Episode 068 – What is a Bedroom? Bedrooms – what a huge source of argument between agents, buyers, sellers, and appraisers. What is a bedroom and does it really matter. Short answer, NO! Let's get into that pesky definition and why that label really doesn't matter. SHOW NOTES 01:10 – What qualifies as a bedroom? No rule. 02:10 – Local code might have a "rule" on what qualifies as a bedroom for new construction, remodeling, or permitting. 02:59 – Local MLS policy might direct agents how to advertise/disclose what a bedroom includes. 03:34 – Unknown "sources" have an opinion. 03:49 – In the appraisal world, how does a room affect value? No rules except one with FHA. 04:45 – What matters is what the market thinks the room will function as. 04:57 – "General" definition of a bedroom: entry door that is closable, closet, second means of egress (door or window), and do I have to walk through one room to get to the second room. 07:40 – What would a typical buyer/the market do in this market? Would they use it as a bedroom? 07:57 – Newer homes might need to comply the "general" rules. 08:36 – Older/historic homes likely don't have a closet and comps are similar. 10:12 – What does the market think? 10:35 – Basement bedrooms are a thing too. Egress windows, closets and the difference between above and below grade bedrooms. 11:40 – So what if it's not a "bedroom"? Room didn't magically disappear. The label might not be a bedroom, but the room exists so it still has value. Functionality is what matters. 13:18 – Room has value regardless of its label. Is its value significantly diminished? Probably not. 14:25 – Don't get wrapped up in the room's label. Be transparent and disclose what the room includes. SHOW LINKS "Truly, Madly, Deeply" Savage Garden – https://www.youtube.com/watch?v=WQnAxOQxQIU MIBOR – https://www.mibor.com/ BETWEEN THE LINES LINKS Email brian@brianclee.com Web brianclee.com Facebook https://www.facebook.com/groups/realestatebetweenthelines/ https://www.facebook.com/Brian-C-Lee-111822417027919/? YouTube https://www.youtube.com/channel/UCcv4dHU39-b5_QVVCIhbcBA?