Homes with a Bedroom Suite Sell 25% Faster and for 5% More than those without.
Waking up and strolling over to a bathroom without entering an open hallway or main living area in your home is a big deal. A bathroom directly connected to a bedroom, an en suite, French for following or after, is a desired convenience that causes homes to sell for more, a lot more. Perhaps you’re considering adding a suite to your home to increase home value or you’re contemplating the future resale value of a home you want to buy. Either way, let’s find out exactly how more homes with bathroom suites sell for than those that do not have them.
To figure this out I’m looking at a select number of homes that fit within what I’d consider to be a full size home in Portland.
The homes I’m using to compile this report have at least three bedrooms and two bathrooms on a lot size of 10,000 sq. ft. (.22 acre) or less. They have a two car or better garage. They also do not exceed 3,000 sq. ft. in size. This criteria helps cut out extreme example sets.
In Portland, Oregon in the first six month of 2022, 933 homes sold that match the above filtered criteria.
612 of the sold homes did not have a bedroom suite and 321 of the sold homes did.
|Portland, Oregon 01/01 to 6/30/22||933 Matching Criteria||Time on Market||Sold Price Per Sq. Ft.|
|Homes Sold without a Suite||612||20 Days to Sell||$322|
|Homes Sold with a Suite||321||15 Days to Sell||$339|
|Homes Sold with a Suite||Sold 25% Faster||Sold for 5% More per Sq. Ft.|
Quick History of Bedrooms with en Suite Bathrooms
The popular construction of homes with owner’s suites began in the 1980’s, though typically the attached bathrooms were small. The size of the bathroom suites increased dramatically in the 90’s and hasn’t stopped increasing in size in modern times. The ratio of bathrooms to bedrooms has also increased over time with many new construction homes in the last decade having more bathrooms then bedrooms. (Think of a three bedroom home with a suite, hall bath, guest bath (already up to three), and perhaps additional spare downstairs or family room bathroom.)
Will Adding an en Suite Bath Increase My Home Value?
Certainly according to the report above it will increase your home value. Let’s say for example your current home is 2,500 sq. ft. without a suite. According to the report above it would sell for $805,000, but if it has a suite, it would sell faster and for $847,000, an increase of $42,000. Now, it won’t sell for a hundred thousand more on average, so the remodel has to stay within a reasonable budget.
Professional Real Estate Market Advice Before Selling
If you’re thinking of selling in the next twelve months, my team would love to schedule a time to tour your home and advise on repairs or remodeling in preparation for market. My small team of top 1% sellers agents charge a reasonable commission rate, provide increased marketing, and back up their service with a cancel anytime policy. Give us a call today or chat with the bot on our site.July 27, 2022