Should I Buy A 2 Bedroom House
The prices vary so greatly by area that an average is useless. Instead of buying a house two sizes too big buy a house that s just the right size with a spare bedroom for visitors or a new addition.
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Our area has almost 6 million people and there are currently only four 2 bedroom houses for sale with the newest being 35 years old.
Should i buy a 2 bedroom house. When your ego clamors to come out take solace in knowing you can afford to buy a much larger house and you don t have to deal with any of the headaches that go along with living in a mansion. Take a rental property that costs 100 000 to buy. Which caps your eventual sales price and hence may limit your eventual capital gain.
Homes with 3 bedrooms and 2 baths tend to appeal to families and to individuals who need to take on roommates. If it s priced right do the 2 bedroom if it suits you. In most areas 2 bedroom houses have not been built for 75 years or longer.
No it s not for everyone but it was great for first time buyers or seniors. Buy a home with a minimum of 3 bedrooms and 2 baths it s not to say that a 2 bedroom home is hard to rent but it is easier to rent a 3 bedroom and the home will command a higher price. Buy too much house on the other hand and you ll be spending more money on maintenance energy and taxes than you should be.
But it is a drawback if you are trying to attract more buyers since many will prefer to have more rooms. On the other hand financing can. More than two bedrooms.
If you do get a lodger the rent is not tax free as someone previously said but you are allowed. I bought and sold a 2 bedroom 1 bath starter home in a popular town and it only took about a month to sell this was in 2001. No a three bedroom is as easy to sell as a two bedroom depending on condition both inside and out.
Two rooms are better than one taj singh from first home buyers australia says there are several advantages to holding out for another bedroom. Banks are geneally conservative about lending for 1 bed apartments esp if less than 50 sq m. A second bedroom is not just about having space either as the extra room can help earn its keep through rent or by making an apartment easier to sell when the time comes to upgrade.
Also as someone who lives in a house that has more rooms than we use daily i have to confirm that just as water will flow to take up all available space so too will junk in a larger house. Ask your bank about their policy on lending for 1 bed apartments. It was actually bought by an investor and is used as a rental.
If almost every home in your neighborhood has only two bedrooms owning a home with fewer than three bedrooms is not necessarily a drawback. With rental income taxes depreciation and income tax the cash buyer could see 9 500 in annual earnings. Or buy a 2 bed apartment in a suburb a bit further out.
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