We converted our four-bedroom house into a three bed, knocking two bedrooms into one in order to have a bigger master bedroom once our children flew the nest. We are now considering downsizing. Is it worth spending money on converting the master bedroom back to a fourth bedroom before selling so we can market it at a higher price as a four-bed rather than three-bed property?
The short answer here is yes. You haven’t given an approximate location for your property, or indeed if the house is detached or semi-detached, however in my local area where three-bed semi-detached houses sell for typically €240,000-€250,000, four-bed semis in the same estate will typically make €280,000-€290,000, a difference of about €40,000.
Obviously a four-bed house is larger than a three bed, having a bigger footprint, so it’s not quite fair to say the extra bedroom is worth €40,000, as the additional ground-floor room sizes are a contributory factor. However, there is no doubt the fourth bedroom does make a significant difference and should well be worth the investment.
Significant barrier to sales is the matter of non-compliance with planning permission and or building regulations
On another not unrelated topic, a significant barrier to sales at present is the matter of non-compliance with planning permission and or building regulations. The most common items cropping up at the last minute relate to attic conversions, front porch installations and, in one particular case, a couple had installed a bay window to a front sitting room, which a purchaser’s architect identified as requiring planning retention.
Such matters can prolong a sale by anything up to six months. My advice is, therefore, if you have carried out any alterations to the property, however insignificant they might seem, have a qualified building surveyor examine the works to ensure compliance with both planning and building regulations. A little outlay on professional fees now can save no end of problems later in the process. - Ed Carey, a chartered residential agency surveyor and member of the Society of Chartered Surveyors Ireland, scsi.ie
