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Old 04-15-2024, 12:25 PM
 
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I'm curious....if you saw 2 houses that were practically identical and in the same neighborhood but one was a 2 BR and one was 3BR, how much would you feel that additional bedroom would be worth in value? Assuming a major metro city,e g. Atlanta, Nashville, Houston, etc.
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Old 04-15-2024, 01:07 PM
 
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A 3 br is not practically a 2 br.
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Old 04-15-2024, 01:29 PM
 
Location: Lexington, Kentucky
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Most people could always use a third bedroom, if not for a bedroom, a guest room, an office, a den etc.
I guess it would depend on how many were going to live in the house though, and their needs.
It seems to me that homes values are at least partially usually determined by the amount of rooms and square footage.
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Old 04-15-2024, 01:34 PM
 
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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I would suggest an average increase of about 15%, but the dollar amount depends on the costs in the area. Here in Sammamish WA there are none that small but if there were 15% would add about $240,000, while in a city away from the coast like Moses Lake WA only $45,000. Based on the median home in Houston as you mentioned, $50,850. Reality may not fit that however, because it also depends on the priorities of buyers in the area. Looking at the old, smaller home neighborhood where we bought our first house in California, a 2 BR is at $830,000, and a 3 BR next door, same size lot and age is at $903,000, a difference of $73,000.
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Old 04-15-2024, 03:50 PM
 
Location: on the wind
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If those two houses were "almost identical" meaning that all three bedrooms in close to the same square footage were cramped and tiny, it could affect how well the house functions overall.

Other rooms a house offers and how it's laid out could play into how much value a 3rd bedroom might have over a 2. For example:

Someone who only needs 2 dedicated bedrooms for family but also works from home or has frequent visitors. If the 2 bedroom house offers an office/flex-space, that might be a suitable substitute for an actual 3rd bedroom. Paying more for another house with a 3rd bedroom may not be worth as much to them.

FWIW, my current "starter home" is a pretty modest 3 bedroom/2 bath house. The master bedroom (including the closet space) is generous, the 2 secondary bedrooms/closets are quite small. OK for little kids but older or adults? Not very workable. The rest of the house (living room/kitchen) is totally open. As it is, the house works just fine for me. Well-designed pantry, hallway, and linen closets help its functionality quite a bit. One of the secondary bedrooms serves as my office/library/workroom and the other is a guest room. I live in a tourist destination so can expect annual visits from friends/family. No one's tripping over suitcases piled in the living room or sleeping on the couch!

Last edited by Parnassia; 04-15-2024 at 05:02 PM..
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Old 04-15-2024, 04:20 PM
 
Location: Ocala, FL
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Along the lines of the OP's question, my home is a 4 bed/2 bath as built, but the same contractor built a 3 bed/2 bath model with the same basic layout and the 4th bedroom is open to the family room (no walls enclosing it). Both models have the same total square footage. Any opinions about that? In that case, would there be a price difference?
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Old 04-15-2024, 04:58 PM
 
Location: Sarasota/ Bradenton - University Pkwy area
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When there are two basically identical homes located in the same neighborhood that have the exact same square footage and the only difference is that the first home has 2 bedrooms while the second home has 3 bedrooms. The second home will most likely be appraised for more than the first home.

However, appraisers also take the square footage of the bedrooms into account. There are requirements that the ANSI (American National Standards Institute) have put into place for home sellers as far as what a bedroom really is. Generally the first bedroom in a home must be a minimum of 120 square feet, after that any other spare room that is a minimum of 90 square feet is considered a bedroom. In our area the bedrooms must have at least one exterior window as well.

The simplest way to "guesstimate" the value of 3 bdrms vs 2 is to compare to locate a recent sale of both a 2 bdrm and 3 bdrm home in your immediate area that are as similar in size, layout, condition as possible. Then compare sale prices.
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Old 04-16-2024, 04:17 AM
 
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when i built my house the county would not let me build a two bedroom due to property tax value, I had to build a three bedroom
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Old 04-16-2024, 05:10 AM
 
Location: Tricity, PL
61,647 posts, read 87,001,838 times
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Quote:
Originally Posted by Bonferroni99 View Post
I'm curious....if you saw 2 houses that were practically identical and in the same neighborhood but one was a 2 BR and one was 3BR, how much would you feel that additional bedroom would be worth in value? Assuming a major metro city,e g. Atlanta, Nashville, Houston, etc.
Same sqft? That would mean that in a 3 bdr house the rooms are smaller than in a 2 bdr house. The price of a 2 bdr house might be higher than a same sqft 3 bdr house. Most people want bigger rooms.
An appraiser is focused on the amount of sqft in a house, not how many bedrooms there are.

Generally, the appraisal value will usually only go up with an additional bedroom if it comes in the form of additional square footage.

All depends on the market, though.

In Houston:
About 15-20% depending on location

https://happenhouston.com/blog/how-m...-a-bedroom-add

Also read this:
https://orchard.com/blog/posts/how-m...dd_a_bedroom_1

Last edited by elnina; 04-16-2024 at 05:19 AM..
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Old 04-16-2024, 12:25 PM
 
Location: under the beautiful Carolina blue
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We looked at a 2 BR many moons ago (like 30 years ago). Fantastic location. But the house was in the $300ks and the neighbors were in the $500Ks. And there was NO room to expand it, at all.

The unseen cost is the time it sits on the market waiting for the perfect buyer. Because a couple wanting to start a family isn't buying it. A family isn't buying it. Downsizers? Maybe, if they are in good physical shape and haven't thought about stairs yet ( if it's a two story house).

My sister bought a 2 BR by the way. They stayed two years, they wanted to expand their family and the house was already at the max of their budget so that expansion wasn't going to happen. It did happen to be a ranch. Great house for empty nesters. And yes they were told by reasonable people not to buy it in the first place.
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