We took that space for the bathroom and had the wall rebuilt. This gave us the space we needed to re-arrange things enough to fit a five foot bathtub in the bathroom - otherwise we would have been stuck with just a single shower.
We don't lose anything of consequence in the bedroom but this makes a big difference for the bathroom. It's the only one on the main floor - so it was worth it to us to put some money here.
The structure work we paid for instead of doing it ourselves. The other piece of work here was venting the bathroom to outside instead of the attic. The way it was venting was a pretty big mold risk. There was electrical work here to move the fixtures and plumbing work to do the same.
After that work, there was dry walling to be done. Here's a shot of that after it was finished.