How adding a bedroom can significantly boost your home’s value

New data from realestate.co.nz has revealed just how much extra bedrooms can increase a property’s asking price, showing that bedroom count is one of the clearest indicators of price difference in New Zealand’s housing market.

Across the country, average asking prices jump sharply with each extra bedroom. The increase is 32% from one to two bedrooms, 31% from two to three bedrooms, 43% from three to four bedrooms and 40% from four to five or more bedrooms.

Those gains are significant, realestate.co.nz Spokesperson Vanessa Williams said. “At a national level, we’re talking about an almost $400,000 jump between a three-bedroom and a four-bedroom home and almost half a million dollars in increased value between a four-bedroom and a five-bedroom home,” she said.

“Property owners who are willing to roll up their sleeves and add another bedroom through a smart renovation will likely benefit when selling. Not only can adding an extra bedroom make a property more liveable, but it can also deliver one of the most significant value boosts when it comes time to sell. On the flip side, buyers need to be aware of the price differences when upsizing.”

Five secrets of a successful renovation

For homeowners considering adding a bedroom, planning is everything. Here are five ways to improve your chances of a smooth and successful renovation:

1. Set a clear budget. Include a contingency fund for unexpected costs to avoid financial stress.
2. Secure the right consents. Check with your local council early to ensure you have all the approvals required.
3. Choose reliable contractors. Get multiple quotes, check references and confirm licences before signing contracts.
4. Plan for disruption. Renovations can be messy and time-consuming, so think ahead about how you’ll manage daily life during the build.
5. Talk to a mortgage adviser. I can help you explore your financing options, including top-ups or renovation loans, to fund your project with confidence.

Thinking about adding an extra bedroom to boost your property’s value? Contact me to discuss your renovation plans and the best way to finance them.