This week I wanted to take a look at value differences among 2 and 3 bedroom houses that have either 1 or 2 bathrooms. The reason being that I have seen 2 bedroom houses with 2 bathrooms selling at prices that are similar to some 3 bed/1 bath houses in the same neighborhood. This seemed at odds with traditional wisdom that says buyers value a 3 bedroom house significantly more than 2 bedroom houses. I wanted to investigate what had a greater impact on home values, adding a bedroom to a 2 bedroom house or adding a bathroom to a 2 bed or 3 bed house that has only 1. Using the data from homes sold in Hamilton county over the previous three months, the price per square foot is similar between two and three bedroom houses having the same number of bathrooms, however it is clear that adding a bathroom to a house that has only one has a dramatic impact on the value of the home. Two bedroom houses with 2 baths sell on average for 16.5% more per square foot than houses with only 1 bathroom. Three bedroom houses with 2 bathrooms sell on average for 20.4% more per square foot than houses with only 1 bathroom. It is important to note that this is aggregate data; the difference might be more or less in specific neighborhoods. However, it would suggest that owners of houses with 1 bathroom might be able to increase the value of their home by $20,000 to $25,000 or even more by adding a bathroom. It also means than buyers that are looking for a 2 bathroom house may be able to save money by buying a 1 bathroom house and adding the second bathroom, assuming the layout makes the addition a straightforward project. Please feel free to reach out to discuss your particular situation! I would be happy to look at the data for a specific neighborhood for you.
Our children have been involved with the gymnastics program at Kids First, and it has been a fantastic experience for us and them. Besides gymnastics, they offer swimming, diving, dance, cheer leading, basketball, soccer, fencing, ninja warrior, art, yoga, karate, and volleyball programs for children in the largest children's sport facility in the United States. There are also occupational, physical, and speech therapy services for children. Learn more here or visit them at 7900 East Kemper Rd, Cincinnati, OH 45249.