Increase in value of home after a 4th bedroom added?(12 Posts)
I was just wondering if anyone could tell me how much (percentage wise) the value of their home increased after adding a 4th bedroom as part of a 2 storey extension project. We are currently seeking planning permission to do this and I'm beginning to start researching costs vs value of home.
It's hard to say, people don't generally just add a bedroom.
We added a fourth bedroom in our last house but we also added an ensuite, kitchen extension, utility, downstairs wc and sitting room. Oh an a garage.
The property was valued at 220k beforehand and we sold it for 325k. The building work and new kitchen/bathroom cost about 80k so it was a profit of about 25k, though we extended in 2004 and sold in 2011.
What else are you adding?
An EA told us it was about 5k per bedroom, but can't see that as being right from the figures above. Although between 2004 and 2011 there was a lot of movement in house prices and valuations.
Our 2 storey extension will add a bed (taking it up to 4), a bath, study, utility and kitchen diner. It is likely to add 50% to value of house. We are in area where everyone is after a 4 bed.
We started off at £380 to £400k for a five bedroom, one bath house with a tiny kitchen, only one loo and we had a bloody awful loft conversion with two small bedrooms in it so only two decent sized bedrooms. We've reconverted the loft into one big bedroom and a small en suite, added a two storey side and rear extension which has another big en suite bedroom, a new bathroom (lost the old one to hallway space) a utility with downstairs loo and a kitchen diner. Estate agent valued at roughly £550k but sort of depends on the final decorative finish (we still have the kitchen to go in). We also have a massive garden so it doesn't feel like we've lost much outdoor space.
Tbh you have to look at comparable a in your area, there is no rule of thumb. Adding a fourth bedroom in a city centre location where the buyers are young professional types will add nothing.
Adding a 4th bed in a detached house in a suburban family area will add more, but how much will depend on house prices in that area, the road etc
We're in a semi in a suburb of London. The extra bedroom and bathrooms are key, as is the v necessary kitchen diner ;). We won't be moving for a good ten years, if ever.
It totally depends on the area, the size of the room you add and if the living space is appropriate for a 4th bedroom. In general the rule of thumb is that a 4 bed house needs to have 2 bathrooms.
Where I live in London, the difference in price is about 15%-20%. However, house prices here are high so that equates to about 150k between a 3 bed one bathroom house and a 4 bed 2 bathroom house.
Thanks for your replies. We will be extending the kitchen to create a large kitchen/diner and the 4th bedroom will have an ensure (it will actually become the master bedroom). The house is a semi but in a desirable, suburban area with good schools and transport links. Essentially we're doing the extension for us and it is not at all about making money.
I disagree that the house needs to be detached for an extension to add value - it completely depends on the area. We're in quite an expenseive area - 3 or 4 bed detached properties are simply too expensive for alot of families. So lots of people buy semis, or even terraced properties, and extend / convert basements / loft conversations (or a combination).
We're in a 1930s semi. 2 storey extension (3m double storey across back of house, adding 2m double storey to width of the house) will cost about �80k + fittings, but will add �100-125k to value of property (so about 25-30%) if its done to quite a high spec. Not necessarily going to add massively to the equity within the house but a) we're not planning on moving and b) we know (as far as you can know with anything to do with property) that we'll get the investment back when we do come to sell.
My view is that a house has to be balanced - so a 3 bed semi adding an extra room in the loft (but keeping the same size on the ground floor) isn't going to add much value, despite the fact it is now a 4 bed. A family wanting a 4 bed want the additional downstairs space too. Speak to local EAs, see what 3 and 4 beds are going for locally and do your sums carefully.
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