Is it better to buy a 1 bed or a 2 bed apartment for the purpose of letting it out?

pitrn

Guys, why everyone prefers 2 bed instead of 1 bed. I was looking to buy a 1 bed for renting out. Do you think, I should go for 2 bed instead of 1 bed. 1 bed would be easier to rent out and low maintenance and also lesser mgmt fees. Are 1 bed difficult to sell?
Also now 1 bed rates are around 125k. Good or bad investment?

djimi

Why do you feel a 1 bed would be easier to rent out?

If I was buying for investment then I would only be looking at 2 beds. Better rental yield (albeit obviously more expensive to buy) and easier to sell on when the time comes. A 1 bed is not going to be that much (if at all) lower maintenance than a 2 bed.

Mrs OBumble

As a tenant, I prefer to be renting a 2br if I can afford it. Even if the 2nd brm stays empty, it's a bit of extra space, and somewhere for guests to stay.

As a landlord, I'd expect potential tenants interested in 1=bed tp be pooer, and thus more likely to fall behind with rent.

lima

Mrs OBumble wrote: »

As a tenant, I prefer to be renting a 2br if I can afford it. Even if the 2nd brm stays empty, it's a bit of extra space, and somewhere for guests to stay.

As a landlord, I'd expect potential tenants interested in 1=bed tp be pooer, and thus more likely to fall behind with rent.

I work for one of the worlds top tech firms (not saying which one!) and we hire loads of people from overseas who are earning 50-70k and are always looking for one bedrooms in Dublin.

Not sure where you got your assumption but from what I see people who rent 1br apartments are far from poor! Hey even I live in one and am in an e85k+ joint salary household!

owenstylie

Yes if it will rent. Well below construction cost

who_ru

Mrs OBumble wrote: »

As a landlord, I'd expect potential tenants interested in 1=bed tp be pooer, and thus more likely to fall behind with rent.

stereotype much?

Santa Cruz

Mrs OBumble wrote: »

As a tenant, I prefer to be renting a 2br if I can afford it. Even if the 2nd brm stays empty, it's a bit of extra space, and somewhere for guests to stay.

As a landlord, I'd expect potential tenants interested in 1=bed tp be pooer, and thus more likely to fall behind with rent.

That dosent make any sense. The average rent for 1 beds in the Dublin 6 area is 950 to 1000. It's nearly impossible to get one now. Such tenants are not poor

johnnyskeleton

Santa Cruz wrote: »

That dosent make any sense. The average rent for 1 beds in the Dublin 6 area is 950 to 1000. It's nearly impossible to get one now. Such tenants are not poor

Em, she didn't say poor, but poorer. Perhaps "less well off" would draw less ire!

dinnyirwin

I started out with houses, then added some 2 bed apartments and then added some 1 bed apartments.
I have a portfolio now that encompasses all three but going forward am only investing in adding 1 bed apartments.
From experience absolutely everything about them is better from my perspective that 2 bed apartments or houses.

Easier to let.
Yield is far superior.
Couples or single people are willing to rent 1 beds. Very few single people want to rent a 2 bed.
Maintenance is a lot less.
I could go on, but I wont bore you.

The only time I would not be interested in a 1 bed apartment is if I was buying somewhere to live. Then the more rooms the better. I just like more space.

pitrn

dinnyirwin wrote: »

I started out with houses, then added some 2 bed apartments and then added some 1 bed apartments.
I have a portfolio now that encompasses all three but going forward am only investing in adding 1 bed apartments.
From experience absolutely everything about them is better from my perspective that 2 bed apartments or houses.

Easier to let.
Yield is far superior.
Couples or single people are willing to rent 1 beds. Very few single people want to rent a 2 bed.
Maintenance is a lot less.
I could go on, but I wont bore you.

The only time I would not be interested in a 1 bed apartment is if I was buying somewhere to live. Then the more rooms the better. I just like more space.

Wow. looks like you own many properties....

Bepolite

Some good advice here but a word of caution: If your research into this extends only to a post on boards I would reconsider property investment. It should not be taken lightly no matter how much every man and his dog seems to be at it. Get proper, sound investment advice.

Santa Cruz

Bepolite wrote: »

Some good advice here but a word of caution: If your research into this extends only to a post on boards I would reconsider property investment. It should not be taken lightly no matter how much every man and his dog seems to be at it. Get proper, sound investment advice.

It's a business and you must know what you are doing, how to assess prospective tenants, know your obligations and tenants rights and obligations.
I think the last 15 years have shown that it is not everyone can be a good landlord and make profit.