185 - When Adding A Bedroom Doesn’t Add Value

Whether you are giving a home a cosmetic makeover or changing the floor plan, your renovation must add value to the property. Adding a bedroom can be a valuable strategy to maximise your profits. However, there are times when it doesn’t pay. In this episode of She Renovates, Bernadette Janson discusses determining whether an additional bedroom will add value to your property. Here’s a hint: It’s not always a good idea to blindly follow the statistics. Adding a bedroom to an existing floor plan is a fantastic strategy for adding value to a property if you make informed decisions about its viability. To make it easier for you to do your due diligence, Bernadette has outlined the five questions you must consider when determining whether an additional bedroom will boost your profits. “I often see. Floor plans where a bedroom has been added. And if that were to go ahead, it would almost certainly devalue the property. So this is a fantastic strategy for adding value to the property, but you need to make really informed decisions about its viability” EPISODE HIGHLIGHTS: 00:00 Intro 02:56 What is difference between the 2, 3, 4 bedrooms in a property? 04:26 It’s a mistake to rely purely on stats 06:50 Adequate dimensions of a bedroom 08:57 Ratios 10:43 Does it work with your strategy? 13:59 Case Study Resources The School Of Renovating https://www.theschoolofrenovating.com/ Connect with The School of Renovating ASK BERNADETTE https://www.theschoolofrenovating.com/podcasts-page Subscribe to She Renovates Apple Podcast https://apple.co/3faoWlT Subscribe to Youtube: https://www.youtube.com/c/TheSchoolOfRenovating Follow on Twitter https://twitter.com/renovatingsc Follow on Instagram https://www.instagram.com/the_school_of_renovating Follow on LinkedIn https://www.linkedin.com/in/bernadette-janson-3411652b