Uptown Condo/Townhome: 1 BR vs 2 BR (Howe: to rent, HOA fees, purchasing)

[redhorn]

Howdy!

I will soon be purchasing a condo or townhome in the uptown/oaklawn/deep ellum area and am struggling with whether I should go the 1 bedroom or 2 bedroom route. My budget is capped at roughly 175k. Everyone and their dog tells me two bedroom; however, I can get a much nicer one bedroom in my price range. Due to the glut of young professionals flocking to this area, I'm thinking one bed room may be a better option for me. I will most likely be selling/renting this place within 5 years. Any help is much appreciated!!

[RonnieinDallas]

So many variables, I've been casually looking in the area too. I think a 2 bedroom would probably be easier to sell, but a 1 bedroom is probably easier to rent out.

I would just pick the unit you like best. I've noticed pretty significant differences in HOA fees between various buildings, so that's definitely something to consider. Realtor.com now lists the difference between listing price, and what the place sold for. I've noticed that gap is getting smaller.

[HockDad]

2 bedroom is probably a better "investment", but sometimes you have to invest in yourself, ie, make yourself happy. If you are happier with a one bedroom, I say get it, especially since you don't plan on selling it anytime soon.

[redhorn]

Thanks to you both! The two BRs in my price range are older, lack desirable "flow" from room to room, and are of lesser quality than the one BRs I'm finding. Would love to snatch up a two BR for investment purposes, but the only ones that I've viewed that have any "wow" factor are the one BRs.

[HockDad]

Then go with the wow factor. I have bought several houses because they were the best investments. However, in retrospect, I should have bought a couple of the houses that were lesser investments, but would have made me happier. Also, I lost a couple of houses over a few thousands dollars. In the long run, the little bit of money does not make much of a difference