2 Bedrooms Or 3?

[Mike Topp]

We are in the process of refinancing our house. We had an appraisal done last week. Our LO called on Friday to inform us that our house only appraised at 130k. The appraiser said it was basically an oversized 2 bedroom house. We feel it is at least a 3 bedroom house. When looking at comparable houses on the market now. All 3 bedroom houses are falling in line with what we were expecting this house to appraise at. All the 2 bedroom houses are pretty close to what he appraised it at.

We bought the house 2+ years ago as a duplex. It was originally a single family home that was later turned into a duplex. Both units had 2 bedrooms. We have turned it back into a single family home.

What is considered to be a bedroom? A room with 2 exits and a closet? The room on the first floor that we are using as our living room has a closet and doors. This was considered 1 of the bedrooms on the first floor when we bought the house. Our appraiser missed this closet in the sketch and labled it as a living room. The closet does not have any doors on it at the moment and has our entertainment center recessed into it. I can see how he would have missed it as a closet. The other room is a den/office with a closet that was the 2nd small bedroom on the first floor when it was bought. You have to walk through this room to get to the now living room.
The second floor has 4 rooms total. 2 bedrooms, a den, and a kitchenette (still has sink and cabinets, no stove or fridge)
Basically, this is a big house with lots of "rooms" instead of a big house with lots of open space. The house was built in 1889.
I've tried to explain this the best as I can. If I'm unclear about something, please ask and I'll try to explain it better.
What would you as appraisers consider this house to be? 2, 3, or 4 bedrooms after we rip out the sink and cabinets in the kitchenette and build a closet in place of them?

 

[Pamela Crowley (Florida)]

To be counted as a legitimate bedroom it needs:

A window or door to the exterior.
A closet if a built-in closet is typical for the style/age of the house and it's comps.
Cannot be accessable from the interior through another bedroom or a main bathrooom.
Must be able to access a bathroom without having to walk through a living room, dining room, kitchen or recreation room (any main living areas).
Large enough to be able to have a bed, side table, dresser - big enough to function as a bedroom that one could move around in.

Hope this helps.

 

[Tater Salad]

You have to walk through this room to get to the now living room

If this room is to count as a bedroom, then you don't have a living room, you have a bedroom suite. Would you want someone walking through your bedroom at night to get to the living room?

ALSO: are the 3+ bedroom homes that you are using for comparison also converted duplexes? If so, then they may have the same issues with the bedrooms that you do. If not, then I can only speak about my market. In my market, converted duplexes (more precisely homes with a converted duplex layout) will sell for less than a single family home that has always been a single family home. The ones that compare equally are those conversions that are done so well that it is hard to tell from the floorplan that it was ever a duplex.

Hope this helps.

 

[Mike Topp]

Thank you both for you input.