Does an 800 sq. ft. Philadelphia Condominium become more valuable if you start adding walls?
Here is what I believe to be correct:
1) You will lose value if you turn a two bedroom condo into a one bedroom condo by removing walls. Improving the size of the living room does not add value. At all.
2) Any huge one bedroom unit that can visually and logically be turned into a two bedroom condo- should be.
3) A cheap 2 bed VS a cool 1 bed? Depending on sooo many factors- primarily square footage, location, prestige of building, interior condition, etc, etc. A 2 bedroom gets you divided rooms- but can that top (say) a stronger building in a stronger location inside a 1 bedroom unit?
4) Whether the walls completely seal off a bedroom, or bedrooms are cordoned off by half-walls, in most instances will not affect value of any given unit.
5) I think that if we were talking a Beach House, then yes….go for the 2 bed. With the plethora of hotels in town, perhaps the value of more “rooms” in a Philly loft is diminished a bit.
Agree, disagree? Lets hear it….
Prudential Fox and Roach REALTORS®
530 Walnut St., Suite 260 Philadelphia, PA 19106