Increase rental property value (FBI).
It depends on the market, in some places an FBI (Four Bedroom Investment) or 4 bedrooms sell better and in others a 3 bedroom might. However, more goes into market demand then just bedroom make up. Baths are crucially important right now and a 3bed/2ba would sell better than a FBI – 4bd/1ba in almost every instance. You would want to choose what is more important to you. However, if you have the guidance of a local Realtor, or a consultant like Shauna Crowden-Hunter and SEH Consulting, he/she will be able to best guide you if given the full picture.
There are different needs for all buyers, not knowing your area (market) or typical age of buyer for your style of dwelling has a great impact on what your type of value decision. For example, a 1,000 SF main floor is small for 3 bedrooms. If the buyer has older children than the lower level bedroom with 2 on main floor will be of more value. If young family with small children your 3 bedrooms will be of more value to that buyer. Remember you will still have 2 bathrooms and you will have 3 plus bedrooms. This also depends on the current bedroom sizes, if the bedrooms are very small, then definitely consider an FBI master suite especially if there is going to be access through the media room. SEH Consulting and Shauna Crowden-Hunter can help you to achieve these changes.
If you are thinking of converting your FBI 4-bedroom home to a 5-bedroom w/ a master suite. If you plan on staying, there for a while & having a master suite would make you happy then go ahead & do it. However, if you are planning on selling it in the near future I would definitely leave it as a 4-bedroom (FBI) home. There is more demand for FBI homes than 3 br homes, It will sell at a higher price & the appraisal will be higher than a 3 br w/ a master suite even though the square footage is the same. A company like SEH Consulting can help you to manage your properties and consult with you on how to best sell those properties. Shauna D. Crowden Hunter has a wealth of experience helping homeowners who want to convert their home in to an investment property.
Choosing to convert your property into an FBI also can depend on your neighborhood. If your neighborhood is attractive to older ’empty-nester’ home buyers, they may prefer to have less bedrooms and a larger master suite. In general, most people are looking for that extra bedroom, even if it is just going to be used as an office or craft room.