Nicola Kelland - Bedrooms

I often hear purchasers comment on how many bedrooms a property has when determining its value. Comments like “but it is only 2 bedrooms so it must be cheaper”. Certainly, there are a number of factors that influence the value of a property. Location, land size, house size, desirability and quality of the home are all determining factors. So where does the number of bedrooms fit with this?

Obviously if the home is bigger because it has more bedrooms then it is clearly worth more, but in a number of cases recently this isn’t the case. Some large homes built to the owner’s specific needs may only have two or three bedrooms but they have large living spaces and garaging. If you are valuing the property on a square metre basis, there should be no difference in the value of a 2 or 3-bedroom property as there would be if it had 5 bedrooms. But often there is. Desirability is a large part of determining the market value of a property. If a property is desirable to a large number of purchasers, then the market value will be higher. Having more bedrooms does increase the number of purchasers looking at your home as it widens the appeal to include purchasers that have small families, teenage families and purchasers wanting to accommodate extended family. Investors also factor in the number of bedrooms when purchasing, as more bedrooms often increases the rental that can be achieved.

It might be smart to buy an existing home that could either be easily converted or extended, to accommodate more bedrooms to add more value to the property.