House price difference 3/4 bed

[NoTeaForMe]

What should the price difference be between two similar houses, same area etc. One a 3 bed and one a 4 bed?
If the 4 bed sold for 635 what would you say the 3 bed would be on at? Thanks.

How can anyone possibly say without knowing the location, plot sizes, finish of the house etc. Link?

Generally here there is a massive difference between the price of 3 and 4 bed homes where I live think £100000 for same area but 1 extra bedroom. (There isn't the same jump between 2 and 3 or 4 and 5).

In our area, I'd say a 4 bed is normally 20% more than the 3 bed if they're similar houses. As a pp said, layout plot size and finish make the biggest difference. So it depends if what you're looking at really is similar or not.

With your example, if they really were similar... maybe the 3 bed would be £500-530k

Too many variables to say.

It's not just the bedrooms, but the rest of the space.

You could have a 3 and 4 bed that are the same size, with 4 small bedrooms or 3 bigger ones and it depends if people need more bedrooms which is most attractive.

Or the 3 bed could be substantially smaller than the 4 bed and have fewer reception rooms too and/or be on a smaller plot.

Depending on the above, the 3 bed could be anything between £400 and £600k.

It also depends on how readily available 4 beds are in an area.

Where SIL lives the gap between 3 and 4 is relatively small as there are loads of 4 beds. Mostly ex 3 beds that have been converted so have living space accordingly.

Round here there are very, very few 4 beds and the ones that are have been build as such so have much more living space. Therefore the price jump is considerably bigger.

Finish of the house is around the same. Both tired and in need of work. Nothing structural but new kitchens and carpets etc. One has been rented out long term and one has an elderly lady in it. Similar sized gardens but the 4 bed also has an extra living room which is a good size. Alll rooms in the 4 bed are slightly bigger than the 3 but not really significantly. But because of the extra living space the downstairs is also bigger than the 3 bed.
There’s £10k difference and I feel the 3 bed should be cheaper?

So put in an offer under asking price. It's only worth what someone will pay for it.

Unless there are other obvious advantages to the smaller house - a bigger, sunnier garden, say or on a quieter, leafier street, or inside the catchment for a much better school, I would say the 3 bed should be cheaper. Many fourth bedrooms are merely glorified boxrooms, too, so that should be taken into account.

Put an offer in of what it's worth to you and see what happens. Good luck!

There’s £10k difference and I feel the 3 bed should be cheaper?

Possibly they’re chancing their arm a bit, especially if it’s just gone on the market. Or maybe they’re pricing to match other three-beds that don’t need the same work. I’ve just seen a two-bed near me listed at around the average price for a two-bed in this area - but it needs £30k of work to be worth that. They’re delusional.

If the owner of the four-bed is elderly, is there a chance the property might need rewiring if it hasn’t been touched in some time?

I think it really varies according to what is available.

here, when we bought (which is 10 years ago now) there was a clear jump up between 3 and 4 bed. We were surprised to see that tiny 4 beds and large 4 beds were similar prices, with a clear gap to 3 bed. So a large 3 bed was still significantly cheaper than a small 4 bed. I was surprised, but i think there is apremium on that extra bedroom

It worked to our advantage as we bought a 4 bed with massive rooms and a huge garden, for very little extra.

Compare it to other similarly sized three beds in the same area, same parking etc.

In my area the differ between a 3 and 4 bed is around 50k

If they are basically the same apart from size then work out the price per square metre of the 4 bed and then apply that price to the 3 bed.

Go by Internal area (and garden) rather Than bedrooms... the price per square ft of the bigger place should be marginally less than the price per sq ft of the smaller

I find it hard to believe that the houses are identical other than the 4th bedroom. In some areas though adding an additional bedroom can double the property price. See here. Obviously that's going to be the upper limit and will depend massively on how many 3 and 4 beds are available in the area. Iften a 4th bedroom does significantly increase the price though because in many areas they're much more rare.

When you go from 3 to 4 beds you often find an extra bathroom, perhaps extra sitting room, bigger kitchen and bigger garden.

In comparison, in my road:

3 bed gives you 1 bathroom, single garage, 1 sitting room, usually semi-detached.

4 bed - large garden, double garage, 2 bathrooms, 2 sitting rooms.

There’s about £50-£100,000 difference between the two. 3 beds are usually in higher demand and sell far quicker.