If you are looking at homes and can afford an extra bedroom, you may be wondering if it makes sense. Let’s look at the pros and cons…
If you are looking at homes and can afford an extra bedroom, you may be wondering if it makes sense. It’s a tough decision to make, especially when balancing other factors such as location, price and the other features of the home. Let’s look at some of the pros and cons!
A Pleasant Surprise
While this situation does not apply to everyone, it is something I should mention. Imagine if you find out that you will soon have a new unexpected child. So will the new bundle of joy mean that you don’t have enough room?
Or maybe someone in your family needs a place to stay. It is nice to have the extra bedroom. A growing trend is several generations living under one roof. Has the thought of your empty nest becoming overcrowded ever crossed your mind?
Or maybe you have an older family member or friend that needs to live with you for a while. It is nice to be able to say yes without hesitation!
I could go on and on about the different situations that make having an extra bedroom a positive feature. Even if it’s just having guests over the weekend it is nice to have that extra bedroom!
Working at Home
I have to admit that I rarely go to my real estate office. I can work from home or the road just as easily. However, working from home is not the right choice for everyone.
The only downside is it is hard to ignore some of the distractions or interruptions. Which is why having an office can be worth its weight in gold. A home office can be a great way to use that spare bedroom.
Become a Landlord
Another option that might not be for everyone but I have to mention is renting that spare room out. It could be a great way to make some extra money. As long as you don’t mind the responsibility of being a landlord, you could rent out the room to a tenant and let their rent help you cover the mortgage payment.
Just make sure to REALLY screen your tenants!
When my wife and I bought our home, we went from a tiny house to almost triple the space. Which included 2 more bedrooms. We thought we were crazy buying so much house. After all, we didn’t even have furniture for all that extra space!
But here we are several years later and I have to admit that having extra bedrooms has been a blessing. I think of it as secure climate controlled storage sometimes. Plenty of space for packing away all the Christmas stuff without worrying about the heat melting some of our precious keepsakes.
When It Is Time to Sell
All of the positive benefits I mentioned will help you in 2 ways when it comes time to sell. Buyers are going to like that extra bedroom so it will make your house more attractive. Plus, having more space can help to boost your home’s value!
Well some of the same reasons that are positives can also be negatives. Such as family and friends knowing you have that extra room if they need a place to crash! Or you will have friends/family asking your to “store” some furniture for them. I just wonder how many years must pass before that furniture is considered to be yours?
Obviously that extra room is going to need heating and cooling. Plus a larger home that has a higher value will mean higher taxes, insurance, etc.
More bedrooms are nice but NOT if the bedrooms are super tiny. Always keep this in mind and measure rooms to ensure they are large enough for you!
However, I think you can see that the positives outweigh the negatives in most cases. What do you think?