One bedroom vs two bedroom - which is easier to re-sell?

londonman81

I have a decision to make between purchasing a one bedroom flat in a very nice area versus a two bedroom flat in a less nice (albeit still OK) area.

I'm keen to ensure that I have the largest possible pool of people for resale purposes, even though that may be 5+ years away.

In general, is it easier to sell a one bedroom flat or a two bedroom flat. Are they vastly different markets? Does one have any big advantage/disadvantage versus the other?

Thank you

I_have_spoken

There is no market for 1-beds, 2-beds you can only sell to BTL LLs

testpilot4321

I would personally only ever go for the 2 bedroom flat in a slightly less desirable area, much easier to sell, option to rent a room if extra income is needed or just ideal for storage as most 1 bed flats have limited storage.

Talc1234

Houses are easier to sell than flats since yoy don't pay a service charge and usually have a garden

2 bedrooms are easier to sell than 1 as buyers will value the extra room for friends comming to stay or when they have kids or renting the other room out for extra £££

But a well priced 1 bedroom flat is better than an overpriced 2 bedroom

redskyatnight_2

Agree with the peeps on here. I would never elect to have a 1 bed property. Very hard to get rid of...

cattie

By your user name I guess you live in London & in London there is a glut of 1 bedroom flats. Go for the 2 bed as there will always be a market for them & should you wish to sell it won't hang around as long as a 1 bed would.

LE3

2 bed everytime!
Much wider market for selling than any 1 bed

lessonlearned

Bought a 1 bedroomed cottage - all I could afford at the time. Two years later sold it in 4 days. Buyers were desperately trying to out-bid one another.

However.......It was in a premier area of the city - extremely desirable. The only reason I sold it was to relocate to another part of the country with my new husband. Whilst I lived in it I turned it from a so-so ex rental to a sophisticated elegant home - on a shoestring budget of course.:rotfl:

Generally I would agree that it is is better to purchase a 2 bedroom dwelling, but only if the square footage allows two decent sized bedrooms and the layout hasn't compromised the kitchen or living areas. One pokey master bedroom and one "half" a bedroom doesn't work well, neither does a kitchen the size of a shoe box.

My cottage only had one bedroom, but it had a good sized lounge, dining room, decent kitchen and a bathroom you could hold a dance in.

Most importantly - do not buy in an inferior location. Buy the best location you can afford.

Two bedroomed flats in less salubrious locations go downhill fast. Be watchful and pay very close attention to the condition of the communal areas, entrances and grounds.

Shabby communal areas, graffiti, litter, dustbins scattered around - don't touch it with a bargepole.

The point to remember is that a small pokey sub standard two bedroomed property will only really appeal to BTL's who are going to want to pay rock bottom prices - especially if the location is lacklustre.

Angelicdevil

Agree with lessonlearned.

The 1 bed flats in my area get snapped up within a couple of weeks. Very desirable location, larger than average flats.

sinbad182

1 bed flat in a good area of London will go super quick.

So will a 2 bed in a good, but not quite as good area.

Weigh up what your priority is (space/location) and buy what's best for you.

newbian

londonman81 wrote: »

I have a decision to make between purchasing a one bedroom flat in a very nice area versus a two bedroom flat in a less nice (albeit still OK) area.

I'm keen to ensure that I have the largest possible pool of people for resale purposes, even though that may be 5+ years away.

In general, is it easier to sell a one bedroom flat or a two bedroom flat. Are they vastly different markets? Does one have any big advantage/disadvantage versus the other?

Thank you

Obviously you will have a larger pool for resale with a 2 bed - single people who want a guest room, couples with/without children, sharers, BTL landlords, older couples downsizing who want a guestroom for their kids/grandkids, etc.

It also depends on your circumstances. I know quite a few couples who owned 1 beds and ended up in a stressful situation when kids arrived - in one case both husband and wife were trying to shift their 1 beds to pay for a family home with baby on the way. My old neighbours ended up renting out their 1 bed as they were unhappy with offers received - the wife turned out to be pregnant with twins and they all shared a 1 bed flat for months after they were born while it was on the market. They were totally miserable. And this was central London in an area very popular with City workers.

If I could afford a 2 bed, as long as the area wasn't literally dangerous, I would take it over a 1 bed any day.