How much value does an extra bedroom add?
By Anne Lok, Toronto Modern Real Estate
(Berkshire Hathaway HomeServices Toronto Realty)
How much value does an extra bedroom add? Can you sell for more money with a 3 bedroom by converting a den in a 2 bedroom home into a bedroom? Truthfully, there is no formula for how much the selling price can increase by adding an extra bedroom. Likewise, converting a windowless den into a second bedroom may not be an attribute when it comes time to sell just because you gave it a new purpose and labeled it a different use. Some owners may want to convert a 2 bedroom [or 2 bedrooms with a den] to a 3 bedroom to make it look better on paper upon selling the property. You may get more traffic to attract the segment of buyers who are shopping for a 3 bedroom home, but if it is a compromised space where the third bedroom is too small to utilize as a proper bedroom with sufficient closet sp...
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