If I were to buy a one bedroom house, would it be difficult to resell it?

Asked by Amy Williams, 90016 Fri Jul 17, 2009

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9
Yanni Raz, Mortgage Broker Or Lender, los angeles, CA
Fri Jul 17, 2009
It's always better to have 2 bedrooms in a property you will purchase and its because it will be easier to rent it and also you can charge more from your future tenants.
So I think that if an investor would consider purchasing a real estate he will take this under considiration.

Good luck
Web Reference:  http://homesinsale.com
1 vote
Judith Gotte…, Agent, Los Angeles, CA
Fri Jul 17, 2009
A 1-bedroom house appeals to a limited market segment and therefore it will be more difficult to sell in the future. Perhaps if the lot size is large enough, it could be sold as teardown or for its future development potential. Feel free to contact me with any more questions...

Judith Gottesfeld
310-622-7441
JG4RealEstate@yahoo.com
Web Reference:  http://JG4RealEstate.com
1 vote
Andrew Jones, Agent, Venice Beach, CA
Wed Jul 22, 2009
I agree with pretty much everything that's been said here about the potential value of a one bedroom home. There are upsides and downsides, and absolutely don't underestimate the value of what feels right for you. But I think the first answer from Judith touched on the most important issue. I wouldn't be as worried about small or irreguar homes as I would be about small or irregular lots. The name of the game after all is 'real estate' not 'house.'
0 votes
Diane McDona…, Agent, Los Angeles, CA
Tue Jul 21, 2009
Hi Amy,

I actually bought a one bedroom house over 20 years ago. I listened to the realtor who sold it to me who said it would never appreciate as much as a 2 bedroom house, I couldn't rent out a room if I lost income, etc. etc., then did what felt right.

Today I still have my cute little one bedroom house and I've never regretted my purchase. The house fit my budget, my location requirements, need for privacy and a view, and my sense of funky charm. Over the years I've watched it climb from $83,000 to $175,000, down to $135,000, up to $550,000 and now down to who knows where. But it has always been a source of joy while living in it or great income while renting it out.

Don't always follow the pack and buy what is perceived to be the better investment from the standpoint of having the house with the largest pool of buyers when you want to sell. The important thing to remember is to buy something that fits YOU, now and for as long as you think you'll be in the house.

Best wishes to you in buying that house, one bedroom or two.

Diane McDonald
Keller Williams Realty, Los Feliz
(323)236-4369
dianemcdon@aol.com
DRE Lic. #01019403
0 votes
Reid Kaplan, Agent, Los Angeles, CA
Mon Jul 20, 2009
Hi Amy,
A one bedroom house/condo is going to raise the same questions in another prospective buyer as they raise in you. If you have doubts, there is a good chance buyers in the future will have doubts when you are selling it.

Most importantly, it appeals to a much smaller number of buyers. If the price is right, there will be a buyer, so make sure you get a good deal on the buy side so you can afford to price it well when you sell. One bedrooms do make good rental properties, so perhaps you won't have to sell if you can rent it out for your payments or more. Please let me know if I can be of assistance. Reid@LAHomesExpert.com
Web Reference:  http://www.LAHomesExpert.com
0 votes
Dorene Slavi…, Agent, Torrance, CA
Fri Jul 17, 2009
Dear Amy,
It is hard to sell a one bedroom house or condo. If you are going to buy your best bet is to buy the standard, three bedroom two bath arrangement. It will meet the needs of more families.
0 votes
Muriel Levin, Agent, Beverly Hills, CA
Fri Jul 17, 2009
The same reason why you would buy it applies to the next buyer. People want privacy and independence from HOA fees. A home is a home. Selling has to do with market value and price + location. Enjoy what you are doing and call if you need market statistics in the area.
Muriel Levin, Realtor
Agent immobilier en Californie
MurielLevin@ColdwellBanker.com
Web Reference:  http://www.muriellevin.com
0 votes
Emily Knell, Agent, Huntington Beach, CA
Fri Jul 17, 2009
As far as looking at a 1 bedroom from an investment perspective: It's all relative to what you paid for the property as to whether or not you're getting a good enough return on investment. The person who has a 2b renting it at a higher rate, probably also paid much more for it than they would have with buying a 1b.

emilyknell1@yahoo.com
0 votes
Emily Knell, Agent, Huntington Beach, CA
Fri Jul 17, 2009
A 1 bedroom home works for you, it works for lots of other people too. Not everyone wants or needs a huge house, but they prefer to have something that is their own without all the high HOA fees.

Nothing is ever difficult to sell, so long as you're understanding the comparable sales when you go to sell in the future & are not unreasonable of what the market (or your trusted Realtor) at that time, is telling you the value is.

Of course with lot size & your own budget permitting, adding on a secondary bedroom would help you to make money on this home in the future!

emilyknell1@yahoo.com
0 votes
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