The extra bedroom that will cost homeowners more than $3 million

Sydney has some of the most expensive upgrades in Australia. When it comes to property, more bedrooms equals a higher price, right? Well, generally, yes, but not always. Exclusive new realestate.com.au data has revealed that four bedroom houses can cost more than $2 million more than three bedroom houses in some capital cities, but less than three-bedders in other parts of the country. And as families shrink in size over time, from averaging three kids 40 years ago, to less than two kids now, there is not as much demand for those extra bedrooms and will likely be even less so in the future. Space does remain at a premium however, with what might once have been a fifth bedroom now perhaps used for two home office spaces instead. MORE: Cost per bedroom in Qld suburbs revealed Realestate.com.au economist Megan Lieu said three bedroom houses were the most highly sought after homes across the nation, though four bedrooms were generally higher in price. “There is a very clear trend in the fact that an additional bedroom does add to the value of a house,” she said. “So homes with more bedrooms tend to be more expensive. This three-bedroom Main Beach house is for sale for $4.375m. “We have...