THE EXTRA ROOM DILEMMA

By Mike Lightbourn

Will converting a garage into an extra bedroom improve or perhaps harm a home’s value?

As an appraiser of many years, I can tell you this type of project often doesn’t increase the value of a home.

Let me qualify this statement by saying that many garages have been successfully turned into extra living space.

This especially applies to large garages with high ceilings that, opened up, flow with the home’s floor plan.

Unfortunately, most garages don’t flow with floor plans.

In too many instances, the extra “bedroom” is presented as an afterthought, which is exactly what it is. Access may be through a kitchen or laundry room. It may be on the east side of the house when all the bathrooms are on the west.

Moreover, the value you think you’ve gained by adding extra living space may be lost by not having a garage, especially if other homes in the area have them.

Garages are particularly important here during hurricanes and they can double as storage rooms, so don’t underestimate their value.

From time to time, we are asked to list a two bedroom home as a three-bedroom, based on an ill-conceived conversion of a garage into an extra bedroom.

Unless the third “bedroom” is turned into a real bedroom – not a pokey little room with a low ceiling - and flows with the floor plan, the home should be listed as a two bedroom home with a garage turned into extra living space.

Instead of spending $15,000 or more converting the garage into extra living space, consider putting that money towards adding an additional bedroom that conforms to the design of the home.

COVERED PORCHES

The same principle applies to turning covered porches into extra indoor living space.

While an enclosed porch may come in handy during a particular stage of your life, say as a nursery off your bedroom when the children are babies or as a play area, it will probably have little use to a mature family.

Covered porches are an attractive selling feature, especially in our warm climate where people enjoy relaxing in the cooling outdoor breezes. . By turning a nice porch into obsolete indoor living space, you may actually take away from the value and beauty of your home.

WATCH THE SIZE

If you decide to add an extra bedroom and bath, it should be in character with the rest of your home.

Sometimes, a builder will try to talk a homeowner into a serious expansion on the basis that it will substantially increase their investment.

This often isn’t the case. Be careful not to overbuild for your area. Before embarking on anything ambitious as an investment, find out what the home’s currently worth and what it will be worth after the upgrade.

Does it pay off? If not, is it worth it?

Questions? Email me at ask@cbbahamas.com.

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(Mike Lightbourn is president of Coldwell Banker Lightbourn Realty)