Home Buying in Fremont>Question Details

Steve Davis, Renter in Fremont, CA

1 or 2 bedroom in Fremont?

Asked by Steve Davis, Fremont, CA Thu Nov 7, 2013

I am looking to buy my first home in the Fremont, UC, or Newark areas. I know 2 bedrooms resell better than 1 bedrooms, but are 1 bedrooms impossible to resell? Or just a lot harder? Also, if I get a 2 bedroom, obviously a 2/2 is ideal, but is a 2/1 doable? I am a single man and don't need much space at all. Thanks.

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Hello Steve,
That's a great question. 1 bedrooms are not impossible to sell although you are right that they are more difficult to sell and will take a bit longer to sell than a 2 bedroom.

There will always be people that will need to buy a one bedroom mainly for affordability. They are quite a bit less expensive than buying a 2 bedroom as you may already know from your recent searches. A 2 /1 is definitely doable although a 2/2 is as you say "more desirable." It's always nice to have a bedroom with a master bath and a separate bedroom/bath for when you have guests or even just visitors.

It will allow everyone involved more privacy. Of course it will depend on your budget and your needs. If you are a young person who just wants to "own" something right now and all you can afford is a 1bedroom then by all means go for it. It's a start and a great way to become a homeowner with limited funds.
If however you "CAN" afford a 2/1 or even a 2/2, you will definitely be happier with the extra space and you'll be happier when it comes time to sell.

I hope this helps. Call me if you need some help. There are some great condos on the market right now.

510-407-5073. Tina Perez
2 votes Thank Flag Link Thu Nov 7, 2013
Thanks Tina. Great answer. I might just get a 2 bedroom then rent the other room out now and then to AirBnB renters.
Flag Thu Nov 7, 2013
Hi Steve, yes two bedrooms would sell faster than a one but just as you don't need much room there are others who feel the same way. With a 2/2 you would have a bit larger pool of buyers because some times first time buyers are room mates who will go in together on a home and would prefer to each have their own bathroom. But a 2/1 would still sell. Good luck. Feel free to contact me if I can help. ...Dawn
1 vote Thank Flag Link Thu Nov 7, 2013
so it's still safe to buy a 1 bedroom? how much longer do they typically take to sell? im a minimalist when it comes to space and i hate the idea of spending more monthly for a 2nd bedroom i will never use, unless i rent it out to airbnb folks or something?
Flag Thu Nov 7, 2013
Best would be a 2/2 but it really is a matter of what you can afford. You can only do as good as what you can afford. If you can only afford a 1/1 then the other options don't matter much because they aren't a possibility.

Alex Greer
Loan Officer
NMLS #1056079
http://www.TheMortgageOutlet.com

408-352-5147
AGreer@TheMortgageOutlet.com
1 vote Thank Flag Link Thu Nov 7, 2013
My brother is doing the same thing and is basically getting housing for free because the rent covers the mortgage payment
Flag Thu Nov 7, 2013
I might just get a 2 bedroom then rent the other room out now and then to AirBnB renters.
Flag Thu Nov 7, 2013
Then if you can afford it is would be better to go for the 2/2 for comfort and future marketability
Flag Thu Nov 7, 2013
Thanks. I can afford quite a bit. I'll prob PQ for over 700k, but I like to keep my expenses low so I can save and travel. I'd like to keep my final price under 275k.
Flag Thu Nov 7, 2013
As others have said, one bedrm's are not impossible up resell. But location is a big factor.

You need to sit down with your agent or broker and discuss your price range and the is available in that price range.
1 vote Thank Flag Link Thu Nov 7, 2013
Part of the reason 2/2 is 'ideal' is that it is a flexible floor plan and will usually provide a better value than a 1/1; from people that need a home office to people that need the room for a another family member or roommate that can share expenses (& roommates will pay more for a private bath).
1 vote Thank Flag Link Thu Nov 7, 2013
Hi Steve,

I thought you might appreciated some actual research regarding the demand differences of 1/1 Condos versus 2/2 Condo properties in Fremont, Newark and Union City.

Below, I have provided “Supply & Demand” charts for 1/1 and 2/2 Condos) over the course of the last 36 months (Q3 2010 to Q3-2013):

http://docs.Steven-Anthony.com/Condo1-1Fre-New-UC.pdf

http://docs.Steven-Anthony.com/Condo2-2Fre-New-UC.pdf

Spoiler Alert:
2/2 Condos garner ~ 2x the unit sales of 1/1 Condos! In fact, between Q3 2010 to Q3-2013:

1/1 Condo 4Sale units are down 39% and the Sold units are up 16%.
2/2 Condo 4Sale units are down 26% and the Sold units are up 96%.

Now all you really need to do is to figure out which City you should be buying in.

If you lean towards risk aversion I would act before Jan 10, 2014. Here’s why:

"The Top 4 Challenges Buyers & Sellers will face in 2014!"
http://tinyurl.com/lg2n2v5

-Steve
0 votes Thank Flag Link Wed Nov 20, 2013
Hi Steve,

It all depends on your affordability and the community, one bedroom still has its market in these cities. 2/1 certainly is doable.

Have a great home searching!

Gladys,
Home Bay Investments & Loans
510.304.2665
0 votes Thank Flag Link Thu Nov 7, 2013
Hi Steve -

Please feel free to contact me to explore your condo options in Fremont, UC and Newark.

Thanks
Ana Lopez
408.605.6999
ana@reoptions.biz
REoptions.biz
0 votes Thank Flag Link Thu Nov 7, 2013
You didn't even answer my question. You just seem desperate for a client. That's not the way to gain customers.
Flag Thu Nov 7, 2013
I just sold condo to investor in Union city and it was 2/1.It's approximate rent is $1500-$1700 in that area.I am sure it will be +ve cash flow.You can check this link for available homes in Union city & fremont. I hope this helps.Good luck!!!
0 votes Thank Flag Link Thu Nov 7, 2013
Not really an answer.
Flag Thu Nov 7, 2013
Hi steve

as finance stand point its not about 1 bedroom or two, its all about sqft.

Omar Khamisa
Mortgage Loan Manager
Omar@MSJMortgage.com
NMLS#: 369325
Cell: 510-648-5535
Web Reference: http://msjmortgage.com
0 votes Thank Flag Link Thu Nov 7, 2013
I don't even know what you mean here. I have the money. I just wanna know how they compare resell.
Flag Thu Nov 7, 2013
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