Selling, value and bathroom question
We're looking for Real Estate opinions on adding a bathroom and value. We want to add a second bathroom but have split opinions on where to put it as the cost differences are high.
Situation. "Antique" three bedroom house in "upscale" town of much larger and expensive houses. Currently there's one small bathroom upstairs. Our best choices are a bathroom addition to the first floor (there's no decent space to convert to a bathroom in the existing footprint) at a cost of $50,000ish; or, converting a small 5x8ish study upstairs (we could afford to lose this room and the room would just need a door added to make it a master bath) at a cost of around $20,000. Both bathrooms would have a reasonable size shower stall.
- For us, an extra bathroom is needed for convenience; neither upstairs or downstairs is really more convenient than the other.
- We're unsure how long we'll be here (we may actually be moving soon for a job, but if not we want to get started on this project asap). So, if we do the bathroom, we can assume we'll be here at least 5 more years, maybe much much longer.
- The big question: Is one situation more preferable to buyers? Guessing that downstairs bathroom is, but is it enough of a preference to spend another $30,000? House is valued around 500k+
Thanks for the input.