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Buying a one bedroom house
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earthquakebird
Posts: 51 Forumite
I have an offer accepted on a one bedroom house but I am worried that it is a poor investment decision. However, the location is great and it suits my needs at present. In 4-5 years time though, I would expect to move on to a bigger property. There are bigger properties in the area priced only slightly higher, but the competition is very fierce. I feel like if I don't strike now, I might not ever get anything! What are your thoughts?
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Comments
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Things moved quickly then?!
https://forums.moneysavingexpert.com/discussion/comment/74370425#Comment_74370425
My thoughts would be, if you can afford to buy the bigger place now that is likely to prove a better investment decision, but without more info it is impossible to be certain.0 -
If it suits your needs, you like it and it's all you can afford then might as well go for it.
If you can afford a bigger place and want to stay there longer, then go down that route. If not and you're happy to move on after 4-5 years as you say, then the 1-bed should be fine.
All depends on your personal feelings about the property and your future plans really
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It does suit my needs at the moment but I am worried about when I may want to sell in several year's time, I have heard that one bedroom houses are undesirable. This has been evidenced by the house in question being on the market for quite a while!0
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it seems quite unusual to have a one bedroom house but if it is in a good location such a near a town or city centre then there is no reason why is should not re-sell0
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There's a few near where I live. They sell because we don't have much in the way of modern flats so people buy as cheaper. Personally I won't touch them as it would always bug me not to have a spare room/box room/dumping ground etc.
Plus where would the overspill from my wild orgies go?? An answer isn't spam just because you don't like it......0 -
There are some where I live and they seem to take a long long time to sell. I've often wondered who would buy a 1 bed when there are 2 beds and flats in the local area for not much more money.
Can you provide a link to this house? It would be interesting to see where it is situated and how it compares to houses in the area.0
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