How much extra would you pay?

[Moneycannotbuylove]

Two almost identical house but one is a 4 bed room house and the other a 3 bedroom house. The one with the 4 bedroom had a double extension built in the 1970s. The 3 bedroom one has a single storey extension.

How much extra would you normally expect to pay for an extra bedroom 3 vs 4 bedrooms?

It depends in the country but year ago someone told me a bedroom can be a £20-30k extra

Depends on the area not the country

I am in England, North East London.

Are they in the same area? Depending on the supply of 4 beds, size, state of decoration etc, garden size and price of 3 beds, it could be hundreds of thousands, eg 3 bed £600k, 4 bed £900k (numbers picked out of the air, but you say London).

All you can do is look at comparable sold prices and talk to estate agents.

They are next to each other. The difference in asking price is £40k. I am not sure whether the 3 bed is overpriced. It is hard to figure it out.

Where I am in SE, an extra bedroom is worth about £40k (or it was in 2017 when I added an extra bedroom).

It depends on the size of the bedroom.

NELondon the equivalent of buying a small country!!

I assume you're selling the 3bdrm & are concerned you're on the market at too low a price?

Have you posted about this before, the question seems familiar.

But if there's £40k in price difference and that's a small percentage, then you'd go for the 4 bed, assuming you can afford it.

In my part of outer London a 3 bed is around 425k. If a fourth bedroom has been added they’re usually around 465-500k depending on where the bedroom has been added. (Loft conversion is the lower end, first floor extension the upper)

Thank you. I appreciate your replies.

Someone may have asked that question before.

Work out the price per square foot for each property (divide the asking price by the square footage). That is more relevant than the number of bedrooms and will give you a clear comparison point as long as the gardens are roughly even in size.

Thank you Motherofdragon. That is incredibly helpful.