Newspaper article News Mail Bundaberg Qld.

Will New Bedroom Add Value to a Home?

Newspaper article News Mail Bundaberg Qld.

Will New Bedroom Add Value to a Home?

Article excerpt

MOST Australian home owners understand that adding a bedroom will increase the value of their property, but by how much exactly?

Cathy Morrissey, known as The Reno Chick, says while a combination of factors ultimately determine the value of a property, adding a bedroom to a house valued between $500,000 and $1 million generally adds $50,000 to $80,000.

It can cost between $50,000 and $100,000 to add one though, she adds.

"Generally speaking, that $50,000 to $80,000 figure is accurate, but there are caveats," Morrissey says.

Adding a bedroom is often an excellent strategy, but it depends on the property, she says. "Many people wrongly assume simply adding a bedroom will get them that jump in value."

"If you have a great three bedroom house, with a large kitchen and spacious living and dining areas, and the room to add another bedroom, it can be brilliant to turn it into a four-bedder, as that appeals to a whole different demographic. …

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