buying a one bed or a two bed, which would be better?

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legallady

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I am buying an apartment in Dublin city centre, and was wondering if it would be better to buy a one bed, and live there by myself, or pay more for a two bed, and rent the spare room out? do two beds rise more in value? would it be easier to resell? any advise would be greatly appreciated. thanks
 
More advisable (given finances allow) to buy a two bed.

It gives you a wider market when selling and allows you the option to rent a room if your circumstances change.

I guess it comes down to whether you prefer to live by yourself or if you're happy to share (should be taken into account given interest rates projected hikes or changes in your personal circumstances) and whether you're looking at it as your home or an investment opportunity. Also don't forget to take the rent a room scheme into account.
 
well, I dont mind sharing as I have been living in shared rented accomodation for the past 7 years! my parents are going garantor so I reckon I could get a mortgage for more, but Im trying not to borrow so much. Iintend living in the apartment for at least 3 years, so I do want to be able to sell it with a bit of a profit afterwards......
 
In that case as its a short term buy I believe you'd be far better off going with the two bed for re-sale value.

Take into account the extra space you'll need as living with a stranger in a confined space can be strained.

Also maintenance charges for two beds will be higher than a one bed although generally your TRS should cover the majority of this.

You will find lots of info if you do a search on this site as to the pros/cons to be taken into account for re-sale.
 
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