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When appraisals are done, are they compared to the number of bedrooms between properties?

In the case of income properties, are the number of bedrooms compared or does this not make a difference?
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October 11 2013 - US
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Answers (3)

Bedrooms are always compared.  A 4 bedroom home is worth considerably more than a 2 bedroom. 

Below ground bedrooms probably will not count unless they have 2 exits from the room and a closet.
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October 11 2013
Profile picture for B Mike West
As Tim and Rachel have indicated, an appraisal takes many factors into account and factors in price adjustments for the differences between comps.  This process is the same if the home is an investment/income generating home or one in which the owner lives.
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October 11 2013
Yes bedrooms make a huge difference. That is not to say a 3 bedroom house can't be used to get a value of a 4 bedroom house, it can. When comparing homes an appraiser, or Realtor, makes adjustments to the values to compare a 3 vs 4 bedroom house or one with a pool to one without one, or to compare a 2000 sq ft house to one with 2300 sq ft. You would try to not use a 6 bedroom house to get a value for a 3 bedroom house if possible, you want the comparable as close to each other as possible. Comparing a 2 year old house to a 60 year old one is a bit of a stretch too and would be avoided if possible.


tim
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