Is it unwise to buy a one bedroom house?

Humphrey10

I've seen and heard a few people on these forums and elsewhere saying they would never consider buying a one bed house because they can be hard to sell, and that it is better to wait a buy a larger place. Is this always true?

I would have thought there would always be first time buyers and single people wanting houses so it should be possible to sell. And anyway, if I buy a one bed house, I would be planning to live there for years, I'd only move if I had to move because of work, so it doesn't really matter if it wouldn't sell to easily.

What's the general consensus, are one bed houses a waste of money?

GlynD

I agree with what you say. Starter home are always more popular than others so I couldn't see any particular difficulty in selling it in the future, especially after this recession is over. I take it there's plenty of storage?

BitterAndTwisted

If I had the choice I would never buy one. But I'm not everyone. One bedroomed flats still sell but obviously the potential market is much, much smaller than for a larger property.

HappyMJ

Yes and no. If you are young and single then yes it's a waste of money too many things can happen...new job...new partner...new baby. However, if you are retired then no a 1 bed bungalow would be perfect.

GlynD

I had a one bed apartment 20 years ago and it sold within 24 hours when I put it on the market.

KateLiana27

I wouldn't say it's necessarily a waste of money, but you will have a very limited market to sell to. Even people who only need one bedroom (like us) much prefer a second to use as a study, a spare room, etc. Though you are not planning to move, things happen - work changes, redundancy, relationships, family issues - that means that it's sensible to always have an eye on resale value just in case.

Is there another room that could be converted to a bedroom if necessary? For example, a separate dining room? This might help.

PasturesNew

A 1 bed house can be better than a 2 bedroom flat if you're on you're own. With a house you've a garden and everything's "yours", freehold.

I'd rather have a 1-bed house than a 2-bed flat.

Humphrey10

Re: storage, there's a garage.

It's a house, not a flat. I never want to live in a flat or mid terrace again, I can't cope with the noise.

HappyMJ, I find children very irritating, so no babies for me. I'm enjoying living on my own too much to want to be in a serious relationship any time soon. Living with people gets old fast, cute little habits get irritating real quick imo.

I work full time so I can't even get a dog, so don't need space for one of those either!

The house is in better condition than the place I am renting, the mortgage repayments would be cheaper than my current rent, the house is slightly bigger. Also I wouldn't be wasting money on rent, if I wanted to paint the walls with green stripes or whatever I could just go and paint them, if I wanted to replace carpets etc I could do. But I could just stay renting if I wanted. But it seems silly to pass up the opportunity to buy as a suitable property is available.

Humphrey10

Yes it's freehold. That was another benefit, I hope never to have to mess around with a leasehold place. The garage could be converted into another room I guess, some similar houses nearby have done that. But then you'd loose the garage, and there is no driveway.

GlynD

You know after reading what you've written I'd be inclined to snap the wee place up. It sounds ideal for a single person of your experience. I'm quite similar to you and it sounds like the right place for me.

chappers

All depends on the demand in the area I have two one bedroom houses with no gardens that have been registered with an estate agent for a week and they have already had 7 people who want to view when they are ready next week and that is without any photos or advertising.
For many FTB a one bed place may be all they can afford