Since Covid, there are a higher number of buyers seeking that extra bedroom. More often than not they want the extra space for office space, but sometimes too they want an extra room for a friend or family member, just in case. (For me, personally, I can work from a kitchen table — what I want is an extra bathroom! In fact, we paid an ungodly amount of money this past year to add an extra bathroom to our house, and to be honest it was worth every penny to not have to wait for the shower or toilet).
What does that extra bedroom or bathroom cost in today’s market, based on active listings in Seattle (specifically, West Seattle) today?
In short, a lot.
On average, an extra bedroom adds $519,749 to the list price of a home in today’s market. There is a wide range in this, of course. If you’re seeking a 1 bedroom home then decide to buy a 2-bedroom home instead, you’ll see an increase of 252,640 to the average list price. The biggest jump is upgrading to a 4-bedroom home — this adds a whopping 1.08 million (!) to the average list price as compared to a four-bedroom home.
Upgrading from a single bathroom is not quite as expensive as that extra bedroom, but it’s not free either: on average, the list price of a home increases by $423,309 if it has more than one bathroom, and $204,503 if it has more than two bathrooms.
Below is a chart comparing various bedroom and bathroom costs based on today’s the average asking price of today’s active listings. Please keep in mind, there are many variables that are generalized here but it at least gives a general idea of the current market based on the number of bedrooms and/or bathrooms. This is based on West Seattle data, but if you’re a buyer (or seller) and DM me I can run additional analysis for you on any particular greater Seattle neighborhood.
Thank you!
Rob Mathison (RobInSeattle.com) of Berkshire Hathaway Home Services
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