'm thinking of doing to determine if it will be worth it. I am planing to get a BPO from an amazing broker I've been dealing with. (Needless to say my BPO guy isn't vested in the deal so he has no reason to "adjust" the value..) I will have him tell me how much more I can get for a 2.5 bath over a 1.5 bath. I will get an estimate from my contractor on cost to add the full bath. If the value goes up significantly more than the cost I will prob go for it.
Any advice is greatly appreciated!