Should you buy a one bedroom property?
It’s an interesting question and one maybe someone who is single would ask. I don’t think it’s a very good idea at all. I think one bedroom properties might have some demand as a rental perhaps, but it’ll only be because of cost. Most people aren’t minimalists and have tons of stuff that would completely fill a one bedroom place.
A one bedroom place doesn’t have enough room for anyone else in to stay for more than a day or so on the sofa. If you ever need a lodger then you’d just not have room in a one bedroom property.
If you have relatives to stay then how happy will they be to sleep on a sofa? Even a sofa bed isn’t the best thing in the world as you’ll disturb them staying up late, or getting up early.
If your family expands – you get a partner, and or a child, then you’ll need more room. Babies might be tiny but they take up a lot of space with the things they need.
If you have a hobby that needs room to store something, then a one bedroom flat will quickly become crowded and too small. If you ever decide you want to work from home you might need the space and having a spare room means you can separate out your home and work life which makes for a good balance. Whilst you can stick a computer in the corner of the lounge – or a work table for making things on – you would soon find yourself looking at it all the time when you’re relaxing.
You might argue that a one bedroom place is cheaper than a two, but it’s smaller too! Compare floor size area to get a real comparison.
If you can buy something with more rooms then do so! The resale issue will bring up the same discussion you’re having with yourself – and if prices have dropped you might find the value of your one bedroom property has dropped more than a two bedroom one.