Canadian Real Estate/House renovations

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Question
I live in a 3 bedroom split level, 3 bedrooms up and 2 down. I want to renovate the upstairs to expand the master bedroom to include a full ensuite and a walk in closet. To do this I will have to remove the bedroom next to the master suite, this will become the walk in closet and the remainder of the room will become a laundry room. We will end up with a first floor laundry room and full master suite and en suite. My question is going from a 3 bedrooms upstairs (2 down) with a master suite, smallish closet and 1/2 bath to 2 bedrooms upstairs with master suite with walk in, full en suite and upstairs laundry how will this impact the value of my property. The basement is fully developed with bathroom to be installed soon.

Answer
Hi Bill,
Thank you for your question. You would eliminate a number of Buyers from purchasing your home as families with small children won't put them in the basement. If your basement has large windows and you add the bathroom it would be fine for a family with older children, and in fact could be desirable. I don't believe it would significantly impact your values one way or the other, as the adjustment for 2 bedrooms instead of three would be offset by the addition of an en-suite/walk-in and laundry.But it would most definitely reduce your target market.
Regards,
Penny

Canadian Real Estate

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Penny MacKenzie

Expertise

General Residential Real Estate, Real Estate Agency, Real Estate Terminology, Real Estate Marketing

Experience

Penny MacKenzie is a full time Burlington Real Estate Agent with over 15 years of experience. An active member of the Burlington Business Community Penny is Past President of The Burlington Chamber of Commerce and Past Chair of Tourism Burlington. Penny has also served on the Board of Directors of the Burlington Art Centre Foundation. Penny is also past chair and co-founder of Party In Pink an incredible women only fundraiser for Breast Cancer Support Services. In just four short years this event has raised over $250,000 in support of women who are currently undergoing treatment for breast cancer. As a full time Realtor Penny is experienced in the Burlington and Area real estate market. She has personally handled all types of real estate transactions, however, she is an Experienced Residential Realtor, qualified to help families reach their residential home buying and selling goals.

Organizations
Hamilton-Burlington Real Estate Board, Oakville-Milton Real Estate Board, Ontario Real Estate Board, Canadian Real Estate Board

Publications
www.blogburlingtonsbesthomes.com

Education/Credentials
Licensed Realtor with Keller Williams Realty the fastest growing Real Estate Company in Canada!

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