2 questions

[neona]

... not sure if they can actually be answered, except maybe in general terms.

1.  How bad is the market right now?  Are seller's accepting bids lower than listing price?

2.  If we bought a bungalow with only 1 bathroom, a finished attic and a mostly finished basement, how difficult/pricey is it generally to add an additional bathroom?  If we know we will need a 2nd one within a year, maybe 2, would we be better off to keep looking?  Personally, I'd love to turn the attic into a master suite.  Am I just dreaming?

Thanks!

[Bonster]

I added a 2nd bathroom in my basement, and it may be the single greatest upgrade I've made.  Not sure about the prices, as I did it myself, but I can tell you as someone who came from 2 bathroom rentals that whatever the cost of an additional bathroom (even just a powder room) is WELL WORTH IT!

[Hogzilla]

... not sure if they can actually be answered, except maybe in general terms.

1.  How bad is the market right now?  Are seller's accepting bids lower than listing price?

2.  If we bought a bungalow with only 1 bathroom, a finished attic and a mostly finished basement, how difficult/pricey is it generally to add an additional bathroom?  If we know we will need a 2nd one within a year, maybe 2, would we be better off to keep looking?  Personally, I'd love to turn the attic into a master suite.  Am I just dreaming?

Thanks!

The first question is an easy one. Absolutely yes. Check comps in the area and offer accordingly. We got about $6000 knocked off of ours. In retrospect, I wish we had stood firmer, but we still got a great house.

The second one is much more personal and more specific to the house. Where would you want to set up this second bath? How is the plumbing rounted and could you tap into lines close to where you want to put it or would you be doing extensive plumbing work? It's a little more complex. Once you have a specific house in mind and have had an inspection where you could discuss this with someone you could get a better idea.

Unless you are under a heavy time cruch to find something, take your time you will probably find something with 2 baths.

[Bru67]

1.  How bad is the market right now?  Are seller's accepting bids lower than listing price?

Absolutely horrendous (and not just here either).  Definitely a buyer's market.  If you're in a position where you don't have to sell something, you're in the "Cat Bird Seat," as they say.  Absolutely offer less than the asking price.

2.  If we bought a bungalow with only 1 bathroom, a finished attic and a mostly finished basement, how difficult/pricey is it generally to add an additional bathroom?  If we know we will need a 2nd one within a year, maybe 2, would we be better off to keep looking?  Personally, I'd love to turn the attic into a master suite.  Am I just dreaming?

Depends on whether you have to install an entire plumbing system.  If you do, that will probably cost a lot, but the majority of Berwyn bungalows by now seem to have at least a half bath in the basement and attic.  I'd probably consider that mandatory in your shoes.  We turned our little water closet in the basement into a full bathroom, complete with a vintage claw tub, without too much difficulty.  Can't say what it cost because it was part of an entire remodel.  Pricing would vary widely depending on what you wanted to do obviously.  You could do a no-frills IKEA bathroom or a grotto with imported Spanish tile, 32 head shower jet kit, Italian silk shower curtain with 18-carat gold rings, hot tub, heated floor, and bidet (like Bonster).  Obviously, the difference could be in the 10s of thousands.

Contractors are hurting because no one's putting money in their houses anymore, so they're looking for work.  Be sure you research carefully and get a good one though.  Many posters here can tell you horror stories of bad contractors I'm sure.  No fun at all.

[neona]

Thanks, we are definitely in the "cat bird seat" as we are currently renting, and the month-to-month lease starts April 1.  The house with one bath (and only 1 bath, no half or anything else to my knowledge) is an older looking bungalow on the south side not to far from the park.  It is lower than the high limit for our budget by around 20,000.  The other house is north of cermak and is over the upper limit of our budget by about 15,000, but already has the full second bathroom, as well as more room and more updates have been done.  Our budget is lower than what we can actually afford, but in consideration of the economy and not just the real estate market, we want to be very careful with what our monthly payments will be, just in case.

ETA - the more expensive house has 3 bathrooms, not 2.

[watcher]

... not sure if they can actually be answered, except maybe in general terms.

1.  How bad is the market right now?  Are seller's accepting bids lower than listing price?

2.  If we bought a bungalow with only 1 bathroom, a finished attic and a mostly finished basement, how difficult/pricey is it generally to add an additional bathroom?  If we know we will need a 2nd one within a year, maybe 2, would we be better off to keep looking?  Personally, I'd love to turn the attic into a master suite.  Am I just dreaming?

Thanks!

The market is not as bad as it could be. You're looking as are others. What sellers are doing varies from situation to situation, their motivation to move, how long they owned it and how much they paid. Some sellers are more motivated than others, ranging from mild to desperate. The foreclosure path might seem attractive except that the embattled owners and/or the mortgage holder might easily be holding more than the home could currently fetch in today's market.

If you're certain that you can survive a major addition/remodel, I would look for estate sales or long-time owners who've not done a ton of upgrading. They can accept less and still make money. You can use the savings for your remodel turning the end result into something tailored to your needs/desires.

One of the benefits of "Bungalow Style" is the presence of plumbing walls. Locating an additional bath is simplified by using the existing runs.
Expanding into attic space is often seen as the way to go, but please remember that you've bought a BUNGALOW! Blowing off the roof and adding a double wide
is tre uncool. Use a sensitive architect and a bit of imagination and you'll wind up with something to cherish.

Expect to exceed your ballpark estimates by at least 60%.

Now, just do the math. If you can find an already "blown" bungalow with the bellznwhistles you love within your comfort range, then by all means jump on it.
If not, find a diamond in the rough and make it shine.


I feel I must add to beware of flippers. If a house has been churned, it may have more than its share of cut corners to maximize the profit.
Quickie flippers slap a coat of paint, some shine, and are aimed at a finished product more than craftsmanship. (Think IKEA versus Ethan Allen
Particle board versus real wood...) It may look great today, but...

[OakParkSpartan]

Look at the threads started by Tony La in this forum named "<Month> <Year> Closings".  They seem to indicate the going market rates for homes in the area.

[MRS. NORTHSIDER]

If possible I'd go with something with more than 1 bath.  Our former home had only 1 bath and even when there were only 3 of us it got a little crazy.  Our current home has a full bath on the second floor and a half bath on the first that a former owner crafted out of what use to be the walk-in kitchen pantry.  We couldn't live without it.  Also, unless you or someone you know is quite handy adding another bath at some point could get quite expensive.

[Bonster]

Our former home had only 1 bath and even when there were only 3 of us it got a little crazy.

Tell me about it!  We have 2 people and, depending on what we just chowed, having only 1 bathroom was Hell on Earth.

[Hogzilla]

One bathroom after an evening out at the local taco joint just don't work. 

[neona]

Well, we definitely know that if we go the one bath route, the next bath has to be added within the first year.  We have only 1 in our apartment.  Usually with just the 2 of us it is ok, but add in the kid on the weekends and there are some crazy moments.  Add in a guest or 2 in the guest room and it's um ... fun.       Thanks Watcher, didn't know about the walls in a bungalow.  What were you referring to regarding exceeding 60%?  Monthly mortgage costs?  Remodeling costs?

We've actually considered going the forclosure or short sale route.  We have the time, but it seems to be a little more risky than we have tolerance for.  It seems like you can lose that few thousand in earnest money, and we don't have enough to lose.

As far as remodels, my man is pretty handy, as long as we have a really good foundation and something we can live in while remodeling, there are a lot of things he can do.  Put the plumbing in?  No.  Put in everything else after the plumbing is in?  Yes.  We saw some houses on the market that were completely gutted.  That would be so fun to create and work with, but can't afford to pay a mortgage on a place we can't live in (and still hire the plumber, electrician, etc.  And don't worry about putting an entire 2nd level on a bungalow.  Honestly, I LOVE bungalows.  I'm not looking to live in a mc mansion.  A few years ago I lived in a small bungalow in Des Plaines.  The dark wood trim was all still there, the glass doorknobs.  The attic was finished with just the front and back window bumped up.  The bedrooms were small and the bathroom the smallest I'd ever been in except for a cruise ship.  But I loved it.  Why would I need a huge bedroom?  We saw the pictures of some of the horrible add-ons in another thread.  We were horrified.  The only thing I really want is a soaking tub.  But if it can't happen, then it can't.  It's not a deal breaker.

[Bonster]

It sounds like he's handy enough you can pay for just the rough plumbing, electrical, drywall, then you finish the toilet, sink, painting, fixtures. 

When I put in my bathroom downstairs there were a few things I brought contractors in for...
- plumber for attaching the PVC to the cast iron soil pipe (I went with a sump/ejector pump as I was too far from the main sewer line to connect directly; didn't want to tear up the entire basement floor)
- had a roofing guy put flashing around the new vent thru the roof. 


Though I have a running thread about them, I think there's nothing wrong with dormering a bungalow.  It's all a matter of how tastefully you do it (i.e. keeping within the lines of the house, matching materials, etc.).

[neona]

I noticed that 6 page thread.  Since I'm sitting for the next couple hours in the car repair shop I think I will read that one next!

[tony la]

There are many options for you since you are a renter.  This is also a good market even if you have a home to sell also.  Some people are gaining more equity in selling their home at a little loss but making it up on the buy.(THE TWO HAIRCUT SCENARIO)

There should not be any risk in this market for a buyer who has nothing to sell though.  Plenty of inventory that has clear title.

[neona]

This is also a good market even if you have a home to sell also.  Some people are gaining more equity in selling their home at a little loss but making it up on the buy.(THE TWO HAIRCUT SCENARIO)

Hey, thanks Tony!  I never thought of that.  My ex is thinking of selling the Des Plains bungalow but doesn't think he can sell it for enough.  I'll tell him what you said in case it makes a difference (an amicable divorce in case anyone is wondering).

[Nazerac]

Sometimes I wish my bare bungalow had more upgrades/updates; however, as I add the improvements myself, I always feel that I am getting what I want, and set up the way I want it.   It's nice to add your own personal touch to the house.

As for the cost of adding a bathroom, it depends on how much work/updates needs to be done, it can easily be done with less than 10K.  For about 5-7K, you can cover, at the least, all your plumbing work, electrical, flooring/tile, drywall etc.   As far as equipment, your basic enclosed shower is about $500, and for another $500 you can get a nice vanity, cabinet and a toilet.  

[MRS. NORTHSIDER]

Considering that it is such a buyers market I would try to find a home with more than one bath - I look online and there are so many great deals in Berwyn right now.  Are you stuck on a bungalow or open to other home styles?  We live in the Lavergne historic section of Berwyn (Ridgeland to Harlem are the east-west borders and 31st to Ogden are the north-south borders).  There is a myriad of different architectural styles.  You will find Victorians, American four-squares, prairie style, farmhouses, bungalows and even some newer (1950's or 1960's) raised ranches.  Also, Proksa Park is right on the northern border.

[neona]

Not completely stuck on a bungalow, but it is one of my favorite house styles.  We may be a little bit limited as our budget puts us out of the market for the many of houses that we like.  Part of me likes the idea of fixing up the inside to be what we want it to be, part of me just wants it done already when we move in.  And we have time, so it's not like we have to pick from what is out there right now.  We've also been hearing news about interest rates going down again, and perhaps the market dropping even more.  Possibly sad for those trying to get out of their home, but good for us.

I don't really see anyone talking about east of Ridgeland ... is it a less liked area?

[Bonster]

I don't really see anyone talking about east of Ridgeland ... is it a less liked area?

Being closer to Cicero, it's seen as being more Hispanic, but it "looks" the same to me as just about anywhere in Berwyn.
If you read the Berwyn Police Blotter you'll see that crime is spread pretty evenly throughout the town these days.  Tons of calls in "upper South" Berwyn. 

Truthfully, some of the nicest North Side red brick bungalows are from 19th on up to Roosevelt, east of Ridgeland.  In particular, I adore the 16 & 1800 blocks of Cuyler and Harvey.  Some gorgeous structures with custom cement work, and great history.  Last time I drove by there taking pics it was as peaceful as anywhere else in town.

If you look in the Reminisce about Berwyn category, you'll see about 90% of the threads were started by Berwynson, a man who grew up at 1805 Harvey.  Great reads.

[MRS. NORTHSIDER]

I'm sure you have read all the pros and cons of North and South Berwyn!  After living on both ends I will attest to one thing - your zip code will certainly be 60402!