Will adding a third BR in a portion of a finished basement add value to the home?

Question

I feel adding a 3rd BR will make my home more attractive to potential buyers with kids. I could add it on the first floor of my single level home by taking some square footage from my front room and master bedroom but obviously that will decrease the size of both those rooms as well. Need to decide which way to go, if any. Looking for helpful opinions. Thanks

Answer 1

Anything that could potentially be called a bedroom will add value, but it actually has to be a legitimate bedroom. Some factors are heat, size, doors, access, windows etc. A basement room w/out windows might not add value, but ultimately appraisers differ in their appraisals. A bedroom can add from 5-15K to the value of your home.

Answer 2

As an appraiser; here is some advice. The total square footage does not include the basement area. Since, your basement is already finished; in my opinion it does not add significant value because the basement is valued as either finished or not. However, since you only have two bedrooms a third would be helpful. If you could add it on a main living area then it would be beneficial. Adding a bedroom to the basement could help but most people would not want a bedroom for a small child in the basement.

Answer 3

Depends on where you live. Talk to a real estate agent. My boyfriends from Georgia. And there the basement isn't counted in the square footage of the house and adds nothing to the value.

Answer 4

I think it depends on the building codes where you live. I think in some places, below-ground square footage is counted if it's finished, but it's not in other places. Also, if you are going to make a bedroom down there, you probably need to have a window in the room that is big enough to climb through. I believe that's code in most areas.

Answer 5

I am a Realtor in Ohio. Three bedroom homes are more desireable than 2 bedroom homes. However, I would suggest making the room in the basement only if your basement is very dry.

Answer 6

having been in real estate trades in different parts of country , the correct answer depends on your location. in general, a bedroom in the basement only returns 20% or less of costs and if done wrong could cost you more. you need to check recent sale of equal properties in area and find houses with basement bedrooms to compare to 2 bedroom houses.
see if there is a real difference in sale price vs costs of doing it right.
go with real knowledge.
check local municipality to see if you can even put one down there.