Does my house count as two or three bedroom?

notanewuser

moneyistooshorttomention wrote: »

Thanks for replies to date.

Part of the versatility of the house is the 2 reception rooms could easily be knocked through into a "through lounge" if anyone wanted to.

I'm just trying to weigh up pros and cons of the house as objectively as I can and I know that the "down" side is its "reasonably well-maintained" (rather than "immaculate") on the one hand. Hence the looking for the "plus" side as to how it's a lot more versatile than many houses in this area on the other hand.

I'm looking for the plus points - to help with the minus points - and come to a "balance" that tells me exactly what the house is worth.

Having had an ENORMOUS amount of work left to me by the previous owners of this house - and done/paid for a heck of a lot of it myself (and..boy...was that a struggle and a half on my income)- then I think that's quite a rational viewpoint to take. That is - I can see what still needs to be done (as in I couldnt cope with the HUGE amount of work left needing doing by previous owners - but I did a lot of it) versus the versatility.

I chose this house in the first place on the grounds of:
- good location
- I knew/know more people in this area than any other terrace house area in my location and (with that) believed the area wouldn't be allowed to deteriorate
- correct layout
- versatile

whilst having to ignore that it was A Wreck that I was having to pay "standard rate" for (because it was a sellers market at the time).

I think I've done pretty well to take it from A Wreck to "reasonably well-maintained" in the circumstances:rotfl::rotfl:

None of this will matter or apply to a buyer though. It is now a buyer's market, and it is a house which will need some reasonably significant work, plus possibly adaptations to make it work for a new buyer.

You need to look t it without your history, because nobody else is going to pay you for that.

What figures are we looking at? What is a 2 bed usually worth in your area?

Davesnave

moneyistooshorttomention wrote: »

I'm looking for the plus points - to help with the minus points - and come to a "balance" that tells me exactly what the house is worth.

Don't worry, your buyers will do that for you.

What you should realise is that such accurate calculation isn't feasible. You can look at sold prices for similar properties nearby and make an estimate, but a whole load of other factors will come into the equation.

Just one of these is what the market is doing where you are. When I sold in a dismal market in 2008. I had to accept that the large amount I'd spent adding an extra downstairs room counted for much less than it would have done in the dizzy days of 2006. Fair enough, I'd had good use from it.

Oh, and I didn't call it a bedroom, though that happens to be how it's used now. Some people really are quite bright and work out each room's potential if they view a property, or even before. Others, less clever, might take slight exception to a room being called a bedroom, if it's not where they expect to find it.

SingleSue

2 bedroom, 2 reception house to me, to describe it as anything else would confuzzle me as a buyer as I would be sitting here going "Erm, surely that is a dining room and not a bedroom?"

Fire_Fox

moneyistooshorttomention wrote: »

Part of the versatility of the house is the 2 reception rooms could easily be knocked through into a "through lounge" if anyone wanted to.

I'm just trying to weigh up pros and cons of the house as objectively as I can and I know that the "down" side is its "reasonably well-maintained" (rather than "immaculate") on the one hand. Hence the looking for the "plus" side as to how it's a lot more versatile than many houses in this area on the other hand.

I'm looking for the plus points - to help with the minus points - and come to a "balance" that tells me exactly what the house is worth.

A house is worth what a buyer is willing and able to pay it's not an exact science. All you can do is look at land registry sold prices for the street and area over the last eighteen months and make an educated guess. The fact that a buyer can spend money on knocking through is not a plus point, it's a plus point if the room is already knocked through OR closed off depending on their preference. Work that needs doing does not add value, quite the reverse.

Versatility is more likely to attract greater numbers of potential buyers, which could lead to a quicker sale in a stagnant market but will not command a higher price unless you are very lucky and get into a bidding war.

Curlywurli

I can't see how a dining room can be a bedroom.

When we put our house on the market it will go on at whatever the estate agent says it goes on at. We have spent lots of money and time doing it up but that doesn't matter to whoever buys it. They would be concerned if we were selling it at the state we bought it in but now it's a typical house. We can't charge a premium because of the work that we did.

CrazyAngel_3

Definately market it as a 2 bedroom - that is what is is. It drives me mad when I see a house I like and find that the 3rd or fourth bedrrom is downstairs/is a converted garage, etc. Just dont do it. It comes across as deceiving.

I have a three bedroom house with 2 reception rooms. I would never in a million years market it as a four bed. There is no extra value to be gained by trying to mislead potential buyers.

You will be wasting your time, the estate agents time, and the viewers time. If you market it is a three bed you will then be posting here that you have had loads of viewers but none are offering and you dont know why - and the answer will be because they want a three bed, not a two.

Instead, make sure the agent does a floorplan when it goes on rightmove, then they can see that they have a useful 2nd reception room.

Just because you have used a room as a bedroom in the past, doesnt mean it is one.

gfplux

Sounds exactly like a three bedroom house. If I want to use one or more of the bedrooms as a study, playroom, workroom or a dining room that's up to me.

paul1964_2

Why don't you market is as a one bedroom house with 2 dining rooms?

It might appeal to the foodies out there.

katejo

It sounds as though it is a similar house to mine though i have a through living/dining area (originally separate rooms). Much better to say 2 bedrooms and 2 living rooms.
When I was selling my previous 1 bedroom flat, the flat opposite was also on the market. the owners tried to sell it as a 2 bedroom flat by turning the living room into a bedroom. They had put a sofa on the kitchen lino floor and had called the room a kitchen/living room. It looked silly and anyone viewing it could see this immediately.

becominganobsessivesaver

In your other thread you mention having bought the house in the eighties. In that time most houses would have had one or two boilers, been painted a few times, had a new kitchen, bathroom, flooring. Before you start to market your home you need to get out of the mindset that any work was improvement, instead it was making your house your home. The chances of a buyer walking through the door and loving the decor etc as much as you do is slim to none. Essentially your house will sell for a couple of grand more or less than what the last 2 bed on your street sold for.
Our house sold for the midpoint of the highest and lowest sales prices (same house type) had sold for in the last 2 years. We had added a new boiler and bathroom and decorated throughout within the last 2 years (to make a home), this made the house more saleable but thats it!
There were 2 houses like the one we're buying for sale one at 15k more than the other. We went for the more expensive one as we are (hopefully) going to stay put. The southwest facing garden beat the northeast facing one, and the decor, fittings etc were slightly better. We wouldn't have paid more than the asking price of the cheaper one though!