Is it a bedroom or not?

[refiman]

I'm doing a refi and I need my house to appraise at 250K (zillow has it at 259K) . Turns out the house right next to me was sold within the last 6 months for 250K. Houses are very similar except that house is listed as 3 br, 1 ba and mine is 2br, 1 ba. However, before I bought my house, a sunroom was added. According to this article: http://sacramentoappraisalblog.com/...ements-for-a-room-to-be-considered-a-bedroom/ my sunroom meets all the criteria for a bedroom, thus technically making my house also a 3br, 1 ba house. My goal is to have my house appraise for 250K so I can get the 200K refi mortgage. My question is how much of a chance is there for the appraiser to recognize my sunroom as a bedroom so my house can be viewed like my next door neighbor's house, as a 3br, 1 ba house? Or despite meeting the criteria, will I end up being out of luck?

 

[Ricky LaFleur]

Trying to get rid of PMI? Just curious why it's gotta hit that amount.

 

[glenn walker]

I'm doing a refi and I need my house to appraise at 250K (zillow has it at 259K) . Turns out the house right next to me was sold within the last 6 months for 250K. Houses are very similar except that house is listed as 3 br, 1 ba and mine is 2br, 1 ba. However, before I bought my house, a sunroom was added. According to this article: http://sacramentoappraisalblog.com/...ements-for-a-room-to-be-considered-a-bedroom/ my sunroom meets all the criteria for a bedroom, thus technically making my house also a 3br, 1 ba house. My goal is to have my house appraise for 250K so I can get the 200K refi mortgage. My question is how much of a chance is there for the appraiser to recognize my sunroom as a bedroom so my house can be viewed like my next door neighbor's house, as a 3br, 1 ba house? Or despite meeting the criteria, will I end up being out of luck?

Its a 2 bedroom 1-Bath with a Sun Room and Sun-Rooms are not usally not very private and there hot as hell in the summer, so I highly doubt any appraiser will call it a bedroom. As far as value it depends on your market area, in mine 2 bedroom homes often sell for substntially less money because we tend to have larger families around here and only Seniors or people without children will buy them . Also noe we have many people working from home and even 3 bedrooms have less demand than 4 bedrooms. Anyway good luck maybe the Sunroom will add some value

 

[refiman]

Trying to get rid of PMI? Just curious why it's gotta hit that amount.

No, i'm doing renovations and I'm hoping to have it appraised for 250K so I can get 52K cash out. If it comes in lower than that I will have less money for my renovations. To "sell" my sunroom more, I was thinking of putting in a wardrobe closet so there will technically be a closet but again, according to that article, a closet is not mandatory for a room to be considered a bedroom.

 

[refiman]

Its a 2 bedroom 1-Bath with a Sun Room and Sun-Rooms are not usally not very private and there hot as hell in the summer, so I highly doubt any appraiser will call it a bedroom. As far as value it depends on your market area, in mine 2 bedroom homes often sell for substntially less money because we tend to have larger families around here and only Seniors or people without children will buy them . Also noe we have many people working from home and even 3 bedrooms have less demand than 4 bedrooms. Anyway good luck maybe the Sunroom will add some value

Thanks for your input!

 

[DJBanas]

There are other things to consider: is the sun room the same level of finish as the rest of the house? Is it heated and/or air conditioned? Any privacy issues? Some of these questions have to do with if the sun room can even be considered as above ground living area. Once that is determined then the discussion can be about if it's a bedroom or not. Pictures would be nice.

 

[glenn walker]

No, i'm doing renovations and I'm hoping to have it appraised for 250K so I can get 52K cash out. If it comes in lower than that I will have less money for my renovations. To "sell" my sunroom more, I was thinking of putting in a wardrobe closet so there will technically be a closet but again, according to that article, a closet is not mandatory for a room to be considered a bedroom.

Trying to get rid of PMI? Just curious why it's gotta hit that amount.

She needs $52K cash out to remodel -NOT PMI :

 

[Ricky LaFleur]

She needs $52K cash out to remodel -NOT PMI :

I read that.

 

[Terrel L. Shields]

It is not gross living area regardless of function. Sunrooms are not identical in finish and rarely in quality (regardless COST which can be very high) so it is not a bedroom because only gross living area by definition excludes non-GLA spaces from the room count.

 

[glenn walker]

Kinda reminds me I had a lady who had placed a bed and a portable closet in her dining room. She asked me if I was going to call it a bedroom. I smiled and said no its a dining room with a bed in it. O' well hopefully the Sun Room will add some value