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Answers (12)
- Aida Hasanbegovic, "AidaH11"
- Contributions:10
Review Resale Certificate, before you buying. Some HOA are in trouble, and very important, FHA approval. Most buyers using this kind of financing.
- Ben Kakimoto, "TheSeattleCondoBlog"
- Contributions:105
I'd recommend the two-bedroom as well. Like Sam mentioned it'll appeal to a larger base of buyers, though it may dissuade price sensitive buyers. If affordability is an issue, go with the one-bedroom. Don't over extend yourself on a condo purchase.
- Ryan Halset, "RyanHalset"
- Contributions:730
Two bedroom is far more desirable for selling (or renting) down the road.
For yourself, you can think about it this way:
At a 5% interest rate, you'll be paying an extra $107 per month for the 2nd bedroom (if it's $20k more) - plus any increased homeowner dues, taxes & insurance.
Just another way to think about it...
For yourself, you can think about it this way:
At a 5% interest rate, you'll be paying an extra $107 per month for the 2nd bedroom (if it's $20k more) - plus any increased homeowner dues, taxes & insurance.
Just another way to think about it...
- Sam DeBord, "SeattleHome.com"
- Contributions:3472
Two bedrooms will always have a larger potential buyer pool. If you can afford it comfortably, buy a two bedroom.
- James Callas, "ABBAUSA"
- Contributions:960
Two Bedroom without a doubt, but make sure at least one bedroom is on the first floor if more than a single story. Early condos in our area have two bedrooms up. Not the best arrangement. 2 bedroom 1up 1 down.
- L.A Realtor1
- Contributions:3
I think although it does depend on what is popular in your area, the 2 bedroom is the better investment just because most people want to have an extra room even if they dont have children to occupy it. Professionals like to have office space and there are more people working from home then ever now. If you wanted to keep the condo as a rental later until you could turn it for a nice profit, 1 bedrooms are not very popular in rentals anymore. Not only am I a sales agent but I also Manage investment homes so I have seen the difference. I would also suggest getting it with 2bathrooms. They are just more appealing to people. In the long run this will pay off better then a 1 bedroom. Good luck.
- Mary Lockman, "Mary Lockman"
- Contributions:21
That depends on the price of the second bedroom and what is typical for your area. In my area there are no condos with just 1 bath and 1 or 2 bedrooms but I have a 3 bd 2bth condo, 1,495 sq ft, covered deck, garage, high end construction, stone fireplace and on and on for $199K
It is priced to steal.
- Mary Lockman, "Mary Lockman"
- Contributions:21
It depends on what the price of the second bedroom will be and what is typical for your area. IN our area 1bed 1bath takes a huge hit in price and there is no such thing as a 1 bed 1 bath condo nor a 2 bd 1 bath. I have a 3 bd 2.25 bath condo though for 199K. It is a steal.
- Tonya Brobeck, "Tonya Brobeck"
- Contributions:637
2 Bedroom for sure! Easier to resell and to occupy if you ever want to turn it into a rental while you build up equity
- SoCal_Engr
- Contributions:5667
Two bedrooms providedes more flexibility. The extra bedroom can be used for a roommate, or it could be used as an office. The only downside would be if the second bedroom is so small as to be almost unusable as anything but an office/study.
- Mari Suzara, "Mari Suzara"
- Contributions:22
It would be helpful to study the demographics of your area to make the best decision: Is this area primary couples or families? How many of each type of unit are being built by the devloper? Look at sales statistics in the area over the past several years to determine if one type has sold considerably more than others. What are the ages of residents in the development? Young couples? Retired? Etc. This website and Trulia.com can give you some information, but a good Realtor may be your best resource.
Mari Suzara
Elaine Brabham & Associates
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Mari Suzara
Elaine Brabham & Associates
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- wetdawgs
- Contributions:26854
Two bedrooms are more desirable than one, and that may affect your resale.
I would never suggest a condo as "an investment". Prices tend to fall faster than other properties. At the moment, you will be very lucky if you can keep up with inflation even before considering the costs of selling.
I would never suggest a condo as "an investment". Prices tend to fall faster than other properties. At the moment, you will be very lucky if you can keep up with inflation even before considering the costs of selling.
Would a 1 bedroom/1bath or 2 bedroom/1 bath condo be the better investment?
Are there any "general rules" regarding condo purchases as investments? The condo is in South King Co, south of Seattle, with easy access to I5, and 405. They are also near a large shopping area (Southcenter) and the airport, however they are not in the flight path.
I am leaning towards the one bedroom one bath for the simple sake of money etc, but I want to make sure I would be able to sell it later. Any advice?
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