5BR vs 4BR

[GWISC]

Contact a local appraiser. They may have done a survey with some agents and other appraisers in the area as to what the market is paying for a 5 vs 4 bedroom and how much additional for the bathrooms. As one poster indicated, it may be a double dip adjustment as this goes hand-in-hand with GLA. It could be that 5 bedrooms are a big deal in your area especially for blended families.

I ask agents, when I get them on the line for one thing or another, a whole host of questions on what the market is doing about x, y and z. Yes, I have done a survey on bedrooms and bathrooms in my area and yes, the agents indicate the market pays more for additional bedrooms and bathrooms, but that is my area. There is a point of diminishing returns on most everything. The market's reaction to a 3 bedroom and a 2 bedroom may be greater than that of a 5 bedroom to a 4 bedroom.

 

[Tru Red]

As a "GENERAL" rule: The appraiser does not adjust for variations in bedroom count as any required adjustment is performed in the square footage adjustment. In addition the appraiser notes that bedrooms do not have plumbing.
In other words, walls can be put up or taken down easily and quickly to call a space a bedroom.

 

[Fritz in NY]

In my market that extra bedroom adds value as it has more "Utility" than a property without. As brit said a 5 bedroom can have walls taken out, but to reconfigure a 3-4, or 4-5 beds WITH SEP ENTRANCES and windows would cost $$$$$$. I adjust for the immediate utility presented and NO, I don't consider it "Double-dipping"

 

[Fernando]

As US household get smaller (less childresn) especially last year with smallest population growth (more Covid deaths, low birthrates, and less immigration) ever in our history, the demand for 5 bedroom is less. Most people can live with 4 bedrooms. I use one of my bedrooms as an office (great for office deduction).
I find larger gross area as more significant.

 

[Fernando]

With households getting smaller, not many need 5 or even 4 bedrooms.
Recently I went to a large house, and bedrooms wasted used as storage rooms.

 

[Fernando]

Then again I remembered one house where owner rented every bedroom getting good rents.
With housing shortage and millenials willing to share kitchen and bathroom, more bedroom homes can get high total rent.