Hi,
I'm looking at converting a 1 bed unit in a good block into a 2 bed. The unit currently has seperate lounge and dining, but by changing the large lounge into a bedroom, with a hallway built in, and making the current dining room into the living area, it is possible to make room for that second bedroom.
1 of the bedrooms would then be a good size, with the 2nd one being 3.3×3.3. The only stumbling block would be that the lounge/dining will then be 2.4×4.4. It is possible to have a breakfast bar in the adjoining kitchen (open plan) and no dining room table which will save room. The remainder of the space will be just a sofa and wall mounted tv.
Given where the unit is, it will be rented out by a professional couple and not a young family which changes the dynamics slightly.
Is 2.4×4.4 just too small for a lounge/dining area? Will the addition of a 2nd bedroom be negated by the fact that this area detracts from the value?
i am buying, rennovating and holding onto the property which is in a high growth suburb.
Thanks, Ian
Hi Ian, I would run this question by some local agents. They should be able to tell you what buyers and renters are looking for in your area.
Almost all the renos that I do, have the potential to add an extra bedroom, I use this to leverage off course. Now, I have been “penalised” in the past (price + days on market wise) by having a lounge area that is too small. The feedback I have received from potential buyers is that there is not enough wall space to place a couple of lounges, the TV, bookcase, etc, etc.
Get a couple of agents to have a look and go from there. Also, if you think you can get away with it, make sure you present the property to the potential buyer/renter in a way that they can understand the new configuration; you can do this by hiring furniture and placing it in a way that optimises the space.
Happy Investing
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