1. Never monetize feats. Their uses are just too varied to be accurately priced.
2. You can give them bonus feats if you REALLY want to, but I wouldn't let them get any input were I you.
3. Probably should be in homebrew.
How Much is a Feat Worth in Gold?
Ignore Malfus. :)
No really, pricing feats is very useful, not so that PCs can buy them, but so that you can balance the extra rewards against WBL. So if I'm a GM and I want to just freaking give out a feat because a great-in-game reason happened, then I can be assured that it's not making the players super powerful by tracking it in WBL.
Of course, if you go real crazy and decide to let players buy feats, there is a different type of problem that you can solve that way. Two of them!
Low-Magic gaming/the xmas tree effect. Let them buy feats, let them buy items, make them all invisible. Price everything as a magic item and just dispense with the "item" part and make them intrinsic powers of the character. Of course, if they find a flying carpet anyway, keep it as a carpet, but if someone is a mage who just wants to fly, let them "buy" boots of flying or whatever and just treat it like a permanent spell. If you track everything as part of WBL, challenge rating should work perfectly well. The only downside is the condemnation from purists.
Over-restrictive character creation. Oh, suddenly my bard isn't feat-starved any more, he's just broke!!! Seriously. The game gets a lot more fun for some character types if they can actually get the feats they need. And if you price those feats fairly against WBL, you don't break any of the encounter-balance metrics that make Pathfinder so nice to GM.
Could be you don't need to solve either of the above problems. Heck, I play RAW. But this is a nice little hack I've been working on in the background for months... and I'm really excited about it.
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I price feats as being worth between 2,500 gp and 10,000 gp, though I don't let PCs just buy them. That price is only for me to know what theya re worth when used as a form of treasure.
Here's my logic, from The Genius Guide to Loot 4 Less Vol. 2: Pretty, Pretty Ring.
Behind the Counter: Pricing Feats
Many of the rings in this book (such as the ring of warning) are priced based on being as effective as part of a feat, and thus priced as
a fraction of what the feat itself would cost. The assumption made is that a magic item that grants a feat costs 5,000 gp.
This supposition can be supported with the price of the gloves of arrow snatching. These gloves, which cost 4,000 gp, allow the wearer to act as if he had the Snatch Arrows feat twice per day. Since the Snatch Arrows
feat is only useful in conjunction with Deflect Arrows, the gloves really grant two feats twice a day. Since 2 charges per day means dividing the base cost by 2.5 (5 divided by charges per day) the base cost of 2 feats is determined to be (2.5 x 4,000 gp) 10,000 gp, which means one feat is worth 5,000 gp.
I price feats as being worth between 2,500 gp and 10,000 gp, though I don't let PCs just buy them.
You could let them, though. It would be different, but the game wouldn't break if the feats were priced fairly against WBL. Not to be undertaken lightly, but it can be a lot of fun.
I reward bonus feats in some scenarios and it goes over quite well. Make sure you pick the feat since it is a bonus the player shouldn't get to decide which it is. Also anytime one of my players has a bday in rl I let them choose a bonus feat for their character or a roll on the wonderous item chart just for fun.