1 Bedroom House New Build - Is It A Bad Idea?

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

2bFrank wrote: »

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.

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.

lincroft1710 wrote: »

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.

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.

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

AdrianC wrote: »

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.

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

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

Penitent wrote: »

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.

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.

lincroft1710 wrote: »

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

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.

mystic_bertie

Penitent wrote: »

This is near the top of your pre-owned budget, but you'd get a hell of a lot more house for your money and it's nearer where you work. Needs cheering up a bit, but nothing major.
http://www.rightmove.co.uk/property-for-sale/property-47906490.html

Again, bit of minor updating needed. The photos are !!!!, but the rooms seem decently proportioned from the text.
http://www.rightmove.co.uk/property-for-sale/property-52451778.html

Way below budget, needs nothing doing. I actually really like this one.
http://www.rightmove.co.uk/property-for-sale/property-52781370.html

Thanks for the links but its tricky for anyone to find me a property if they dont know my requirements, some might say im too fussy. I was living in Scotland up until 2 years ago. I sold a new build 3 bedroom semi (bought 2008) for 125k which was my home survey valuation price. It had a good size front and rear garden and a tarmac driveway for 2 cars, it had about 400 sq/ft top and bottom levels and way bigger than new build today. I did not consider it a big house. The houses are also well spaced out with a 2 driveway width between them. You cant buy a new build that size now in this area, tiny boxes crammed together with no garden.

I have an audi A8 so i need a big parking space on my property, i dont want an allocated parking space or offroad parking that is not part of my garden.

I would like front and rear gardens although i could live without a front garden.

I dont consider a living room of 12 x 12 big enough, even some older buildings in england have tiny living rooms and are crammed together with no parking and nowhere space between the houses.

I want a decent sized bedroom too. 2 or 3 bedroom house is fine.

Garage would be ideal but not essential.

Conservetory not my thing but would be nice to have.

Move in condition or minimal work required.

I dont like Coventry. Like the first white house you linked to. It is on a 4 lane main road. A lot of street you look at using goggle street view shows some right horrible looking streets even though that one house looks ok.

This house i like and meets my needs but Desford is a bit far away and only has one pub. I drove by the house, it looks good and Desford is a good looking villiage. It only has one pub though and not many bigger towns nearby. Leicester is 7 miles away and Desford has no train station so its a bit out the way.

https://www.zoopla.co.uk/for-sale/details/46500813?search_identifier=663f5715a1b82a9d17a9c8feca2a61c4#gidKJbu10TYeYKKh.97

teddysmum

My sister and her husband had a two bedroomed bungalow in which they sacrificed a bedroom to make a dining room, separated off by glass doors.


This property sold very quickly (a few days) to a single lady, but she only needed one bedroom but with everything on one floor.


I imagine that the majority of bungalow seekers are those who are older or whose families have left home, with an eye to the future when no stairs will make life easier.

vicki2221

I have a one bedroom house with large gardens, garage, driveway. I sold if after 1 month (with a little help from MSE forum because my original listing was terrible). The sale fell through a week ago but since then I have had 6 viewings and 4 offers!! It's been in high demand from FTB, even though it is just 1 bed. We were also FTB when we bought it and 1 bed didn't bother us. I think you will be able to sell it on as long as the other benefits of the property, the space etc are communicated well. So if you love it, get it I would say.

Cakeguts

http://www.rightmove.co.uk/property-for-sale/property-63580789.html This is what one bed houses sell for.