Nmdoc, Home Owner in Colorado Springs, CO

Is it worth applying for a variance for a bedroom window well on a basement refinish to get from a 4 bdrm to 5 bdrm? Is that a higher market?

Asked by Nmdoc, Colorado Springs, CO Fri Jul 12, 2013

I am currently refinishing the basement and will add 2 bedrooms. One bedroom already has an egress - the other bdrm only has a 30" depth window well so I am planning on applying for a variance to get this considered a legal bdrm. Is the market different between 4 and 5 bedroom houses?

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As a real estate professional I do not think it will add or detract value if your home can be marketed as a 4 or 5 bedroom home.
My expertise is in marketing homes. Some buyers will value 5 bedrooms more than 4 bedrooms and some buyers would rather have 4 bedrooms and an office.
What is a legal bedroom? Who enforces and watches for "legal bedrooms"?
If you were marketing a home that had 5 really small bedrooms will that be worth more than 4 larger rooms? The answer is it depends on the buyer.
If your home had less than three bedrooms it would have a smaller marketing audience.
If your goal is to have the greatest marketing appeal then the answer is, "It depends on the buyer."
I would not jump through a bunch of extra hoops.
1 vote Thank Flag Link Fri Jul 12, 2013
If it were me, I would create the egress if it is 10x10 or bigger, or just call it an office if it's smaller.
1 vote Thank Flag Link Fri Jul 12, 2013
I would take a look at the for sale comps in your area. It totally depends on the neighborhood. In some cases a 5th bedroom would be "too much house"and it would not pay for the investment. Look at it like you would a remodel for any other room in the house. You don't want to over do it. Square footage in the basement is sometimes counted at a different cost per sq. ft. in value as well and are you going to flip this house or live in it?
0 votes Thank Flag Link Mon Jul 15, 2013
The fifth bedroom probably will not add that much added value. I do not think that Regoinal will give you a variance for that. I am sure they will require you to put in an egress window well.
0 votes Thank Flag Link Sat Jul 13, 2013
It is better to have a 5 bedroom

0 votes Thank Flag Link Fri Jul 12, 2013
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