Can you place an average value on a bedroom?

[Anonymous]

Obviously there are a lot of variables, but in general is there any amount you can apply to the value of a house based on an additional bedroom? This would be a below grade bedroom off of a finished basement (North Arlington). It would take the house from 3 to 4 bedrooms.

Thanks.

[Anonymous]

I don't know. But lots of families find 4BR highly desirable, and would limit their searches that way (2 kids + guest room or home office).

[Anonymous]

Depending on your neighborhood, yes.

You can do an amateur comparative market analysis that will give you a ballpark. Look at properties on the market now in your neighborhood with the square footage, condition, etc. Now find other similar properties that just have a 4 br.

You'll have to account for differences like pool, deck, street, etc. But there has been so much movement this season you should be able to find houses fairly similar to your own.

[Anonymous]

Just know that a below-grade bedroom won't be counted as having any value at all in the appraisal. Below grade bathroom, either.

[Anonymous]

Anonymous wrote:Just know that a below-grade bedroom won't be counted as having any value at all in the appraisal. Below grade bathroom, either.

??

This is not my experience. I have a below grade, up to code bedroom and it counted in my appraisal. Where are you getting this info? Do you know what you are talking about???

[Anonymous]

Anonymous wrote:

Anonymous wrote:Just know that a below-grade bedroom won't be counted as having any value at all in the appraisal. Below grade bathroom, either.

??

This is not my experience. I have a below grade, up to code bedroom and it counted in my appraisal. Where are you getting this info? Do you know what you are talking about???

1) Uniform Appraisal Dataset. Read more http://birminghamappraisalblog.com/appraisal/hey-why-didnt-the-appraiser-include-my-basement-in-this-appraisal/

2) HUD: http://www.hud.gov/offices/adm/hudclips/handbooks/hsgh/4150.2/41502c3HSGH.pdf

BASEMENT BEDROOMS, BASEMENT APARTMENTS
As a rule basement space does not count as habitable space.
If the bedroom does not have proper light and ventilation,
the room can not be included in the gross living area. The
following requirements apply to the valuation of below-grade rooms:

o The windowsill may not be higher than 44 inches from
the floor.
o The windowsill must have a net clear opening (width x
height) of at least 24 inches by 36 inches.
o The window should be at ground level; however,
compensating factors may allow less.
In all cases, use reasonable care and judgment. If these
standards are not substantially met, the basement area
cannot be counted as habitable space.

[Anonymous]

If the basement thing doesn't work out, OP, please don't try to get your extra bedroom by splitting one upstairs room into two and tacking on a cheesy closet in the new "second bedroom." That seems to be a common stunt around DC and it's a total dealbreaker. It just means more work and money for the buyer to then undo the whole darn thing and restore the normal sized bedroom.

Why has this gimmick become so popular? Is it a flipper thing or do normal homeowners do this too? Surely no one falls for it or thinks a tiny study with a tacked-on closet was ever intended to be a bedroom.

[Anonymous]

OP here. This would be a legal space, with proper lighting, ventilation, a closet, and an egress window, fwiw.

[Anonymous]

I can't give you a dollar figure, but I can tell you that it should definitely add value to your house. Especially if there's also bathroom and a a rec room down there that could theoretically have a kitchenette - there are plenty of people looking for in-law or au pair suites. (or the potential for one.) I think 3 bedrooms up and one in the basement is great - you can put guests away from the family mess and noise, or have a nice study down there. (or do what I did in my previous house and rent it out.)