Property Ladder-Budgeting/Planning/Inspecting
This show regularly shows green investors trying to rehab a property. They go way overbudget. I wanted to know what the professional rehabbers would do differently in these houses, so that we can learn to avoid the mistakes these rookies are making on the Property Ladder.
In an upscale house I would expect a good soaking tub and tile shower. We get more requests for soaking tubs than jacuzzi style.
Jim
A walk thru master is not going to turn on most buyers. In fact you really end up with just 2 bedrooms.
How about moving the master into the addition and creating a mastersuite with bath and walk-in? Use the old bedroom as a den/office. I have seen this configuration on a number of converted 3/2 ranchers. You can recoup most of your money easier with a modernized mastersuite than with a family room.
Jim
Hello Jim,
Thanks for your reply. That was my plan was to make it a Master Bedroom w/ the walk-in-closet w/ attached den/office/nursery. So you think I should just call it a Master Suite & not a Master/Family room? What do you think about making the single entry( it is approx 32" wide) into the room wider & installing a double french door? You had mentioned adding a master bath. I definetly have thought about doing that, but I think it would be too expensive & would send us way over budget. The ranch homes w/out a basement on a slab that have sold in the area only have 1 bath. I know it would increase the value, but how much I am not sure. There are not enough comps to go on. I guess I could ask an appraiser. Also w/ this home being on a slab, there will be alot more involved to get the drainage pipe(for the toilet, sink & tub) hooked up to the existing drain pipe.
Maybe someone who has added a full bath in a home that is on a slab can give me some input into how involved it is & rough estimate of cost. I know it depends on a lot of variables & what type of materials I use. Any comments appreciated
Swany