What are the pros and cons of buying a home with a few extra spare bedrooms?
House-buyers will have to toy with many questions when looking for a new home. They’ll have to weigh up whether they want a property in the suburbs or in the country, a building that’s old or new, and even whether they require a garden or a driveway. However, arguably the most pressing feature that they’ll have to decide on is how many bedrooms they want. It’s important not to confuse the terms ‘want’ and ‘need’.
– The Property Blog says, – Especially for couples or small families who are first entering the property market. After all, a house is a long-term investment and a successful purchase requires some insight into the future. With this in mind, here are the pros and cons of buying a house with spare bedrooms:
What are the pros of having a few extra rooms with your new abode?
You should find that a house with three bedrooms will generally cost more than a property with two. This means that you should find it would fetch more money if you were ever to put it back on the market. In addition, larger properties are more likely to attract interest from buyers as they’ll appeal to families of all sizes!
There’s no telling when a spare bedroom might just come in handy. The most obvious use for space would be if your family was to expand. However, additional bedrooms can be used to bring in money if you were to advertise it as a guest room and accept lodgers. After all, if you were ever to fall on hard times the room could be a nice source of income until you get back on your feet.
Don’t forget, a spare room does not stand for a resting place in each and all occasions. In fact, it can be anything you want it to be. It just takes a touch of creativity to turn the empty space into something of great use such as a gym or an office.
Homeowners often enjoy entertaining guests in their fancy new house – especially in the first few months. In such circumstances, you’ll generally find a lot of pride in directing visitors to a guest bedroom rather than ordering them a taxi or setting them up on the sofa at the end of a night.
In most cases, the entire floor plan of a house will be laid out evenly to accommodate the rooms upstairs. Therefore, you’ll typically find that areas such as the living room, kitchen and dining room are bigger in houses that boast more bedrooms. House-buyers should, therefore, consider their overall need for space when making a decision about how many bedrooms they would like.
What are the cons of having a few extra rooms with your new abode?
Even though you may have grand designs of turning your spare bedroom into a guest room, an office or even a gym, it’s easy to fall into the trap of leaving it empty. It can easily become a so-called ‘box room’ and mainly serve as a means of unorganised storage, often resulting in clutter. This can look unsightly and go against the original vision you had for your home.
The process of saving a deposit, arranging a survey and paying stamp duty can leave homeowners strapped for cash in those first few months after moving in. A spare bedroom can, therefore, become a financial burden rather than a benefit. The room could require painting, decoration and maintenance, not to mention the wide range of furnishing a complete interior will require – it all of which come at a price.
3. Time and effort
Even if money is not a problem, a spare room will require you to put in time and effort – both in the short and long-term. For instance, the room will require regular cleaning even if it goes unused for many years.
Yes, the cost of a multi-bedroom house could fetch more money if you were ever to put it back on the market. However, you will probably have to pay more for it at the point of purchase than you would for a house with fewer bedrooms. Those looking to buy a new house – especially first-time buyers – might find that it’s more financially sound to purchase a house with fewer bedrooms because it will allow them the opportunity to the cut cost of what is a major purchase.
5. That cosy feel
The thought of purchasing a spacious house might be appealing to those buyers who consider bigger to be better. However, it’s sometimes true that less in more. Homes with fewer bedrooms usually boast a cosy feel and feel more intimate. The size of a house determines its overall temperature, so unless you’re prepared to turn the heating on, you might just find that homes with spare bedrooms tend to get chillier from time to time.
The choice is up to you!
It’s clear that there are both pros and cons to purchasing a house with more rooms than you currently need. It’s important that you consider these factors sooner rather than later because it will help you move one step closer to buying your dream home.
July 19, 2017