Should I Change A 2br To A 3 Br To Help Sell?
I have a 2br 2ba house for sale on the mls and am not getting that many interested people looking. I would like to know if anyone has experience in converting the garage to a 3rd bedroom to increase interest. Will that increase interest? I can do the work for about 2 thousand. Also the asking price is 98k , how much should I raise the price after adding the bedroom?
In all areas except college campus areas 2br are VERY hard to get rid of. They just don't fit the average homebuyers' needs. In Iowa it is a huge minus not to have a garage. But in FL...IDK? 3br will definatly help but it may come with the expense of not having a garage. You'll have to decide of that tradeoff is worthwhile.
Also?
1. Can you add a third bedroom elsewhere?
2. Can you build a garage elsewhere?
I would think 3br would significantly increase the price of a home. I don't know your market but I feel that people tend to overvalue 2br homes.
While adding a third bedroom may increase the value, losing the garage will lower it. I think that they cancel each other out. At the risk of sounding like a Realtor I'd suggest that you decorate and make sure it looks like new and sell it at a lower price. I find that 2 bedrooms do sell and there is a market for them but only at the right price. I've learned my lesson on the 2 bedrooms. There's not much money to be made in them. If you can afford to lower the price I'd say lower it, sell it, get out and move on. Consider it a lesson learned.
Are most of the houses in the neighborhood 2 br or 3 br? Garages? If 2 br /garage houses are the most prevalent in this neighborhood I would not convert the garage!
Have your agent give you data on:
1. currently listed 2 BR homes with garages
2. 2 BR homes with garages that have sold in the area within last 6 mths
3. currently listed 3 BR homes no garage
4. 3 BR homes with no garage that have sold in the area within last 6 mths
See what the average market time is, respectively, for the 2 BR's and 3 BR's, and compare sales prices. By getting the info on currently listed 2 BR and 3 BR, you should get a better sense of what your existing or potential competition would be.
It's under contract so I guess it's a moot point.
Paul