Considering turning a 5 bd into a 4 bed with huge Master?

Question

Hi...  I found an older home that is currently 5 bedrooms however the master is terrible.  I am thinking of joining the master with another smaller bedroom to make a nice big master with walk in closet.  My question is for appraisals...  how much will this take off the value of the house?  Or could it add value because of the master suite?

Mike H. · Answer

You mentioned appraisals. What I can say is that appraisers won't modify the price for bedroom count - at least not on any of the ones I've ever had.  When I first started getting 4 bedroom homes and the appraisals would come in, I'd be livid that they would comp the house against a 3 bedroom house and give me no bump for having an additional bedroom.

But in all the appraisals I've ever had done, they have never given a bump for having more bedrooms - or taken anything off for having one less.

I recently bought a 4 bedroom house that the previous owner had joined two bedrooms into one huge master. But the goofballs didn't do anything with the closet. So I built out a walk in closet. Master bedroom was ridiculously big.

Made the house so much better that way.  I love having those kinds of features that really stand out. Super kitchen, Huge master,etc.

Now if you are flipping and could possibly add a bathroom too, that would be even better. :-)Not so much for a rental. Hard to get those costs back.....

Amanda Williams · Answer

Thanks everyone!  Yes, the area is mostly 3-4 bedroom homes.  Large Master is looking good! :)

Michaela G. · Answer

I think a lot depends on the area. Is the rest of the neighborhood 5 br and are there families with many children there?

In general, I would say that a 4 bedroom with large master and walk-in closet is better than a 5 bedroom

Mindy Jensen · Answer

If you were talking about going from 4 to 3, I wouldn't be so excited about it. But 5 to 4 with a huge master suite makes it MORE appealing to most buyers, in my opinion. Most buyers don't need a 5 bed house.

What does the area look like? Run a quick search of the area with 4 beds vs 5 beds to see where prices are at. It sounds like it would make sense to me.

Ryan Sweeney · Answer

I agree with @Michael Lee that kitchens and bathrooms are the most important factors when it comes to value.  After that it is typically the flooring and master bedroom.  In my experience, there is a significant value add from 2 bed to 3, moderate value add from 3 to 4 but 4 to 5 is usually minimal.  Depending on the cost to convert the 5th bedroom to a larger master, that is probably the way to go.

Michael Lee · Answer

Hello, Amanda

I think a nice master suite would add value, homeowners today always look at the kitchen and bathrooms when it comes to homes but the master suite isn't too far behind so having one could only be a benefit in helping it sell quicker I think