Make sure the walls are not load bearing and can be safely removed. Open plans can be great. Be sure the toilet is in its own room, for privacy and honestly, who wants to see it? Also, double doors would be nice so you can close off the bathroom area. Makes the master suite cozier or open when you want to have the space. Natural light and neutral colors with dark accents will give what you described as a small bathroom the feeling of spaciousness and increase value without the expense of a huge remodel. Please post before, during and after pictures!

You might also want to consider your lifestyle before you commit to this. Living in a house with an open master bathroom was very frustrating for us when my spouse was travelling a lot and had to get up at 4 or 5 am. A dimmer switch helped control the light somewhat (although sometimes compromising the accuracy of his shaving!) but nothing could deaden the sounds we all make in the bathroom - teeth brushing, shaving, hairdrying and others. If you don't want to wake up every day at the same time as your partner, or vice versa, don't do this.

snevin, you have a very good point. We do have a chaotic, often unusual schedules. This might be an issue, but I try to use the other bathroom to get ready when he's sleeping...

aroomfullofjoy, That would definitely be a must for the closed off toilet area. :)

Thank you for the ideas!

I would not do this. I think it will be disastrous for resale. I have two examples of open master bedroom/bathroom combinations in my "What were they thinking?" Ideabook, which suggests what I think of them:

I would not want an open bath. I don't even like to see closets that you have to enter the bath to get to. What if someone is using the bath and you want to get something out of the closet? And I keep thinking of all the moisture from steamy showers on the clothes. Open baths to me speaks of not enough space.