Home Selling in Parker>Question Details

Kimmcgowan, Home Seller in Parker, CO

My husband and I currently live in a four bedroom 2 and a half bath home in a suburb of Denver. The original floor plan allowed for either a fourth

Asked by Kimmcgowan, Parker, CO Sun Mar 21, 2010

bedroom or a loft. We bought it from the previous owners with the four bedrooms. We are cosidering converting the fourth bedroom into a loft. How will this effect our resale value?
I think having the loft will give the main room an open airy and modern feel, accentuating the high ceilings. my husband feels that to take away a fourth bedroom is a mistake.
We apprecite your help, Thank you,
The McGowans

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Answers

5
Kimm-
The 4th bedroom has value to an appraider and will limit your "Buyer Pool" when the time comes to sell if you are only offering a 3 bedroom. If it would improve your home for your family, then make the conversion, but it will not "improve" thavlue of your home and may actually decrease it...
Take a family vacation with the money you might spend on it!

Kimberly Ryan
http://www.SwanRealtor Group.com
303-523-8333
0 votes Thank Flag Link Tue Dec 21, 2010
The newer home designs are more open. Part of your eventual marketing plan when you sell the house is to say 'loft can be converted to a fourth bedroom'. Our buyers always comment about the openness......
0 votes Thank Flag Link Mon Dec 20, 2010
I agree. First and foremost do what is best for your family. Then consider resale factors. The fourth bedroom is probably a slight advantage for resale, but it really depends on the buyer and what they like and need.

Marianne Bandy
The Bandy Team
RE/MAX Professionals - Denver, CO
"From Our Heart to Your Home"

303-746-7799 cell
http://www.BandyHomes.com
Web Reference: http://www.BandyHomes.com
0 votes Thank Flag Link Mon Mar 22, 2010
Kim-
The first question to ask is will it make your home more functional for your family? How long do you plan to reside in this home? Big projects make more sense financially if you plan to stay 5-7 years. If you are going to stay, If it works better for you then enjoy the new look for a number of years and re-evluate then. From an appraisal standpoint, there is value to that 4th bedroom and if all of the comparables have a 4th then you will get "dinged" for having fewer....then put the wall back in...
I hope this info helps!
Kimberly Ryan
Keller Williams Realty Ssuccess
303-523-8333
http://www.SwanRealtorGroup.com
0 votes Thank Flag Link Mon Mar 22, 2010
There are many factors not mentioned that would influence my answer, such as... In your neighborhood what is the average number of bedrooms? Do you have any bedrooms in the basement. Is the basement finished? Walkout etc. When will you be moving? If it isn't for a while do what you want to enjoy the house to the fullest. I would not recommend do this if you were going to be moving in less than 2 years. Please contact me if you would like to continue the discussion... Bill Leeper, Broker with Keller Williams 720-480-6505
0 votes Thank Flag Link Sun Mar 21, 2010
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