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Is it worth buying a two bed over a one bed when buying your first house (in London)?

Asked on Mar 24 2013, Selling in London | Report content

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  • Hi JennyByrne, I would suggest that if you can afford to obtain a mortgage for a two-bedroom house, then it would most definitely be the way to go. A great number of buyers in the last few years have found themselves making a purchase, only to discover down the line that it can be incredibly difficult to move, something they want to do when they start a family, for example. In fact, Lloyds TSB reported recently that more than 60 per cent of first-time owners wanted to move but were finding it hard to do so presently for a number of reasons including the struggle to find a buyer for their own home. So for this reason, and because people are now staying in their properties for far longer, I would suggest that, subject to mortgage approval and checking you can afford it, you should go for the purchase of the two-bedroom house. Many thanks, Scott

    Answered on Mar 25 2013, Report content
  • If there's anywhere that one beds are in demand, it's London. Although people often first look at the number of rooms to guage value it is important that the footprint is suitable for two bedrooms; a two bed layout crammed into a small space is not desirable! Watch out for two beds that are smaller than 650sqft or thereabouts as they will have small rooms, espcially if there's any en-suites!

    Answered on Mar 28 2013, Report content
  • Yes, in my opinion. as a first time buyer it gives you the opportunity to rent a room out if your circumstances change. It might be worth having a look at repossessions if you are looking for a bargain.

    Web reference: http://www.diligentinvestments.com/repossessions/

    Answered on Oct 8 2013, Report content

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