Easy question about room count

[J Grant]

Normally, larger houses have more rooms and smaller houses fewer rooms ( doh). The # of rooms is already baked into the sale prices.

I would only adjust for overall room count if a property owner removed walls of rooms to creat a big open space, or added walls to make a labyrinth of makeshift cut-up rooms - both cause function obs (typically) -I have seen both on occasion.

 

[Dublin ohio]

I would only adjust for overall room count if a property owner removed walls of rooms to creat a big open space, or added walls to make a labyrinth of makeshift cut-up rooms - both cause function obs (typically) -I have seen both on occasion.

From you above description and reasoning. I would think it would be a functional utility adjustment as opposed to room count

 

[J Grant]

From you above description and reasoning. I would think it would be a functional utility adjustment as opposed to room count

It amounts to the same thing - we can adjust either place and explain ! Removing walls from rooms or cutting up spaces to create a warren den of rooms has created obslesence, which in most cases hurts market appeal ( unless that is not the case...which is why each appraisal is different )

 

[TerryRohrer]

It amounts to the same thing - we can adjust either place and explain ! Removing walls from rooms or cutting up spaces to create a warren den of rooms has created obslesence, which in most cases hurts market appeal ( unless that is not the case...which is why each appraisal is different )

How do you measure the impact on value?

 

[shrubberyvaluation]

You make adjustments (or don't) depending on market reaction to the feature. There may be some markets where buyers will pay more for additional rooms. There are others where they won't.

Sometimes they may pay less! Think about having a house with a bunch of small rooms. A house with a living room, dining room, kitchen, and 10 small bedrooms might be great in a college town, maybe not somewhere else, all depends on the market.

 

[CCAAMO]

All questions are easy, its the correct answer that can be hard

 

[Tom4value]

Never mind the room count. Look at functional utility. Many houses have big, open areas for the kitchen, dining, living and family “rooms”; in quotation because you don’t know where one room begins and another ends. Good thing or a bad thing? Get different answers. On the other end, how many times have you seen flippers or owners taking down walls to “open up” an area or turn two small bedrooms in two one large one?