There are a myriad of styles and sizes of single-family homes for sale. In fact, just classifying the styles practically requires a home historian to categorize: colonial, tudor, four-square, split-level, ranch, cape cod, bi-level, tri-level, contemporary and a variety of exotic types and sub-types, it never ends.
Once you get beyond the style and the façade, and survey the main-level and head for the bedrooms, whether there is a first-floor bedroom or they all exist on the second and/or third levels, there are other issues a buyer should consider in addition to the number of bedrooms in the home.
In fact, there are some critical factors to consider that can affect many things, such as:
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Re-sale value
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The length of time it will take to re-sell
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Current needs versus future needs
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How long you plan to live in the home
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Where is all your "stuff" actually going to go?
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Do you need a home office?
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Do you need guest suite?
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Do you have family that stays over for vacations, holidays, family overnighters?
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Will the size of your household increase in the next 2, 5 or even 10 years?
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Do you have a hobby that needs its own dedicated space?
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What are the sizes of the closets?
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What are the room sizes and how does this affect the number of pieces of furniture that we can spaciously arrange in each room?
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How long will I plan on living in the home? If the buyer is younger, the odds are against living in the home for 20-30 years, as national averages are that people move every 5-7 years
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Will a king or queen size bed plus two nightstands fit in each bedroom?
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Is there only one full-bath in the home?
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If the home 2-story, are all bedrooms on the same level? Cape Cod style homes can have one bedroom on the first floor and two bedrooms on the second floor, or vice versa.
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What is the relationship between the # of bedrooms versus the number of full baths? The following are considered inadequate (or in an appraiser's terminology: functional obsolescence): 4br & 1ba, 5br & 1ba, 5br & 2ba.
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Are there bedrooms on a given level with NO full bath?
An example is a cape code that has 2 bedrooms on the main level that share a full-bath and one or two bedrooms on the second level with either no bath or only a half-bath. This makes the home much less desirable.
As a side note: If you ever see a home (some starter homes that have very small square footage) that does NOT have a half-bath on the main living area, this is a huge RED FLAG. This will severely restrict the number of buyers who will be interested in this home, and, as a result drag the price downward. Even if you love a home without a half-bath on the main level, before you buy, a professional contractor should evaluate the feasibility of installing a half-bath, given the space constraints and re-design that may be needed.
The considerations are both practical and affect your every day use and livability in the home, as well as your future resale marketability.
A buyer might ask: geez...I haven't even been in a home yet, and my agent is already letting me know about resale concerns, isn't that jumping ahead too quickly? My answer is absolutely not. If you contact me 2, 5, or 15 years from now to sell it, and there are practical considerations that may affect either how long it may take to sell your home, and/or the price, you will vaguely scratch your head and remember the conversation we had.
I feel this is an important conversation to have with a buyer because the majority of buyers aren't purchasing their "forever" or "30 year home" anymore, as we live in such a transient society today.
If I were to tell you: If you buy this 2 bedroom, single-family home, you will eliminate the majority of potential buyers, how does this make you feel? Note: This is can be dependent on the market and location and can be as high as 90% of the buyers, in my personal opinion, but there are no data to support my conclusion. Condos are a different story.
Same opinion for 3-bedroom single-family homes, but the percentage drops to 30-50%.
Homes which have more than four bedrooms can be a plus or minus, depending on the neighborhood, the number of bedrooms other homes in the neighborhood have, etc., and this is a more specialized case that doesn't warrant further discussion here.
Sometimes buyers will absolutely fall in love with a 2 or 3 bedroom home that has been very well maintained, has Pottery barn type décor, updated kitchen and baths, incredible landscaping, etc., and they lose sight of some of the practical considerations that a 2 or 3 bedroom home may present.
Apart from the resale aspect, which can potentially have a financial implication and also take much longer to sell, there are lifestyle considerations to take into account as well.
One lifestyle consideration for a 2-3 bedroom homes is: Is there a separate dining room or is it an eat-in kitchen? The latter tends to be more common with smaller, starter type homes and can tend to make re-sale harder.
I could add on to this list, but I think you can see there are both practical as well as resale issues that can affect your financial future when you decide to purchase a 2-3 bedroom home.
By all means, if a smaller, 2-3 bedroom single-family home is what you really want, then absolutely, go for it, and don't let anyone dissuade you.
A good rule of thumb is: if you can afford (not stretching your dollars to the limit) a four bedroom home, you are better off (financially and re-sale) purchasing a four bedroom home than a three bedroom home. The assumption here is that four bedroom homes are the majority in the neighborhood you are purchasing. If three bedrooms homes are the majority in a neighborhood, this rule does not apply.
Another important consideration is: If a home has four full bedrooms on the second floor, the most esirable configuration is to have two full baths.
On the other hand, being well-informed so you both see the big real estate picture as well as the life-style considerations, can help you make a wise and informed decision, whatever it may be! Happy searching!
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