Apartment conversion

[Bill87]

Hi all,

Hoping to get some opinions here. 

I'm converting part of my home to an apartment. At the moment the builiding is used as a recording studio which adjoins my house.

My options are to convert to a 3 bedroom apartment or a good sized two bedroom apartment and keep part of the building as a small recording studio mainly for my own hobby use. Obviously I know I can't be recording/playing loud music with guests next door but I wonder how often I'd I get 3 room bookings or would it be worth offering a "record a song" service to guests for fun for an added cost instead and still have my studio. Probably impossible to answer accurately as I'm sure location etc. etc. counts but open to ideas or opinions.

Any thoughts?

Thanks in advance

[Paul154]

Why limit yourself?

You can also have 2 or 3 private bedrooms that share a common bathroom and living space/kitchen.

You'd make more money.

[Linda108]

Where are you located, @Bill87?  Are you in an area that has business travelers, vacationers, event attendees?  More bedrooms means more people which means more work.  On this platform, you could have two listings and have two separate parties to manage or you could offer both rooms to the same party.

[Isabel203]

Be sure to check out the tax implications - making structural changes to the house for the purpose of renting can affect your tax situation if/when you resell the home. Depending on where you are.