I've got enough money for a tsudio flat, but instinct tells me it would be a better idea to strech myself and get a 1-bed flat as they are a better investment. Is that true?
Areas in which I'm looking at include S. London (Croydon, Norwood) and SE London (Penge, Sydenham).
Generally (as I have been told by local EAs) studios are more difficult to sell than one bed flats.
The same is true for flats above commercial premises. Also, mortgage providers are more reluctant to lend.
Purely from an investment point of view, both kinds of properties can achieve a reasonable renting yield because their purchase price is relatively low.
I looked at studio flats a few years back when I had to start all over again following a seperation, to be honest they were not my cup of tea, they reminded me of bedsit land.
I stretched myself and bought a run down 2 bed end terrace for the same price as a lovely looking studio flat in a nice area. Not sure if that is possible these days as BTL wasn't as popular those days.
I think that during "the good times" a studio would sell fine. But in a slow market people are more fussy and you could have a problem. If a sudio is what you can afford, I'd say go for it. But if there is any way you can get a one bed flat, I'd really try and stretch to it. It'll be nicer to live in, and you'll get your money back when you sell. Having said that - my brother lived with his partner and a small child for a while in a studio!
It depends on what you are looking for - lifestyle or investment.
Like for like, most would take the one-bed.
But I'd take a studio in a nice area above a one-bed in a less nice one, any day. You still have to live in it after all .
I know several long-term studio dwellers in London and they all enjoy it. They've traded great locations for living space . And they often like the "cocoon" of a small space.
Is there anyway you could change the layout to a one bed? I've often wondered why they all seem to be lounge/bedroon with separate bathroom and kitchen when I would have thought, lounge/kitchen as one room and bedroom with bathroom off it would be a better use of the space. J
Originally posted by bigmoney2: Is there anyway you could change the layout to a one bed? I've often wondered why they all seem to be lounge/bedroon with separate bathroom and kitchen when I would have thought, lounge/kitchen as one room and bedroom with bathroom off it would be a better use of the space. J
Most, if not all studios around here do have the kitchen area in the one living space. So no 'room to move' really. If there was, they would probably have been turned into one bed flats.
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