New Home Advice

[anarchy]

I need some advice on a home I am purchasing.

I am about to purchase a new townhouse in Coventry that is slated to be finished in February. The standard layout that will be built has three bedrooms upstairs, one full bathroom for everyone to share and a walk-in closet in the master bedroom.

Now, I want to put an ensuite in my master bedroom. But this leaves me with a predicament, as it would replace my walk-in closet.

The options I have are below:

Option 1 (standard):
One master bedroom, two smaller bedrooms
Master bedroom has a walk-in closet
One full bathroom for everyone to share

Option 2:
One master bedroom, two smaller bedrooms
Master bedroom has a full ensuite, only a regular-sized closet
One full bathroom for remaining bedrooms

Option 3:
One master bedroom, two smaller bedrooms
Master bedroom has a half ensuite (no shower), walk-in closet remains
One full bathroom for everyone to share

Option 4:
Two master bedrooms (two smaller bedrooms are combined to form second master bedroom)
Both masters have full ensuite and walk-in closets


When I take possession of the house, I plan to live there on my own, but if I feel I need it, I will take on a roommate or two. I'd really prefer to have an ensuite for convenience, and I especially want my own shower if there are roommates.

However, I also want a walk-in closet. The regular sized one is much too small for me to use by myself. I can do a half-bath ensuite but that still leaves me with having to shower with everyone else.

The two master bedroom option seems to work best for me as I can retain both my walk-in and have a full ensuite, but I've been told this will make it much harder to sell in the future. I am under the impression that having a full ensuite with a regular closet wil be easier to sell than having no ensuite and a walk-in closet.

If anyone has any advice, particularly on how this would affect my resale value, that would be greatly appreciated.

[lint]

definitely option 2. if the existing closets are too small, get wardrobes to make up for the space. But IMO, it's not really a "master" if it doesn't have an ensuite

[Mr. Burns]

Personally I prefer option 4.

[anarchy]

Unfortunately, the room isn't big enough to have a wardrobe. I thought of that option but walking through the show home, there definitely isn't enough room to put in a wardrobe.

I would like Option 4, but from what I've been told, it'll be much harder to re-sell as a lot of young families prefer to have the extra bedroom for kids etc. I'd have a smaller demographic to sell to that are looking for that two-master layout.

[joefufu]

do you mind if you tell me which builder is building a new townhouse in coventry?

[Kloubek]

I'd say #2 as well - an ensuite adds a lot to a place.

My wife-to-be and I purchased a home up in Kincora, but we were previously looking at a spec home in Sage hill. It was a sweet deal, but we decided against it because it only had the one bathroom. Every place needs an ensuite. :)

[anarchy]

joefufu - cardel


I've been getting conflicting opinions. Some people say full ensuite for sure, that's what's more important to them in the master bedroom.

Others say walk-in closet. One bathroom is fine.

If I get the ensuite, the closet I have is REALLY small. I mean just a regular sized one that might even be trouble for me, let alone a couple.

[HRD2PLZ]

If you're looking to rent out a room or two, I'd definitely go for option #2.

A three bedroom is generally better for re-sale, but that is not always the case. There is people out there who would prefer a Two Master set-up. The downside to the Two Master's is that you will eliminate families from looking at your home when it comes time for resale. The upside is obviously two larger bedrooms, each with their own ensuite bath and walk-in closets.

I assume you're looking at the Lighthouse Landing development?

[FiveFreshFish]

I'd pick Option #4. Perhaps it'll be easier to sell if your place isn't like all the other units in your complex.






Originally posted by HRD2PLZ
The downside to the Two Master's is that you will eliminate families from looking at your home when it comes time for resale.

Not necessarily. There are families with one kid, and families that don't care if the kids have to share a room.

[max_boost]

I like option 4 because you get everything you need.

[ExtraSlow]

Option 4. Who wants two small spare bedrooms? This way it's perfectly set up for a roommate.

[max_boost]

Originally posted by ExtraSlow
Option 4. Who wants two small spare bedrooms? This way it's perfectly set up for a roommate.

And you can charge them more because it has everything!!!!

[whodiman]

when i was looking for houses during the slowdown last year i noticed 2 storey houses that only had two bigger bedrooms had to be priced a good 20k less because of a very tiny target market. I remember during that time it was by far the cheapest 1800ft 2 storey in tuscany.

However, i think an ensuite is extremely important. I know several people who will never buy a house without an ensuite (including myself). If you plan to rent out rooms, you will want to kill yourself (or the rentors) if you don't have your own ensuite, especially if you ending up renting to people who go to work at the same time as you.

Option 2 is probably the best even without the walkin closets

[anarchy]

Thanks for your input everyone.

I've basically narrowed it down to option 2 or 4. An ensuite is essential. I don't know if I'll be renting out to a roommate, but if i do, then I need my own washroom.

The realtors I've spoken to all highly recommend option 2. To me, option 4 is most appealing for a number of reasons, one as several of you have mentioned is that if I do get a roommate, I can rent it out for much more. Both having ensuites and walk-in closets would be a bonus as well.

However, as whodiman said, the realtors say I'll have a small demographic to market to, thus decreasing the value of my home by 15-20k.

The way I see it, it's a great alternative to those like me who are looking to buy and potentially rent out to roommates, or couples with no kids, or couples with one kid, or couples with two kids that don't mind sharing a large room.

Personally, I wanna go with option 4, but not if I lose 20k on my home!

[Celica TVS3]

My first house was a 1,350 sqft townhouse in Mckenzie towne (26 Prestwick Drive SE). There were only two bedrooms, both had walk-in closets and full baths. Almost all the people who lived in the townhouses were young people with no kids, or empty nesters who had downsized. I think most people treat them as starterhomes and buy them with the expectation that they won't have kids when they live there. If they do have kids, or plany to in the near-term, they move to single famly homes. I wouldn't hesitate to go with option #4.

Think if it this way, while not having 3 bedrooms may limit married couples with 2 kids, I don't think that's your target market anyway. By not having a reasonable sized closet or a full master bath, your are turning away almost everyone.

Also...when I sold my house, it sold signifcantly faster (just a couple of weeks in November of 2007) and for materially more than the listed units with 3 bedrooms.

[ExtraSlow]

I think those realtors are right to a point. If your home is a 2 bedroom instead of a three bedroom, you probably have fewer people come and view it. However, the people who do come are more likely to love that setup.
Having a "niche" home can be a great selling feature too. if yours is different than all the others, you might be able to market it differently, and sell for more.

[Sailz]

Option 3 or 4

[max_boost]

Originally posted by anarchy
Thanks for your input everyone.

I've basically narrowed it down to option 2 or 4. An ensuite is essential. I don't know if I'll be renting out to a roommate, but if i do, then I need my own washroom.

The realtors I've spoken to all highly recommend option 2. To me, option 4 is most appealing for a number of reasons, one as several of you have mentioned is that if I do get a roommate, I can rent it out for much more. Both having ensuites and walk-in closets would be a bonus as well.

However, as whodiman said, the realtors say I'll have a small demographic to market to, thus decreasing the value of my home by 15-20k.

The way I see it, it's a great alternative to those like me who are looking to buy and potentially rent out to roommates, or couples with no kids, or couples with one kid, or couples with two kids that don't mind sharing a large room.

Personally, I wanna go with option 4, but not if I lose 20k on my home!

Sell the house yourself and you don't lose $20k.

Seriously though, option 4 is your best bet buddy. You need that walk-in closet like you said :rofl: WTF are you going to do with two extra rooms anyway? lol

[luv2ride_bikes]

Originally posted by max_boost


Sell the house yourself and you don't lose $20k.

Seriously though, option 4 is your best bet buddy. You need that walk-in closet like you said :rofl: WTF are you going to do with two extra rooms anyway? lol
Well he can rent out one of the extra rooms and turn the other one into an office. I would go with option #2.

[ExtraSlow]

Renting out a big room with ensuite > renting some tiny room with a bathroom down the hall.

[88CRX]

I just recently had the same decision to make and I chose the double master (option #4).

Also just to clarify since it's a townhouse your resale isn't going to much different then any other unit in the complex.

[sputnik]

Originally posted by anarchy
I would like Option 4, but from what I've been told, it'll be much harder to re-sell as a lot of young families prefer to have the extra bedroom for kids etc. I'd have a smaller demographic to sell to that are looking for that two-master layout.

I had one and it was a PITA to sell.

Do NOT go with option 4.

[anarchy]

Damn, so many conflicting opinion.

I think I'm going to go with option 4. It just suits my needs better. I don't know if I need a roommate, but if I do decide to get one, thid accommodates a roommate much better.

I understand it may be more difficult to sell a dual master home compared to one with 3 bdrms, but given the mixed responses, I assume that it won't be impossible and it doesn't necessarily mean I'll have to list my place cheaper than a 3 bdrm alternative.

I think there'll still be a market demographic that'll find my place an attractive option.

Thank you all for your input thus far!

[GQBalla]

4

[FiveFreshFish]

Option 5:

Develop a bedroom/bathroom in the basement for a tenant so you'll have the entire upstairs to yourself and the tenant has his own space downstairs. You only share the main floor. This makes it easier to rent out because you'll both have better privacy.

This will cost you more initially but you'll recover the costs eventually with rental income and higher resale value.

[quazimoto]

Most real estate professionals would tell you to keep the 3 bedrooms and not combine the two rooms. I've seen houses sell for tends of thousands of dollars less. Just ask yourself how long you want to live there for.

[Masked Bandit]

Option 2, hands down.

A full ensuite is a must and two bedrooms upstairs is an odd set-up, you'll kill your resale.

The other thing I would change is the builder. We built with Cardel and I wouldn't give them another penny of my money. I would consider just about anyone else.

[Ed the SOHC]

IMO, option 2 is best. You need an ensuite in a master bedroom. Who wants to share a bathroom with a future roommate or house guest? Also, if you need more closet space you have 2 more bedrooms closet to use. Also, 3 bedrooms are more family oriented so if you want to sell the home in the future you should have more perspective buyers.

[urban.one]

Id go with option 2 but the proposed option 5 sounds good as well.

Im not sure why youd go with 4. Real estate agents are telling you it will be a tougher sell. And you dont even know if you will decide to have a roommate.

Do the math. How much do you plan on charging a room mate? $600 a month? $600 a month, for 3 years would get you $21,600 in rental income. Youd have to keep your house for 3 years and have the room constantly rented out to cover the $20,000 you could lose on the sale price because of option 4.
Thats a simple calculation and you could factor in other things.

My point is that you want to get a roommate to decrease your expenses but it might not be worth it if your knocking $15k to $20k off the value of your house.

Id think about it a little more.


Originally posted by FiveFreshFish
Option 5:

Develop a bedroom/bathroom in the basement for a tenant so you'll have the entire upstairs to yourself and the tenant has his own space downstairs. You only share the main floor. This makes it easier to rent out because you'll both have better privacy.

This will cost you more initially but you'll recover the costs eventually with rental income and higher resale value.