Q&A: Will dividing a large room into bedrooms add value to my property?
I rent out rooms in my house, and I am thinking of converting the large living room into two separate rooms so that I get an extra bedroom to rent out. Will this gain or lose value in the property?
Sarah Shelley, Partner at Knight Frank in Wapping suggests:
Try and ensure that you have a reasonable sized reception room after you have done the division and that any partition is easily removable and does not damage the walls, coving etc as I suspect that you have a handome living room at present which is important to the value of the house.
You might also find it useful to look at propertyfinder.com's Price of a bedroom survey, which discusses the value an extra bedroom can add to your property.
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Comments
I agree with what Sarah has written but it also depends on the market you are targeting. When prospective tenants look round properties they tend to examine the reception rooms for size. You need somewhere for tenants to socialise, especially if you want them to become friendly with each other and in turn hopefully stay longer.
Another consideration is the effect on the property if you were to sell it. I assume the property must be fairly large which would either appeal to a family, with the size of receptions rooms a huge consideration. Alternatively investors may be attracted to the changes and the increased rental potential. Intially you must consider the level of demand for rooms to rent, as you will need to gain some return on the investment.
Posted by: Elaine Wood | November 24, 2006 03:52 PM