Adding value with extra bedroom. 3 bed to 4.

poker--addict

Hi all,

Anyone got experience of significantly increasing value of their home by splitting a large space or extending to turn a 3 bed into a legitimate 4 bed? Ideally looking to talk about examples where the 4th bedroom was a genuine bedroom, not a shoebox that fits a computer desk and gets advertised as a 4th bedroom.

In turn, anyone bought an older 3 bed with a view to refreshing and renovating into a 4 bed with a view to selling?

Thank you in advance for your replies.

Gumbo

Think about where the space will come from to gain the 4th bedroom.
Will it be an extension?
First floor means 2 storey extension, so the total cost of works won’t be recouped back on sale.

Planning, building and contributions costs all have to be considered.

poker--addict

Hi Gumbo,

The extension option would be single floor. Preferred option is to split a large space.

beauf

Depends on the local market. How will it compare to other properties in the same area.

There has been a trend in recent years to have less small rooms and larger open plan spaces. You seem to be doing the opposite. You're not increasing the floor area either. I'm not sure you'd get your money back.

If it's a very large space thats poor use of space, and you're improving the layout, maybe it would add value.

dubrov

As above, check local comparable properties.

Family homes would generally price on floor area as opposed to number of bedrooms. The trend is for smaller families anyway so 3 beds are becoming more the norm for a family requirement.

Rental properties may increase in value with a fourth room

poker--addict

Good points on the trends. On the area, it might be location specific but the sell price gap between 3 and similar 4 beds is bigger than I expected. It might be a location thing or just a recent anomaly.

It raises the option to buy and extend or reconfigure, and if value doesn’t increase sufficiently then revert to renting. Don’t know if the whole idea” is a thing”?

beauf

A lot of 4 beds are considerable bigger than 3 beds. They may also have an extra WC, and or garden. So its not simply a question of layout adding value.

poker--addict

Yes, I have been trying to compare apples with apples only. Supply is pretty poor, the lowest I have seen, so tricky to draw hard conclusions

beauf

No point in spending 30~40k to get the exact same back either.

GarIT

I can't imagine taking space from something like a sitting room to add a bedroom would do anything other than reduce the value.

Adding an extension isn't going to add any more value than the extension costs to build unless you do some of the work yourself to save on costs. Anyone else could have done the same thing, and do it to their liking, why would they pay a premium for you having done it.

Cyrus

GarIT wrote: »

I can't imagine taking space from something like a sitting room to add a bedroom would do anything other than reduce the value.

Adding an extension isn't going to add any more value than the extension costs to build unless you do some of the work yourself to save on costs. Anyone else could have done the same thing, and do it to their liking, why would they pay a premium for you having done it.

People do pay a premium for already extended property though. Some people just don’t want the hassle. But a ground floor extension won’t change your house from 3-4 beds unless you repurpose a downstairs room and most people will still see it as a 3 bed with someone sleeping in a living room.

listermint

I don't see people paying a premium for an extension. People will pay a premium for the right property. Extension has nothing to do with it. You can extend the wrong property all day long.

brisan

listermint wrote: »

I don't see people paying a premium for an extension. People will pay a premium for the right property. Extension has nothing to do with it. You can extend the wrong property all day long.

Bathrooms and kitchens are about the only things you will get your money back on
Unless an extension is extremely well done you will not get your money back
Splitting a space to make an extra bedroom will not increase the value
Unless you have a large waste of space of a landing I cannot see any financial benefit in splitting space

Claw Hammer

I know a man who, when buying a new house, had a three bed with master ensuite made into a four bed with no master ensuite. Same footprint as all the neighbouring houses. The house attracted a higher rent from the beginning and sold for more at the end.

brisan

Claw Hammer wrote: »

I know a man who, when buying a new house, had a three bed with master ensuite made into a four bed with no master ensuite. Same footprint as all the neighbouring houses. The house attracted a higher rent from the beginning and sold for more at the end.

Ensuite bedrooms are a selling point now
I actually converted a downstairs bathroom and living room into an extra ensuite bedroom

BrokenArrows

We had a large singe bedroom of 38 square meters.
We are currently splitting this into two. Buts that's easy.

Your decision is totally based on your current layout that we know nothing about.

Maybe post a floor plan and people can give ideas.

poker--addict

Hi Broken Arrows.

Current kitchen and living room are one space, in an L shape.

If the L is split, space left is 3.3x2.9M, and 10x5.

Interesting points being made about bathroom, ensuite point makes sense in rental situation.

scamalert

poker--addict wrote: »

Hi Broken Arrows.

Current kitchen and living room are one space, in an L shape.

If the L is split, space left is 3.3x2.9M, and 10x5.

Interesting points being made about bathroom, ensuite point makes sense in rental situation.

so that means your cutting into kitchen area, which is prob as bad as having tiny shoe box room.


i agree on points that in often cases 4th bedroom is only good for tiny office, or maybe to family with kid thats under 3yrs old and you would be hard pressed to call it a bedroom when it literally just fits a bed in there.



since as said no one knows overall total space and layout of your house, but having kitchen thats back to 1950s size is off putting as well.

brisan

poker--addict wrote: »

Hi Broken Arrows.

Current kitchen and living room are one space, in an L shape.

If the L is split, space left is 3.3x2.9M, and 10x5.

Interesting points being made about bathroom, ensuite point makes sense in rental situation.

Kitchens and bathrooms sell houses
Never decrease the size of either

poker--addict

Thanks all, i will post again if i do anything or can share more info.

JustAThought

For various reasons I happened to be looking at properties in Ulverton Road (Dalkey,Dublin) and there are 3 there that might be of interest. All similar (mad) prices. Two are the same house in yhe same row of terrace- numbers 52 and 44 and the ither is an ultra modern style box. The 300k difference is mostly in the styling : its really worth a look to compare. The other one - the new build - has done just what you say - created a lot of quite small but highly styled bed rooms - in what appears to be quite small and cramped rooms with beautiful ariel views. Well worth a look.

The modern one has those stylish wood and glass staircases I love - could you keep your rooms downstairs spacious but convert an attic - you will loose some floorspace to a staircase but there are staircases and staircases.... having your cake and eat it? A dormer or juliette balcony could also make a big difference up there... Whether you recoup your costs in sale is another matter but an attic conversion and en suite up there - or freeing up another room to be a home office / home gym or reduced in size to make a large walk in wardrobe/ dressing room could make an impression...

salamiii

try adding an office cabin in garden if allowed

kippy

I would say high risk. Low reward.
Your perceived figures are all based on you getting more money for a 4 bed than a three bed at some stage in the future. Without anything else it assumes that in generally property prices will remain strong and no minor adjustment will happen in a negative manner. This could chew up all you planned to make just by adding the room very easily. The theres the pain that goes with the building and compliance work to go with the work, never mind the cost itself....

JustAThought

Get a proper landscaper in to hard landscape and style the garden and add a seomra type home office... that would up the value and be a portable asset if the price didnt make the desired grade...

poker--addict

Have we all been looking at Bannon on the late late saying the office is going to be a big part of the house now 😀