Two vs. Three Bedrooms

Over the past couple of decades the shift in popularity has gone from two bedroom, two bathroom to a three bedroom. The strange part is that family sizes are decreasing and costs are increasing, so what is that third bedroom really worth?

Firstly, a non monetary benefit of a three bedroom is that there is room to grow into. If there are more kids, family visitors, or any other life changes, the third bedroom offers flexibility. In addition, this third bedroom gives us the push to actually commit to the house for a longer period as opposed to two bedrooms where the likelihood of needing more space is a very real possibility. Now that is not to say a two bedroom isn’t feasible. If you are done growing your family, if you are retired, a young couple starting your life together, a two bedroom offers the perfect amount of space and a smaller price tag. Not to mention, if there are two bathrooms, or 2.5 bathrooms, these are great options and offer the ability to have a guest room and bathroom, a place for kids and ample space to live without cramming.

Second thing to note is in regards to price. If the gap between the two and three bedroom was still over 150 000 then perhaps that third bedroom would be totally unnecessary for a one child couple for example. But that isn’t the reality anymore, with the price gap having decreased and the third bedroom can be below 70 000 dollars. Though it seems like this is still a lot of money, consider still the fact that this could and may be a worthwhile investment, depending on the neighbourhood, the house and obviously a number of other factors.

That third bedroom could be trivial in the long run so if you are in the market for a two bedroom apartment or house, consider expanding your search to three bedrooms.