One-bed v two-bed apartment

hession.law

Hi, I am looking to buy a place in Dublin city centre, I am wondering for reselling purposes what is the demand like for either? I would prefer a one br but if I may have trouble reselling due to lack of demand I would go with a two br. Leaving aside the fact that the property market is unpredictable in relation to price etc. does anyone know what this demand is at present, are two br easier to resell? Positive opinions welcomed.

ted1

a 1 bed has no resell value, a 2 bed would.

Victor

It might be impossible to get a mortgage for a one-bed.

johnnyskeleton

ted1 wrote: »

a 1 bed has no resell value, a 2 bed would.

I never really understood this assertion. If it has no resale value you should be able to pick one up very cheaply.

gurramok

Alot of 1beds are tiny but some are quite large(the properly built ones). Also 1beds are for single people so prices should reflect that.

ted1

johnnyskeleton wrote: »

ted1 wrote: »

a 1 bed has no resell value, a 2 bed would.

I never really understood this assertion. If it has no resale value you should be able to pick one up very cheaply.

The living space is designed for one person ans as such us small, it doesn't suit anyone with a kid or planning to rent a room out. No one trades up to a one bed. I lived in a 1 bed with the misses and it was horrible no place other than bedroom or living place to put things like a clothes horse. You
They are cheap but not cheap enough as owners are in negative equity and banks won't allow people to sell.

L1011

johnnyskeleton wrote: »

I never really understood this assertion. If it has no resale value you should be able to pick one up very cheaply.

You can pick one up very cheaply - http://www.daft.ie/searchsale.daft?id=602537 for instance, not even an auction. There's 68 on Daft in "Dublin City" (seems Mulhuddart and Tallaght are in the city in estate agents eyes) with asking prices 100k or less and bear in mind that on a property where mortgage credit is basically unavailable you'll not be paying close to asking.

engineermike

I have to say OP - I never understood one bed apartments or houses, in city center locations. I had assumed they are generally bought as a second home for someone that doesn't want to commute to the city during the week.

When you have to live in it full time, its not a comfortable proposition unless its a unusually large 1 bed, and even then are you never going to have anyone over to stay - family / frnds etc. ?
I have inspected countless apartments in Dublin and across the country and some of the little tricks employed by developers to make the show homes 'seem' more spacious - 4ft double beds, 2 and a half seater couches to name but a few are really going to bite you and restrict your own living space when you go to furnish it and live in it.

My daughter is off to college in Sept. and I am actively searching for an apartment to negate renting one for her while she is enrolled, doubles up as an investment and somewhere for me & mum to stay when we are in town. However I completely ruled out a one bed as It would be too unmarketable if and when I wanted to sell, market demand- market price for one bed is always low and restrictive for a myriad of reasons.
mike f

matrim

engineermike wrote: »

I have to say OP - I never understood one bed apartments or houses, in city center locations. I had assumed they are generally bought as a second home for someone that doesn't want to commute to the city during the week.

When you have to live in it full time, its not a comfortable proposition unless its a unusually large 1 bed, and even then are you never going to have anyone over to stay - family / frnds etc. ?
I have inspected countless apartments in Dublin and across the country and some of the little tricks employed by developers to make the show homes 'seem' more spacious - 4ft double beds, 2 and a half seater couches to name but a few are really going to bite you and restrict your own living space when you go to furnish it and live in it.

My daughter is off to college in Sept. and I am actively searching for an apartment to negate renting one for her while she is enrolled, doubles up as an investment and somewhere for me & mum to stay when we are in town. However I completely ruled out a one bed as It would be too unmarketable if and when I wanted to sell, market demand- market price for one bed is always low and restrictive for a myriad of reasons.
mike f

I would assume that most 1 bed apartments would either have been bought by younger people who wanted a central spot and then they hoped to sell it on (i.e. first step on the ladder during the boom) or else used as rental properties.

TBH I've very little problem renting in a one bed with my GF if it's average size. The few hundred a month savings over a 2 bed make it affordable for us to have our own place without sharing and I find it more comfortable to have my own place rather than have to share with randomers. In a lot of apartments the common area of a 2 bed and a 1 bed can be similar. So if you are sharing a 2 bed you end up the the same space but less privacy. So the extra you pay for a 1 bed to yourself is for that privacy.
But even then I'd probably only do it to be in city centre rather than outside the city

I know you're not looking for advice on this but personally I'd say just rent her a room in a house share with other students. Much more sociable and fun at that age.

hession.law

Thanks for all the input, my gut feeling was right, that the market values 2 bed more. I just prefer 1 bed but obviusly it would need to be 600 sq ft minimum. Given the fact for most of my teenage years I spent sharing a 8x8 ft room with my brother that area would be a mansion! I know this is a cliche but I would really only use it for sleeping and entertaining an overnight guest at the weekend, I prefer to be out and about during the day, when I wouldn't be at the office working. Going slightly off topic is it the done thing to make offers to estate agents when viewing a place? I use to buy a fair few cars and my general tactic was to go in at half asking and hope for the best. Would EA just not entertain this or is there some barter?

djimi

If you have no experience of living in either then I would strongly urge you to rent a 1 bedroom apartment before you buy. Aside from the fact that that whatever you buy this year will almost certainly be cheaper next year, it would be a good idea to know what it is like to live in an apartment before committing to buy something that you will probably have some difficulty in selling if needs be.

engineermike

djimi wrote: »

If you have no experience of living in either then I would strongly urge you to rent a 1 bedroom apartment before you buy. Aside from the fact that that whatever you buy this year will almost certainly be cheaper next year, it would be a good idea to know what it is like to live in an apartment before committing to buy something that you will probably have some difficulty in selling if needs be.

Dependent on where your trying to buy - the poster's idea has some merit - a year in an apartment you think you might like will allow you time to see the foot of the market. However if it is in an area with normally high demand the price may be soon turning.
However apartment living has complications in itself these days with under funded management companies and poorly maintained common areas.

As for making an offer on the property - I'd be more inclined to weigh up my options and when you've worked out all the factors that concern you as a buyer - then make an offer either on the phone or in person, doesn't take long if you feel your making the rite decision, have found a home you like and to recheck your sums - and have a quick peek at what else is on offer in the locality. You just don't want to seem to eagar, its the vendors that are eager these days.
For an example - priory hall, belmayne and numerous other apartment blocks built in Ireland during the boom are seriously lacking and can leave you with a bitter pill to swallow at some point in the furture, some ground research and due diligence may save you a lot of heartache down the line.
mike f

ProudDUB

djimi wrote: »

If you have no experience of living in either then I would strongly urge you to rent a 1 bedroom apartment before you buy. Aside from the fact that that whatever you buy this year will almost certainly be cheaper next year, it would be a good idea to know what it is like to live in an apartment before committing to buy something that you will probably have some difficulty in selling if needs be.

I agree with this 110%

OP, you may have spent your teenage years sharing a small room with a sibling. But I presume that was in a house with a garage, an attic, front and back gardens with perhaps a shed in the back garden, a hall cupboard to put bulky coats and big things, 3 bedrooms with wardrobes in every one, a hot press or airing cupboard, a proper kitchen with floor to ceiling cupboards to store ironing boards, hoovers etc etc. You didn't have to worry about where anything was stored, other than your own clothes and toys.

In an one bedroom apt, you will have none of those things. Storage is an absolute nightmare. Where will you store big, bulky things like suitcases, bikes, tools, sports equipment and whatnot? You only realize how much crap you have until you have no where to put it. And this is crap that as an adult you actually need. Where will you put a close horse so you can dry clothes? Where will you store bulky things? Your clothes and shoes will go into your wardrobe, and there is only so much you can store under a bed. The bedrooms in one bed apts are tiny so you aren't going to be putting anything much in there.

So I agree with others, rent a one bedroom apt. See how it suits you and your life and lifestyle and the things that you own. If it does, that's great. Odds are you'll think it is a complete pain in the you know what.

riclad

THERES 2bed s going for 120k , so the very worst buy at the moment
is a 1bed, at some point nama will start selling them.YOU could buy an old house for 100 k, and you have a parking space.

the_syco

engineermike wrote: »

My daughter is off to college in Sept.

Throw her into a house with other 1st year students near the campus if she's a first year student as she'll enjoy college life a bit better. Next year, sure, do the whole buy a place thing, but college is generally a culture shock, as is living with other people.

It's also great fun.

Year two and onwards is when you want to buy the place. That, and you don't want the pressure of "we bought the house" on her shoulders if she decides two months in that the course is hell.

amtc

i have a two bed duplex at 890 sq feet, with a communal storage shed. It's spacious enough with only me there. my best friend has a one bedroom apartment and literally it is ok for a bolt hole. He has suitcases etc in my shed as they just won't fit in his. his ironing board is under the bed etc, whereas mine is more like a house with proper storage. I have ten wardrobes, he has two.

would always go for a two bed.

ted1

With a 2 bed your daughter can rent the second room to a friend. That way she won't be lonely. I wouldn't want my daughter living alone when she is at college.

who_ru

sound proofing as much as size is a factor for me. the thought of hearing couples doing the naughty, or screaming their heads off fighting, or kids screaming, or party heads with their 'chunes' blaring out are simply too much for me to bear. and with almost all apts i've experienced in Ireland, sound proofing is practically not even there, even though the apt spec complies with regulations.

Kaner2004

1 beds are the best for renting out. Low kit out, decoration, maintenance, service charges etc. Easier to let. And a much better return on rent. You can easily get a 10% yield on 1 bed apartments now.

Buying as an investment - definitely.
But buying to live in for the rest of your life - i wouldnt.

hession.law

OK its definitely a two bed for buying. I seen a nice duplex 1 bed but I read online that there has been multiple car break ins, loud parties etc continuously over a no of years at this complex, so I guess renting a place out for a bit would a good idea

riclad

Look on daft ie, unless you want to live in a posh area, theres 2beds going for 120k, even some with shared parking, no extra charge for parking .I presume you are buying in dublin.
i know some one lived in an an apartment for 5 years, was happy there,there was only 18 units in that block.SOME apartments are just tiny,with little or no sound insulation ,which is important ,if you have some one above ,and below you.