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Platinum Lantern

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#1

Is There Any Point Of Getting A 1 Bedroom Luxury Condo?

03-13-2005, 10:39 AM

I'm looking into getting a condo in the Dallas/Fort Worth Area....
See some 1 bedroom condo's going for $110,000....
2 bedrooms are going for around $140,000-$150,000

I'm a young guy
Single with no kids, and don't need a whole lot of space

But a lot of my people are saying there is no point of buying a 1 bed room condo..

Whats Your Input?

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BRISK

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#2

03-13-2005, 10:59 AM

$110,000 is luxury?

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#3

03-13-2005, 10:59 AM

Extra bedroom always makes a great office or workout room until you actually need the space

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#4

03-13-2005, 11:00 AM

i'd think about getting a two bedroom. room, people can stay over, can use as an office, etc.

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#5

03-13-2005, 11:00 AM

i'm in the same boat as PL.. the prices are a bit more here though, 150k+ for 1 br, 180k+ for 2br.. i'd def. rather have the 2br though.

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#6

03-13-2005, 11:05 AM

how much square feet are you getting for 110k in texas?
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#7

03-13-2005, 11:06 AM

at these low interest rates, if you can afford it, Id get the 2 bedroom, it will appreciate faster than a 1 bedroom and you can rent out the 2nd bedroom to help with the mortgage if you dont mind living with someone.
Or use it for storage, an office, workout room, whatever.
And those prices are cheap. 2 bedroom condos are over $350k in my area.

if youre looking at investment condos arent great. singles and multis are way better.
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#8

03-13-2005, 11:14 AM

Originally posted by Platinum Lantern

I'm looking into getting a condo in the Dallas/Fort Worth Area....
See some 1 bedroom condo's going for $110,000....
2 bedrooms are going for around $140,000-$150,000

I'm a young guy
Single with no kids, and don't need a whole lot of space

But a lot of my people are saying there is no point of buying a 1 bed room condo..

Whats Your Input?

Jesus that's cheap. About 1/2 what I paid for a 2 bed in London.

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aflex

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#9

03-13-2005, 11:14 AM

i was interested in this condo for a bit. http://newjersey.foxtons.com/search?...it_type=search

i am holding off though, i'd like a single family house instead.

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#10

03-13-2005, 02:26 PM

Thats cheap. But for resale I would go for at least a 2 bedroom.

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Illicit

wtf ?

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#11

03-13-2005, 02:28 PM

I see luxury condos selling for $500k + in Massachusetts... I would jump all over anything for 100k

Get the extra bed rooms, you wont be single for ever

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#12

03-13-2005, 02:32 PM

jesus, that's cheap.

here in newport beach, you cannot find a 1 bedroom house for less than 700k

1 bedroom condos start around 450k.

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Platinum Lantern

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#13

03-13-2005, 02:50 PM

Originally posted by BRISK

$110,000 is luxury?

It's Texas..
don't get mad at me because property prices are low..

But the luxury prices for a 1 bed room is $400,000 but trust me the ones that are 110,000 are nice too...

Last edited by Platinum Lantern; 03-13-2005, 02:51 PM.

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#14

03-13-2005, 02:56 PM

I've went up to san francisco last week to look at them. Generally 1-2 bedroom luxery condo in Pacific Heights will run you about $1.7
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#15

03-13-2005, 04:22 PM

whoever says not to buy a 1 bedroom is an idiot

if you cant afford a 2B go for the 1B.

its an investment in which youll get back all the money you put into it (mortgage payment ect) unlike renting where your pissing $$ away.

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#16

03-13-2005, 04:23 PM

Originally posted by Ganjasaurus

jesus, that's cheap.

here in newport beach, you cannot find a 1 bedroom house for less than 700k

1 bedroom condos start around 450k.

location location location

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#17

03-13-2005, 04:26 PM

in miami beach and south beach

studio condo's $90 to $100 thousand

thats right ONE room with a small kitchen

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#18

03-13-2005, 04:27 PM

I would imagine the resale value on a 2bd is much better than a 1bd. But as mentioned, the second room could easily be an office or guest room. Set it up as an office and you can start writing off some of your mortgage. Talk to an accountant and I'm almost positive he/she would tell you to get the 2bd. You'll probably save the difference on taxes alone.

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#19

03-13-2005, 04:29 PM

Originally posted by quiet

i'd think about getting a two bedroom. room, people can stay over, can use as an office, etc.

Thats why you get a 1 bedroom so relatives have to stay at a hotel! LOL.
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#20

03-13-2005, 04:33 PM

Originally posted by angelsofporn

I've went up to san francisco last week to look at them. Generally 1-2 bedroom luxery condo in Pacific Heights will run you about $1.7

There are some nice new 2 bedroom townhouses here in Silicon Valley. They might even be 1200 sq. ft. The location kinda sucks being right next to 101 and the sort of in an iffy neighborhood. That is probably why they are only 700-800K.
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Illicit

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#21

03-13-2005, 04:39 PM

Originally posted by Sly

I would imagine the resale value on a 2bd is much better than a 1bd. But as mentioned, the second room could easily be an office or guest room. Set it up as an office and you can start writing off some of your mortgage. Talk to an accountant and I'm almost positive he/she would tell you to get the 2bd. You'll probably save the difference on taxes alone.

Good idea... nothing like claiming business expenses

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#22

03-13-2005, 04:47 PM

Bling factor
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#23

03-13-2005, 04:50 PM

go with the 2 bedroom better investment
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#24

03-13-2005, 04:57 PM

If you can swing it, get a house. A house will have better resale value and more space. Get a 3bed 2 bath somewhere and you shouldn't have a prob selling or renting (if you go that option)
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#25

03-13-2005, 05:03 PM

get a two bedroom.

110k can't even get you a closet in boston.

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#26

03-13-2005, 05:06 PM

How's Shreveport doin, Platinum? I lived there before I moved down here to Costa Rica. Don't miss it one bit
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#27

03-13-2005, 05:15 PM

Originally posted by angelsofporn

I've went up to san francisco last week to look at them. Generally 1-2 bedroom luxery condo in Pacific Heights will run you about $1.7

real estate in cali and new york is getting out of hand
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#28

03-13-2005, 05:17 PM

Boston's Back Bay has some of the most expensive property in the country. All "big city" real estate is out of control right now.

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#29

03-13-2005, 05:18 PM

if that's all you want, then get it. start building some equity.

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#30

03-13-2005, 05:52 PM

Go for the 2 bed room appartment,
higher resale value and tons of other options
you'll feel claustrophobic in a 1 br app. even tho u're single.
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#31

03-13-2005, 05:56 PM

Originally posted by sweetcuties

If you can swing it, get a house. A house will have better resale value and more space. Get a 3bed 2 bath somewhere and you shouldn't have a prob selling or renting (if you go that option)

I was born and raised in a house..
with a BIG front yard, and an even BIGGER backyard...

Cutting the grass.....
in the heat of summer

It's something I don't look forward to doing again...
Like I said I'm a young man 22 years old, not interested in buying a house at this time, I'm a single man, with no children...
To Me A House Is For a Man With a Familia

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#32

03-13-2005, 05:56 PM

1 bedrooms can be hard to sell sometimes. Unless it has an ocean view or a great lake view. So keep that in mind.

If you have the money, I would go 2 bedroom.

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#33

03-13-2005, 05:59 PM

an extra room would always come in handy

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Platinum Lantern

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#34

03-13-2005, 05:59 PM

Originally posted by puravida

How's Shreveport doin, Platinum? I lived there before I moved down here to Costa Rica. Don't miss it one bit

Yes Costa Rica is beautiful...
Shereveport is a completely different kind of place....
it's a smaller BIG CITY atmosphere....

So many nice places to live..
but I only have one body....

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#35

03-13-2005, 06:08 PM

I met a chick on a cruise once from San Fran. Her and her husband have a place right by the zig-zag street and she said they were debating whether to rent it out, quit their jobs, and move to Cabos San Lucas where they could live off the rent. I asked how much she thought they could rent it for, and she said their house would rent for 8k US a month.

Mind you, I visited San Fran a year later with my mother and we drove down that street. I don't think I saw anything worth 8k US a month. I've been told it's not too unreasonable because San Fran is the most expensive city in North America.

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#36

03-13-2005, 06:26 PM

485 sq foot Studio in NY click here to see it $450,000

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#37

03-13-2005, 06:43 PM

Originally posted by Pornwolf

485 sq foot Studio in NY click here to see it $450,000

Nice link, Click on newest listings... fucking unreal! You gotta be a millionaire just to get by in the city, to do it right.

My boy just sent me this http://www.carnegiepark.com/site/ava...ailability.htm
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#38

03-13-2005, 06:50 PM

2 bedroom will sell better down the road
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#39

03-13-2005, 06:52 PM

later when you rent it you'll be happy you have a 2 bedroom.

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#40

03-13-2005, 07:03 PM

Originally posted by sweetcuties

Nice link, Click on newest listings... fucking unreal! You gotta be a millionaire just to get by in the city, to do it right.

My boy just sent me this http://www.carnegiepark.com/site/ava...ailability.htm

There's actually some really good prices on there for 1 bedrooms. As long as you have your mindset to where you don't expect to start at less than $2,500 for a rental or $400k to buy in New York then everything falls into place. You approach making money an entirely different way. I love this city!

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#41

03-13-2005, 08:20 PM

Originally posted by Illicit

I see luxury condos selling for $500k + in Massachusetts... I would jump all over anything for 100k

Get the extra bed rooms, you wont be single for ever

yeah anything here called "luxury" your gonna pay a lot for
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#42

03-13-2005, 08:48 PM

You can never have too many bedrooms. If I had 10 I could find something to do with each and every one.

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#43

03-13-2005, 08:51 PM

I have to have 2 bedrooms min for myself. 1 is for my office.
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#44

03-13-2005, 10:25 PM

2 bedroom for resale value. (don't consider renting it a guaranteed thing, most condos have a board and they have to approve rental canidates)
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#45

03-13-2005, 10:27 PM

Some good advice in this thread, I was looking for a condo in the vegas area
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