A married couple in their late 20s are intensely focused on the lifestyle available in Fort Collins, Colorado. There opportunities for hiking, cycling and skiing draw countless young homebuying aspirants from the Gen Z and millennial demographics.
The pair, both high-level coders with expertise in artificial intelligence and substantial salaries, have been working remotely since the pandemic started and continue to do so. But they’ve outgrown their rented apartment in Denver and have the funds to contemplate buying a place of their own.
“If we buy anywhere, we want Colorado, with space, space and more space. Also, we want a good deal,” says the husband.
Right now, the couple is seriously considering a five-bedroom house with a wraparound porch that was put up for sale by a retired widow more than 120 days ago.
“Our instincts tell us this lady has to come down on price, or her house will just sit around unsold like an abandoned orphan. We’re waiting until she gets real, because we love that big house,” the husband says.
Their plan would be to use one of the five bedrooms as their primary, one as an exercise room, one for guests and two for home offices.
“A couple of years ago, when the bidding wars were all the rage, this property would have gotten close to a million dollars. Now because of changes in the economy, we think it’s overpriced at $812,000. We’re prepared to bid $775,000 if the seller agrees,” the husband says.
For a wide array of reasons, homebuyers across generations are now eager to acquire property with multiple bedrooms. Although many professionals from the government and tech industries have been called back to the office, the Colorado couple are among those who can remain remote. They’re not the only ones who relish having extra bedrooms. Another category are buyers who seek to accommodate elderly parents or grandparents.
“Multigenerational living is now a key housing trend,” says Dorcas Helfant, a past president of the National Association of Realtors.
Helfant says that besides extended families seeking bedroom space for elders, many young buyers want an extra bedroom or two to rent out to help offset the expense of their mortgage.
“Obviously, affordability issues are big factors for buyers who intend to have housemates,” says Jon Boyd, an independent real estate broker based in Michigan.
He says the quest for an extra guest room can also be motivated by noneconomic factors.
“Couples can have a perfectly happy marriage. Yet if one partner snores, an extra bedroom can come in handy as a retreat,” Boyd says.
Here are a few pointers for homebuyers calculating the right number of bedrooms to seek:
-- Think ahead to the future needs of your household.
Boyd says it’s not unusual for young couples to fail to factor in possible future children when choosing a home.
Maybe you’re expecting your first child in two or three years. In this case, he says that purchasing a place with a bedroom that could serve as a nursery is a better bet than changing houses after the baby arrives.
“Ideally, you’ll want to hold the house you buy now for a period of at least four or five years before you move again,” Boyd says.
Buyers with teenage children should also be aware they may need housing even beyond their date of graduation from college or another postsecondary training program.
-- Don’t reject room-sharing if your family is large.
By the time they reach kindergarten, if not before, most children yearn for a bedroom of their own. Yet if your family is large or you hanker to convert at least one bedroom to a home office, it may not be possible to furnish each child with a private bedroom.
Still, Boyd says buyers needn’t worry if the house they purchase has too few bedrooms to meet their children’s wishes. He sees some benefits to room-sharing, especially for preadolescent children.
“My two daughters shared rooms until they were 12 or so. That way, they learned to make compromises and to get along,” Boyd says.
-- Seek a first-floor suite for an elder parent.
Boyd estimates that currently at least 20% of all buyers are now talking about one or two parents moving in with them at some point in the future.
If this is a possibility in your case, he says you should consider buying a one-level, ranch-style home or a place with a first-floor suite, complete with a private bath.
Even if your parents can easily climb the stairs now, they might find it a lot harder later. Having easy access to a bedroom with a full bath can be especially important.
“Because of the aging population, a first-floor suite can also be a plus for resale,” Boyd says.
-- Make sure any room counted as a “bedroom” fits the definition.
Given the popularity of properties with plenty of bedrooms, Boyd says it’s not unusual for home sellers to sometimes stretch the definition when counting their bedrooms.
On occasion, for example, some sellers will place an Ikea wardrobe or an armoire in a spare room and claim it’s a bedroom. Or they’ll falsely count a sitting room off a master suite as a bedroom.
“Don’t be fooled. At the minimum to qualify as a bedroom, a room needs a built-in closet. It also needs a window or door for egress,” Boyd says.
(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)