An additional bedroom could be worth the additional cost especially if you need more living space, more storage area or if you just want more space to move around in your home. In some neighborhoods, a 2-bedroom is perfectly alright with an additional small bedroom, but it is not recommended because the additional cost could prove to be more money in the end. It does not mean that it is wrong to opt for an additional bedroom, just make sure that it is the best decision that you could make. Here are some tips on how to go about having an additional bedroom in your home without spending too much.
First of all, check out your property to see the existing and future plans like renovations, adding an extra bathroom, adding another floor, etc. Then, check out your monthly budget to see if there is any room for an additional bedroom. The next thing you should do is to check the current and the upcoming local and national rents for the median rent amount that your area is expected to have. You can easily find these local and national rents at Zillow, the largest real estate website in the United States.
If you are going to rent an additional bedroom at a lower rate, try to check out the existing amenities at your home office like the Wi-Fi, cable, DSL, etc. If there is already a high-speed internet connection at your home office, then it would be a good idea to get the same in your new rented apartment. Also, try to see if there is a gym facility near your present location. Many home offices in the United States are located near major metro areas, and therefore, there may be a gym where you could go to workout and keep your body healthy.
Another tip that you can use in order to determine the right size of the additional bedroom you plan to rent is to first look into your current home office and check out the space that you have. Determine the total number of square feet of space that your home office has and then compare it with the estimated size of the additional bedroom that you are planning to rent. You can use the percentage sizing method in order to determine the correct sizing. For instance, if you have a 4-wall unit and it is a two-story home, then you would use a sizing ratio of 2-thirds of the total square footage of your home office in order to determine the correct sizing. The same will be applied to the bedroom as well.
If you are going to rent an additional bedroom in your home, but you do not have a lot of disposable cash, you may want to think about the metros in your area. There are many people who have jobs that they travel to different parts of the United States or even other countries. If you have a job that will allow you to do so, then you might want to purchase a house in a popular metros such as New York, Miami or San Francisco in order to increase your monthly income.
If you decide that the metros in your area are not as lucrative as the ones in other parts of the country, then you will still be able to afford a house in those cities. In most cases, renters do not have much flexibility when it comes to renting their homes. Most of the time, they are stuck with the terms of the rental contract unless they can come up with an additional sum of money to pay a higher rent. In this case, the monthly income can go up due to the increase in monthly cost for an additional bedroom.
The higher the monthly rent for an apartment, the higher the cost for an additional bedroom. You will have to calculate the difference between the actual cost for the new bedroom and the amount of money needed for an addition. This can be tricky since many people believe that they are getting a better deal by paying a slightly higher rent. However, in most cases, the additional bedrooms are only reasonable if the rent on the main residence is also raised. In most cases, renters who pay the same amount for a one-br and a two-br will not have much room to raise their salaries.
In this case, it will be wiser to get an extra bedroom in the premises just for the sake of convenience. This will help you save money if there is a gap in your schedule. Also, having an additional bedroom may make living conditions convenient as well. For example, you won’t have to go shopping twice to get the same clothes because you have a spare bed for guests. If you are thinking of purchasing a home in an area where there is not much demand for additional bedrooms, then it will be wise to wait for the market to improve and your property to appreciate in value again. After all, when the value of your house goes up because of an improvement in its location, you would be able to sell it easily even at a higher price.