My wife and I have an 1100 sq ft, 3 bd 1 bath, 1946 Bungelow that We have nearly completly remodeled. We preserved it's vintage charm but added modern conviences. It has an attached garage conversion mother-inlaw unit and a new garage. We have put in new wiring, plumbing, vinyl windows, hardwood flooring, cusotm kitchen cabinets, central AC/heat, insulation, roofing, and paint inside and out. New flat work, landscaping and vinyl picket fence. Lots of sweat equity, money and love went into this home. We have one bedroom left to finish and the project will be entirely done!
Here is the question: We are considering converting two adjoining bedrooms into a master bedroom and bath. This would work well for us as our childeren are grown. However, we plan on selling within 3 years. Of course this would be a DIY project. The mother-inlaw unit is attached by a breeze way so it is not technically considered a part of the main house. What is your opinion or advise relative to resale potential and valuation regarding converting to a 2 and 2 or finishing as a 3 and 1?
We did something similar about 10 years ago and when we went to sell, we got crushed! We reasoned that someone like us (kids gone) would want the same thing.....fewer bedrooms but larger spaces ..... but it meant we reduced the potential number of buyers and reduced the true value of the home. Of course, a lot depends on where you live. If you are in an area where it is all retirees, it might not matter. For us, it was a big reduction. Best of luck!
Also, why not find a way to connect that mother-in-law space? Might work.