Adding Value

Discussion in 'Renovation & Home Improvement' started by Cabricabri, 1st Feb, 2021.

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  1. Cabricabri

    Cabricabri Well-Known Member

    Joined:
    1st Dec, 2018
    Posts:
    62
    Location:
    Melbourne
    Hi,

    I've bought a property in Brisbane with the layout below. Could you please advise if you can think of any idea to add value. I was thinking of a new bathroom in the groundfloor where the Entry is and also converting part of the rumpus to a new bedroom. That way the house would be a 4 bedroom, 2 bathroom house. Thoughts?

    upload_2021-2-1_17-56-39.png

    Thanks!
     
  2. Angel

    Angel Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    5,816
    Location:
    Paradise, Brisbane
    From the other photos, it looks like an attractive home that will rent easily. Please understand about turning downstairs rooms into bedrooms - even in Moreton Bay where Ferny Hills is, the councils are anal about advertising and renting out rooms that are not high enough to be called bedrooms. Of course your downstairs rumpus room requires a small bathroom for visitors to use when you are having a party! Bathrooms are easier to advertise although I have received pushback from a valuer about turning one of our downstairs rooms into a bathroom.

    Another issue will be your liability if you advertise the house as a 4 bedroom when it isn't legally four. You can attract tenants who will choose to make a bedroom downstairs and it may be OK, but you will have to advertise as three unless it passes all the rules. A helpful building inspector will advise further.

    I would suggest keeping the entry as is and building another bathroom near the laundry. For both aesthetics and ease of plumbing.
     
    Cabricabri and Marg4000 like this.