the Property Monger Real Estate Blog

Nothing super original, seeing as I’d like to add a half bath to my 3 family conversion I thought this was applicable… and a great article overall for anyone. 

What is a bathroom worth

So we’ve decided to make a few changes around here.  Nothing massive, but we put in the new theme so I figured it was time for a new name as well…  the Property Monger seemed appropriate enough.

I hope to improve the quality of my blog entries as well as we progress into Blogtopia…

So not too much has really happened this week.  The home inspection went fine, the purchase and sale has been drafted, and reviewed, soon to be signed, the check for the additional deposit has been written, and I’m sitting here waiting to get moving with the property.  So what better to do than…..  BUG MY CONTRACTOR!!!!

I’m sure I’ve already done that enough.  He’s already informed me that I can’t add another three floors or turn it into 6 units thanks to things called “zoning laws.”  But I was figuring that there’s probably enough space to add a half bath in there (take that zoning laws!).  So I made a rough sketch of what the layout is now, and what I’d like for it to look like and sent it to him.  I figured I’d share my architectural talents with my readers as well (note: I have zero architectural talents).

So the top is as it is now (minus the interior front porches). So ideally I’d like to open up the kitchen (with breakfast bar), living room, and dining room,and do away with that middle hallway and the pantry. 

*When we were in the basement the supports were clearly underneath the wall to the left side of the dining room, that’s usually a pretty good indicator that the wall is load bearing, that wall’s not going anywhere.

So if we can take away the hallway and the pantry, I can turn the smaller bedroom into the bigger bedroom, make the full bath a little wider and connect the two bedrooms, and hopefully fit a half bath off the dining room.  My theory is that since we’re already budgeted to redo all the plumbing anyway, as long as we can back it up to the other bath (so the plumbing is all in line) how much more could it actually cost to add a half bath?  Right now I’m assuming that the answer is more tiles, another vanity, another toilet, a little more electrical, and a little more drywall… and another door.. crap, and I need three of everything. 

Oh well, if he says we can’t do it, I think I’m going to ask him to dig a moat around the house… you don’t really see people using moats anymore….

Today I wanted to take a look at 2 bedroom condos for sale in Medford MA.  Let’s just jump right in:

total number of 2 bedrooms for sale in Medford  = 73

number of 2 beds Under agreement                     =11

number of 2 beds sold last month                         =11

Number of 2 beds sold in last 3 months               =35

Average list price of units on the market              = $360,724

Average original price of units sold in last month = $317,427

Average List Price of units sold in last month       =  $308,064 

Average Sales Price of units sold in last month    =    $304,355                

Average price per square foot $255

6.6 months supply

6.25 months supply with 3 month average

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 total number of 2 bed 2 bath for sale in Medford = 42