When renovating a house to increase its value, you have to ask yourself one question: Which upgrades maximize the value of a home and by how much? People often go with kitchen redecoration, pool installation, or an extra bedroom. The bottom line is – nobody wants to spend big bucks on a renovation that won’t lead to profit in the end. Well, if you’re thinking about that extra bedroom, you’ve come to the right place. We’re here to talk about how much value does an extra bedroom add to a house. So, keep reading to get all the answers you need!
How Much Value Does An Extra Bedroom Add To A House?
Before deciding what to do with a house to increase its value, you’ll have to do proper research. Think about what home repairs you should be saving up for and how they will affect your final asking price because not all repairs bring the same profit. Let’s find out how much value an extra bedroom adds to a house.
According to real estate experts, adding a new bedroom to a house can increase the home’s entire value by up to 15%. This is a major number that can have a significant impact on the final asking price. The property value might increase by as much as $30,000 to $50,000 for each additional bedroom added to the house. Not bad, right?
How Much Does It Cost To Add An Extra Bedroom?
Another big question when it comes to adding an extra bedroom to a house is how much this renovation will cost. So, let’s talk some more numbers!
The average cost of adding a bedroom is $100 to $155 per square foot or $10,300 to $24,900 in total. If you want to build it on the side of the home, a smaller 12×12 bedroom (144 sq ft) with a foundation and roof will cost between $12,400 and $22,300.
The cost will vary depending on the number of installed outlets, flooring, the style and amount of lightning, the size of the closet, type and number of doors and windows, etc.
Think About Additional Costs
Renovation always comes with some additional costs you didn’t count on. Here are some things you should consider:
- If you think big and want to add a master bedroom to a house, the costs will be much higher. A 464-square-foot master bedroom suite with a master bathroom can cost anywhere from $59,400 to $96,500. It includes a 289-square-foot bedroom, a 50-square-foot closet, and a 125-square-foot bathroom. A luxurious master bedroom with a spa-like bathroom costs at least $100,000.
- This kind of renovation will probably require additional permits or licenses from the local government and possibly Homeowners Association. This is an important step that will definitely cost you some more time and money. However, you can’t skip it if you want to do everything legally.
- Building an extra bedroom means you’ll have to buy new stuff to fill it with. The only problem is where to put it before the renovation is done. Well, there is a solution. You can always contact a local moving company and rent a storage unit for all that new stuff. Of course, this is one more additional cost, but it’s worth it. Reliable crews can transport all of your belongings, which will be safe and sound. So, find the best possible solution when it comes to choosing movers and start decorating your new bedroom!
Therefore, before you ask how much value does an extra bedroom add to a house, you should think about how much this project will cost you.
The Reasoning Behind Adding Another Bedroom
Many people believe that simply adding a bedroom will increase the value of their home. This is not always true. It depends on what type of house you want to add the extra bedroom. For example, adding one more bedroom to a three-bedroom house with only one bathroom is a terrible idea. Additionally, if you don’t have enough space in the home, you should consider some other type of renovation. On the other hand, if you have a big house with unused space and enough bathrooms, you should definitely consider adding one more bedroom.
Furthermore, think about the neighborhood. Look at the other houses and the number of bedrooms they have. If it’s a neighborhood with big family houses, then adding an extra bedroom will definitely increase the value of your home and vice versa. Additionally, don’t forget about potential buyers and what they want and look for in a house. Maybe they don’t want an additional bedroom but a modern kitchen or a home office. Sometimes, you won’t even need to spend a lot of money to please the buyers. You can always go for some DIY solutions to increase the value of a house.
Consider Alternatives
Sometimes adding a bedroom inside your house isn’t enough for maximizing its value. However, you can be creative and put that extra bedroom in your backyard. That’s right; we’re talking about a bonus unit. The bonus unit is practically a bigger bedroom with a bath and sometimes a small kitchen. You can turn it into a private guest bedroom or (she)shed. More often than not, this kind of extra property in your backyard will add more value to the house than a simple bedroom.
Final Verdict on How Much Value Does An Extra Bedroom Add To A House
The answer to the question of how much value does an extra bedroom add to a house is not that simple. It depends on many factors such as which neighborhood you live in, how much space your home has, who are the potential buyers and what your budget is. More often than not, adding an extra bedroom is an investment you’ll thank yourself for in the years to come. However, sometimes this may not be the right choice, and you’ll have to consider other ways to increase the value of your house. So, it’s a good idea to contact a real estate agent for some professional advice about your situation. Do thorough research and make smart decisions!
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