2 condos, same complex, same sq feet. spacious 1BR, 1BA vs a cramped 2BR, 2 BA. 2BR is priced about 15% higher. Which is better value?
The 1BR will need a little less fix up. I am single, do not have a lot of overnight guests. So I'm thinking I will enjoy the spaciousness of the 1BR. But I move often, and my guess is that the 2BR will have higher/faster resale?
1 month ago
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It depends on the current use of the real estate. If you wan to live in one and rent out the out as income purposes I would get the 2 condos with one bedroom each. If it for me and owner occupant I would get the 2 bedroom for resale value.
Tamara is right. If you can comfortably afford the 1 BR you will probably enjoy it more. HOA fees might even be a bit less. And when you move on, someone just like you who wants to be more comfortable will be interested. Unfortunately, in the current market, that condo will be gone quickly. What is more important is that the HOA is well managed and you know that it is financially secure. Good luck!
Enjoy today, I think you have already answered your own question. There is no crystal ball in real estate so if you are leaning towards the spaciousness of the 1BR then go for it. Life is to short for you not too enjoy yourself today. When the time comes to sell, weather it is a 1BR or 2BR you will sell the property.
At the end of the day the appraisal is based on like properties. It depends on the history of the sales and the information that can be found from the sales history. This shows what a ready willing and able buyer has been paying a ready willing and able seller. If you need assistance determining value a local Realtor can assist. If you do not already have a Realtor I can refer a RE/MAX Agent in your area to assist in a valuation.
I agree 2 bedrooms are faster and easier to sell although you must determine which suits you better. 15% higher seems low and I do not know your area at all. If the extra space is ok and the 2 bed is below market value I would always give more consideration to that. Some areas have a higher single population and a 1 bed and bath sells just as quick.
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