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  • FIRST POST
    • mystic_bertie
    • By mystic_bertie 8th Feb 18, 1:28 PM
    • 525Posts
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    mystic_bertie
    1 Bedroom House New Build - Is It A Bad Idea?
    • #1
    • 8th Feb 18, 1:28 PM
    1 Bedroom House New Build - Is It A Bad Idea? 8th Feb 18 at 1:28 PM
    Hi guys.

    I am looking to buy a house, at the moment im in a private rented property, im not a first time buyer. I live between Coventry and Leicester and the standard of pre owned houses it atrocious, to the point i cant find something i like and that meets my requirements.

    I have found a detached 1 bedroom bungalow for sale, its a new build for £199k and available through the help to buy scheme. This makes it affordable for me. I would not normally go for a 1 bedroom house but it meets my needs. It has a large living room and 1 upstairs large main bedroom, i mean large by today's new house standard. The alternative is a 2 bedroom semi house for the same price, i dont like these tiny boxes that are all crammed together with no gardens and an allocated parking space. So i have no need for a second bedroom other than to store junk. Is buying a one bedroom bungalow a bad idea. I dont want to buy a house that im going to struggle to sell. I know it wont appeal to most people but is it going to be nearly impossible to sell later on?

    As this is a new detached one bedroom bungalow house with the bedroom in the 1st floor it is quite spacious, how do i know what to offer as i cant compare it to anything else that has sold because there is nothing similar. All the other new build bungalows are 2 bedroom. Any i have seen in a wider radius are old and in a bad decorative condition, so you cant compare the prices. I just know i would rather buy this 1 bedroom bungalow that the small 2 bedroom semi detached houses that are available.
Page 1
    • BorisThomson
    • By BorisThomson 8th Feb 18, 1:39 PM
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    BorisThomson
    • #2
    • 8th Feb 18, 1:39 PM
    • #2
    • 8th Feb 18, 1:39 PM
    Do you have a link to the development, or the same property on another development? A one bedroom bungalow is not going to appeal to many, add to that the new build premium you'll pay, and I doubt you'd get £150K at resale.
    • bowlhead99
    • By bowlhead99 8th Feb 18, 1:47 PM
    • 7,289 Posts
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    bowlhead99
    • #3
    • 8th Feb 18, 1:47 PM
    • #3
    • 8th Feb 18, 1:47 PM
    I think you would find significantly reduced demand when you come to sell it, compared to other property types.

    Most people who are in the market for a 'house' rather than a flat, are looking for more space than just the one room to live in and one room to sleep in. They might go for a 2-3 bed house rather than a 2-3 bed flat because they value the extra privacy of not having someone above/below or on both sides. But if they only need 1 bedroom they will very often accept the compromise of just living in a flat. If their budget supports more than a flat, they'll get a 'conventional' house with the space and privacy that brings. The second bedroom can be for guests (so visiting family or friends don't need to get a hotel when visiting) or as an office / study / segregated living area for non-loungy stuff.

    So even if your prospctive buyers don't have any friends or family that they want to host, if they're of working age they might want something like a home office, or if they're childbearing age they might want space for an addition to the family. If they're not of working age or parenting age and never want guests staying over, maybe they are older or infirm which is a key demographic of people who buy bungalows. Aha - a target market for your future sale!

    Except people who get old and want to move into a bungalow due to reduced mobility, don't really want an upstairs bedroom. They would prefer everything to be on the ground floor.

    So, while all the above is only generalising, there are not many people who would want a 'split level 1-bed flat without another flat above it' if they could have a more conventional 2-bed semi for the same money. Is your 'two storey bungalow' a detached?
    • mystic_bertie
    • By mystic_bertie 8th Feb 18, 1:59 PM
    • 525 Posts
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    mystic_bertie
    • #4
    • 8th Feb 18, 1:59 PM
    • #4
    • 8th Feb 18, 1:59 PM
    Do you have a link to the development, or the same property on another development? A one bedroom bungalow is not going to appeal to many, add to that the new build premium you'll pay, and I doubt you'd get £150K at resale.
    Originally posted by BorisThomson
    Yeah i kind of thought that. There is only 2 built becaus eits just on a bit of spare land.

    http://www.rightmove.co.uk/new-homes-for-sale/property-63899266.html

    I think you would find significantly reduced demand when you come to sell it, compared to other property types.

    Most people who are in the market for a 'house' rather than a flat, are looking for more space than just the one room to live in and one room to sleep in. They might go for a 2-3 bed house rather than a 2-3 bed flat because they value the extra privacy of not having someone above/below or on both sides. But if they only need 1 bedroom they will very often accept the compromise of just living in a flat. If their budget supports more than a flat, they'll get a 'conventional' house with the space and privacy that brings. The second bedroom can be for guests (so visiting family or friends don't need to get a hotel when visiting) or as an office / study / segregated living area for non-loungy stuff.

    So even if your prospctive buyers don't have any friends or family that they want to host, if they're of working age they might want something like a home office, or if they're childbearing age they might want space for an addition to the family. If they're not of working age or parenting age and never want guests staying over, maybe they are older or infirm which is a key demographic of people who buy bungalows. Aha - a target market for your future sale!

    Except people who get old and want to move into a bungalow due to reduced mobility, don't really want an upstairs bedroom. They would prefer everything to be on the ground floor.

    So, while all the above is only generalising, there are not many people who would want a 'split level 1-bed flat without another flat above it' if they could have a more conventional 2-bed semi for the same money. Is your 'two storey bungalow' a detached?
    Originally posted by bowlhead99
    I do like your common sense approach. You have ruled out everyone for a possible future buyer ha ha, its ok i like to hear the honest possibilities i may face. This property is detached which makes it a premium, new houses are also a premium, bungalows in general are more expensive too. Its between Nuneaton and Tamworth. For me detached is what i want but i cant afford a detached house. I like to play my movies and music loud and i also like my privacy. So the large living room is great and the large bedroom is great, i have room to park my car on my own garden, it has lovely kitchen and bathroom.

    http://www.rightmove.co.uk/new-homes-for-sale/property-63899266.html
    • Penitent
    • By Penitent 8th Feb 18, 2:00 PM
    • 2,055 Posts
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    Penitent
    • #5
    • 8th Feb 18, 2:00 PM
    • #5
    • 8th Feb 18, 2:00 PM
    I would happily buy a one bed bungalow (stairs and I don't get along), but not if the bedroom is upstairs, as that defeats the whole purpose of buying a bungalow.

    If it was on one floor, I think you'd have a better chance of resale as there's typically more folk who need one-floor accom than there is available. Yours is basically just a one-bed two-floor house, which I don't think there's a massive market for.
    Last edited by Penitent; 08-02-2018 at 2:03 PM.
    • 2bFrank
    • By 2bFrank 8th Feb 18, 2:04 PM
    • 195 Posts
    • 105 Thanks
    2bFrank
    • #6
    • 8th Feb 18, 2:04 PM
    • #6
    • 8th Feb 18, 2:04 PM
    It has a large living room and 1 upstairs large main bedroom
    I might not be understanding it correctly, but an upstairs bedroom doesn't sound like a bungalow.

    One bedroom properties are less desirable as people plan for the future with children etc. and would prefer a 2+ bedroom. However, in my area, bungalows attract a lot of buyers due to the scarcity of them. I true bungalow will always attract mature buyers looking to downsize and buyers that have a disability as everything is on one floor.

    If the bedroom is upstairs, then you will lose these types of buyers, plus as it is a one bedroom, you are really restricting your resale market. From your description, it sounds like you are buying a one bedroom house, not a real bungalow.

    That being said, if it fits your needs and you will be in there for the very long term, I wouldn't worry about it as much, but if you are looking to move on in the next 5-10 years, then I would really question if it is right for you, New builds mostly lose some value anyways and with a restricted market, you may not sell it for the price you hope.
    Jumping into the housing market head first.
    • BorisThomson
    • By BorisThomson 8th Feb 18, 2:06 PM
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    BorisThomson
    • #7
    • 8th Feb 18, 2:06 PM
    • #7
    • 8th Feb 18, 2:06 PM
    It's nicely presented, but it is very compact, and it's not even got a bath. Looking at other properties in the area, it is massively overpriced. If you do want it, I'd be offering no more than £140K.

    (And with the others, it's not a bungalow.)
    • fozziebeartoo
    • By fozziebeartoo 8th Feb 18, 2:18 PM
    • 1,532 Posts
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    fozziebeartoo
    • #8
    • 8th Feb 18, 2:18 PM
    • #8
    • 8th Feb 18, 2:18 PM
    I would love it!

    But......I need a bungalow because I cannot manage stairs....
    • Penitent
    • By Penitent 8th Feb 18, 2:19 PM
    • 2,055 Posts
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    Penitent
    • #9
    • 8th Feb 18, 2:19 PM
    • #9
    • 8th Feb 18, 2:19 PM
    Jesus, I didn't even notice the price. You could get a three bed with a garden for less than that if you head a bit further south. You could spend the change getting it up to your preferred decorative condition.
    • carlislelass
    • By carlislelass 8th Feb 18, 2:31 PM
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    carlislelass
    Definitely not a bungalow
    • lincroft1710
    • By lincroft1710 8th Feb 18, 2:35 PM
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    lincroft1710
    I just can't see where the market is for such a property. Unless it is for a single person who wants a pied-a-terre and doesn't want an apartment or semi/terrace. Or someone who has no intention of living with anyone else.

    But how many would really want to pay £200K to live in Atherstone in a 1 bed house.
    • mystic_bertie
    • By mystic_bertie 8th Feb 18, 2:41 PM
    • 525 Posts
    • 71 Thanks
    mystic_bertie
    It's nicely presented, but it is very compact, and it's not even got a bath. Looking at other properties in the area, it is massively overpriced. If you do want it, I'd be offering no more than £140K.

    (And with the others, it's not a bungalow.)
    Originally posted by BorisThomson
    I forgot a bath would make a difference, i dont want a bath and a walk in shower is great but then it might make it less desirable than it is to future buyers. Any new build will be more expensive than nearby properties, a few i looked at online are 2 bedroom semi's starting around £190k. I can afford a preowned house up to 170k but as i said they are all pretty tatty. I dont want to buy a tatty house that i dont like and then spend loads making it nicer inside.



    I would love it!

    But......I need a bungalow because I cannot manage stairs....
    Originally posted by fozziebeartoo
    Thanks for your reply.

    Jesus, I didn't even notice the price. You could get a three bed with a garden for less than that if you head a bit further south. You could spend the change getting it up to your preferred decorative condition.
    Originally posted by Penitent
    Do you mean a three bedroom new build as they aint that price round here. The cheapest 3 bed new build semi i seen is in Barwell. No garden at front just a parking space, all the houses are crammed together and it is an eyesore even if they are new houses. Places like Beltway are selling houses near to my current house for about 190k for a 2 bed semi, 3 bed semi is 220k. I dont like either of them, too small inside and they way they lay out new building estates is truelly awful. As its help to but i can only afford 200k on a new build. My budget is 170k on a preowned house.
    • AdrianC
    • By AdrianC 8th Feb 18, 2:43 PM
    • 16,448 Posts
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    AdrianC
    Jesus, I didn't even notice the price. You could get a three bed with a garden for less than that if you head a bit further south.
    Originally posted by Penitent
    Just move RM to a 5 mile radius, and there's a choice of new build 3beds with garden.
    http://www.rightmove.co.uk/new-homes-for-sale/property-51951780.html
    http://www.rightmove.co.uk/new-homes-for-sale/property-52646322.html

    If we get over the new-build hangup, then...
    http://www.rightmove.co.uk/property-for-sale/property-70998680.html
    http://www.rightmove.co.uk/property-for-sale/property-63711118.html
    ...or if the budget'll go up a little...
    http://www.rightmove.co.uk/property-for-sale/property-58732399.html

    All are a MUCH better bet than what's essentially a 1-bed detached flat.

    Edit: Just seen the "But only £170k for non-new-build". Ah, the market-skewing effects of HtB. Just remember that when you come to sell it, those £170k non-new-builds are what you'll be selling against... Effectively, that £30k premium is straight down the bin.
    Last edited by AdrianC; 08-02-2018 at 2:45 PM.
    • Beardmidget
    • By Beardmidget 8th Feb 18, 2:50 PM
    • 115 Posts
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    Beardmidget
    Honestly, it’s not beyond the wit of man to see that that property could be turned into a perfectly acceptable 2 bed by throwing a dormer on the back of the bedroom and partitioning it.

    That would give you two small doubles which is probably reasonable for the size of the house.

    If you can jink the price down a bit, it doesn’t seem crazy.
    • mystic_bertie
    • By mystic_bertie 8th Feb 18, 2:53 PM
    • 525 Posts
    • 71 Thanks
    mystic_bertie
    I might not be understanding it correctly, but an upstairs bedroom doesn't sound like a bungalow.

    One bedroom properties are less desirable as people plan for the future with children etc. and would prefer a 2+ bedroom. However, in my area, bungalows attract a lot of buyers due to the scarcity of them. I true bungalow will always attract mature buyers looking to downsize and buyers that have a disability as everything is on one floor.

    If the bedroom is upstairs, then you will lose these types of buyers, plus as it is a one bedroom, you are really restricting your resale market. From your description, it sounds like you are buying a one bedroom house, not a real bungalow.

    That being said, if it fits your needs and you will be in there for the very long term, I wouldn't worry about it as much, but if you are looking to move on in the next 5-10 years, then I would really question if it is right for you, New builds mostly lose some value anyways and with a restricted market, you may not sell it for the price you hope.
    Originally posted by 2bFrank
    Thanks for your reply. What your suggesting does go along with the thoughts of the others too. I have no idea how long i would be living there. My more recent years have meant a bit of moving about due to lack of jobs and unemployment. I cant say for sure what im likely to stay there for. I agree though if it was for a longer time it may be worthwhile. Im now reconsidering this house as its seems a bit too much of a risk.

    I just can't see where the market is for such a property. Unless it is for a single person who wants a pied-a-terre and doesn't want an apartment or semi/terrace. Or someone who has no intention of living with anyone else.

    But how many would really want to pay £200K to live in Atherstone in a 1 bed house.
    Originally posted by lincroft1710
    I am 48 and have a partner already and this would suit us. I can now see why given the replies, why is does not appeal to anyone else. New builds are expensive everywhere. Coventry in a bit of a dump. Leicester looks better but has a lot of rough areas too. Nuneaton is a bit like Coventry it depends where you go. It looks like you need to go to the smaller villages for a better places to live. Im not an expert on Atherstone as im nearer to Hinckley, i like Hinckley but finding an affordable decent house is scarce.
    • Penitent
    • By Penitent 8th Feb 18, 2:57 PM
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    Penitent
    Do you mean a three bedroom new build as they aint that price round here. The cheapest 3 bed new build semi i seen is in Barwell. No garden at front just a parking space, all the houses are crammed together and it is an eyesore even if they are new houses. Places like Beltway are selling houses near to my current house for about 190k for a 2 bed semi, 3 bed semi is 220k. I dont like either of them, too small inside and they way they lay out new building estates is truelly awful. As its help to but i can only afford 200k on a new build. My budget is 170k on a preowned house.
    Originally posted by mystic_bertie
    No, I mean the pre-owned kind. My mum bought a dated three bed for a good price, did it up to her own standard and taste. The cost of buying + the cost of improving was still less than she would have paid for a new build. It's currently worth more than triple what she paid and has very good prospects for resale if she wanted to sell.

    The one you're looking at is being sold for a premium, will be difficult to resell and I suspect you'll struggle to get back what you paid.

    When I said further south, I meant a bit further than that. Nuneaton, Bedworth, the northern suburbs of Cov.
    • lincroft1710
    • By lincroft1710 8th Feb 18, 3:03 PM
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    lincroft1710
    I know this is absolutely miles from where you want to live

    http://www.rightmove.co.uk/property-for-sale/property-52213425.html#tab=floorplan

    but it does show there are some reasonably priced newbuilds
    • mystic_bertie
    • By mystic_bertie 8th Feb 18, 3:09 PM
    • 525 Posts
    • 71 Thanks
    mystic_bertie
    Just move RM to a 5 mile radius, and there's a choice of new build 3beds with garden.
    http://www.rightmove.co.uk/new-homes-for-sale/property-51951780.html
    http://www.rightmove.co.uk/new-homes-for-sale/property-52646322.html

    If we get over the new-build hangup, then...
    http://www.rightmove.co.uk/property-for-sale/property-70998680.html
    http://www.rightmove.co.uk/property-for-sale/property-63711118.html
    ...or if the budget'll go up a little...
    http://www.rightmove.co.uk/property-for-sale/property-58732399.html

    All are a MUCH better bet than what's essentially a 1-bed detached flat.

    Edit: Just seen the "But only £170k for non-new-build". Ah, the market-skewing effects of HtB. Just remember that when you come to sell it, those £170k non-new-builds are what you'll be selling against... Effectively, that £30k premium is straight down the bin.
    Originally posted by AdrianC
    Thanks for taking the time to look at other properties. The 1st new build the living room is way way too small and typical is new houses that are so small. The second new build is 205k and my max budget on HTB is 200k. None of the preowned links apply because my budget is 170 for a normal preowned purchase. I can only get 200k on HTB scheme.

    After reading everyone answers i have cancelled my appointment to see the property.
    • mystic_bertie
    • By mystic_bertie 8th Feb 18, 3:11 PM
    • 525 Posts
    • 71 Thanks
    mystic_bertie
    Guys after reading all your wonderful and helpful replies i have realised that this was not a good purchase. I have seen how slim my chances are of reselling or even reselling at a decent price. I have cancelled my appointment. Thanks to everyone. The search goes on.
    • mystic_bertie
    • By mystic_bertie 8th Feb 18, 3:19 PM
    • 525 Posts
    • 71 Thanks
    mystic_bertie
    No, I mean the pre-owned kind. My mum bought a dated three bed for a good price, did it up to her own standard and taste. The cost of buying + the cost of improving was still less than she would have paid for a new build. It's currently worth more than triple what she paid and has very good prospects for resale if she wanted to sell.

    The one you're looking at is being sold for a premium, will be difficult to resell and I suspect you'll struggle to get back what you paid.

    When I said further south, I meant a bit further than that. Nuneaton, Bedworth, the northern suburbs of Cov.
    Originally posted by Penitent
    I want a home that is in decent condition and that would need minimum decorating, maybe paint a couple of rooms and replace carpets. If i buy a cheaper house that requires a lot of work, i dont have any spare cash to do the repairs and upgrade kitchens and bathrooms. If i buy a more expensive house in good decorative order, i dont need to find money for improvement i.e its in the price of my mortgage. Also i have seen some of the traditional 3 bedroom semi's for sale,, i do like them, they do need a lot of work and a lot of money spent, however the asking prices do not reflect them, i could sent you loads of these properties priced at 170 to 180k and they require major work. I dont know how that would attract any buyer.

    I know this is absolutely miles from where you want to live

    http://www.rightmove.co.uk/property-for-sale/property-52213425.html#tab=floorplan

    but it does show there are some reasonably priced newbuilds
    Originally posted by lincroft1710
    Thanks for the link it is a nice house but too far away. I have even seen affordable detached houses in Coalville but it is 32 miles from my work in Coventry and miles from a lot of places, probably the reason for it being cheaper.
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