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If You Buy A 4 Bedroom House And Change It Back To 3 Bedroom Will It Affect House Value?
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We are weighing up the pros and cons of a house my husband really likes in the view to buying. It was originally a 3 bed and they did a small 2 storey extension which enables more kitchen and dining space downstairs and they changed the upstairs space bar the master bedroom so there is now a total of 4 bedrooms -other than the main there are all unpractically small each with a single bed in and one or two storage units. They have also added an upstairs wc.
we have considered this and i just have my son so we would be very tempted to take a partition wall down and make one nice sized bedroom for him ,which would leave one small spare room.
The house imo seems overpriced and has had no takers since april which is very unusual for the area. If we take it on around this price and then paid to convert back to a 3 bedroom will we lose house value in the long run or do you think it will make house more saleable again when/if we decide to move on. TIA
we have considered this and i just have my son so we would be very tempted to take a partition wall down and make one nice sized bedroom for him ,which would leave one small spare room.
The house imo seems overpriced and has had no takers since april which is very unusual for the area. If we take it on around this price and then paid to convert back to a 3 bedroom will we lose house value in the long run or do you think it will make house more saleable again when/if we decide to move on. TIA
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There is normally a considerable difference in price between a 3 and 4 bedroom house. As you say the conversion which has been done is not attractive for you and is probably the reason for the house not selling.
What you are buying is a 3 bedroom house which is going to cost you a considerable amount of money for your re-conversion.
If it were me,and I was very keen on the house,I would be offering a price considerably below the price of a 3 bedroom house in the area. I would imagine that this figure would be unlikely to tempt the seller.
We are all different of course.
What you are buying is a 3 bedroom house which is going to cost you a considerable amount of money for your re-conversion.
If it were me,and I was very keen on the house,I would be offering a price considerably below the price of a 3 bedroom house in the area. I would imagine that this figure would be unlikely to tempt the seller.
We are all different of course.
Yes, The current owners have probably built the extension to add an extra (albeit tiny) bedroom on to up the price to sell. If you change it back to 3, the price will drop regardless of the square footage or acreage.
Our house has 3 bedrooms and a large loft conversion which was also being used as a bedroom at the time we bought - But, the owners were not legally allowed to advertise it as 4 bedroom as the loft was done by a friend and the necessary paperwork was not present to prove the work complied to building regs. If they had the paperwork and the house had been advertised as 4 bedroomed, they could have added in excess of £10k to the price.
If we were to sell, we would look at getting the 4th bedroom surveyed & approved legally in order to market at a higher value.
Hope this helps
Peas
Our house has 3 bedrooms and a large loft conversion which was also being used as a bedroom at the time we bought - But, the owners were not legally allowed to advertise it as 4 bedroom as the loft was done by a friend and the necessary paperwork was not present to prove the work complied to building regs. If they had the paperwork and the house had been advertised as 4 bedroomed, they could have added in excess of £10k to the price.
If we were to sell, we would look at getting the 4th bedroom surveyed & approved legally in order to market at a higher value.
Hope this helps
Peas
If the house isn't selling at the advertised price in an area where it should be expected to then it says to me it's overpriced - if I were in your position I would offer a considerably lower price (one you would offer for a three bedroomed property) and see what happens. I certainly wouldn't pay for a four bedroomed property if the b/rooms were like cupboards! - it's going to cost you to change it back or you'll be living with the inconvenience of small rooms in a house you've paid too much for. Good luck.
a friend has suggested the same thing that they, extended just to increase value of house.
They have lived in house for 20+years and have 3 childen but they did this change to the house just a few years ago once children were older . they said just a year after they had done it their eldest- 27yr old son moved out.???
each of the 3 childrens bedrooms have just room for a single bed and a small wardrobe and drawers and nothing else. Not a space you can sit and spend time in and my son is used to a double sized bedroom .
It's a shame as it's the only house that has the off road parking we need and a nice sized gararge that my hubby is hankering after...but we are having to think of solutions already so it doesn't feel right. also the kitchen is smaller than what we currently have but it opens out to a diner so we are thinking if we can add cupboard space in any way without spoiling that dining area.
and all for a house that i think is overpriced. :/
They have lived in house for 20+years and have 3 childen but they did this change to the house just a few years ago once children were older . they said just a year after they had done it their eldest- 27yr old son moved out.???
each of the 3 childrens bedrooms have just room for a single bed and a small wardrobe and drawers and nothing else. Not a space you can sit and spend time in and my son is used to a double sized bedroom .
It's a shame as it's the only house that has the off road parking we need and a nice sized gararge that my hubby is hankering after...but we are having to think of solutions already so it doesn't feel right. also the kitchen is smaller than what we currently have but it opens out to a diner so we are thinking if we can add cupboard space in any way without spoiling that dining area.
and all for a house that i think is overpriced. :/
This is a very common trap to fall into, Jen.......... wanting something that you know isn't quite right, and talking yourself into it.
It's a good area, but hasn't sold in a good market. It's overpriced. There's no kinder way of putting it. It's a 3-bedroom house that has been "customised" for their own personal reasons. The actual property market disregards this.
Number of beds is misleading. In a top area, a 2-bed will fetch more than a 3 or even a 4 in a so-so area.
Only you know the locality. Compare with other houses around, and be ruthless with yourself. It's so easy to let your heart rule your head when buying a house.
It's a good area, but hasn't sold in a good market. It's overpriced. There's no kinder way of putting it. It's a 3-bedroom house that has been "customised" for their own personal reasons. The actual property market disregards this.
Number of beds is misleading. In a top area, a 2-bed will fetch more than a 3 or even a 4 in a so-so area.
Only you know the locality. Compare with other houses around, and be ruthless with yourself. It's so easy to let your heart rule your head when buying a house.
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