My house is 2450 square feet. It is a 2 bed 2.5 bath but has den. I am looking at converting it to a 3rd bedroom. Will that increase home value alot?
If it does increase, is there an average price like 5k, 10k, 20k etc
(0) | asked by: Aftyn Beaird | share | 8 months ago | Report
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Good Morning Aftyn, The square feet in a home is what is appraised. The value would be to the buyer who is looking for a 3 bedroom vs a den. On the other hand some buyer's prefer the 2 bedroom with the den as a flex room to use as they desire. If you do convert, the den would need a closet in order to be considered a bedroom.
If you do it with plans and permits and once you obtain the Certificate of occupancy you register the upgrade with the County appraiser's office. Regarding the price increase, yes it does increase but you would need to check prices in your are for 3/2 homes to see how much it would increase.
Not necessarily but it will increase the number of potential buyers because a 3 BR, 2.5 BA home seems to be more favorable to more buyers. Converting to a 3rd bedroom would require a closet in that room. An entrance to the hallway would be seen as favorable also.
This can be a great idea. If done right, the added square footage value can be equivalent to the neighborhoods recent sales. However, if you lose a garage or use to much of the yard you may not get the value out of it. I would recommend having an experienced Realtor walk your home and review a recent market study prior to investing any money. Hope this helps!
Marketing your home as a 3 bedrooms with a home of your size (vs 2 bedrooms) will give you much more exposure on a wider search scale that buyers request more often. It is not easy to say exactly the value it gives because you are not increasing the square footage, only altering your basic marketing points. You are giving more options while increasing your exposure, which is priceless. Most home market values are broken down by price per square foot (psf) when using recent comparable sales from your area. You are giving yourself the opportunity to be included in a larger pool of prospective buyers who are searching online. When you sell a home, you want to open it up to the LARGEST POOL OF BUYERS POSSIBLE. Cost is key, if you are adding just a closet - may be minimal, more for a window. General public perception or rule of thumb for a bedroom ? Interior door, closet & window... you can always state in your advertising remarks that your versatile 3rd bedroom can be optionally used as den or office (yoga room, workout room or whatever fits the need). Hope this helps and good luck to you, 2017 is going to be an epic year for values! Becca :0)
Good Afternoon, sometimes it is worth doing the renovation to get a higher value. You may not need to do anything depending on your location and condition of your home. Most Buyers understand they can convert a room into a bedroom such as a den. It may not be worth the headache to create that change...
Absolutely! The most requested single family home includes 3 bedroom, 2 bath. Being a proactive Seller, please contact me at your convenience for a further consultation analysis.
Generally speaking, a three bedroom home will appeal to a greater audience and command a higher value. But there's a reason for the use of "generally," as to give exception to when a conversion may not be the best idea. Two that immediately come to mind are: when the conversion will destroy the flow, light, and space of your existing floor plan, and the location of the den/bedroom in proximity to the bathrooms. With consideration of the two (and there are more,) I suggest contacting an agent who can see the work you intend, and weigh that information against other/existing homes in your neighborhood. Best of luck!
Yes! Having an additional bedroom will open up the number of buyers that will be interested in purchasing your home! 3 bedroom 2+ bath are the most commonly requested types of home. This will allow your home to be sold more quickly at a better price! Of course the price increase will depend upon your market but the likely increase you will realize could be up to $10K. Not bad for adding a closet! One thing to note, if you are on a septic system you will have to make sure the septic is permitted for the additional bedroom. Good luck!
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