Two bedroom homes appeal to an extremely broad spectrum of buyers, from first time buyers and young couples moving from a flat to their first family house, right through to investors and second home owners. It seems more than any other property type, two bedrooms fit the bill.
“The first request most applicants make is the minimum number of bedrooms they are looking for and that’s often a minimum of two bedrooms even if they are buying on their own,” says Marcel Hoad of Fowlers Estate Agents in Storrington. “We’re also finding people are buying together as sharers and at the other end of the scale, two bedroom properties are popular with downsizers.
“A second bedroom, if not used for sleeping, provides space for a study or just somewhere to store things as most people have a computer and filing, or even work from home,” adds Marcel.
“Two bed terraced cottages are very popular; they’re like hen’s teeth and it’s all down to supply and demand. In the countryside they tend to be on main roads but they have bigger gardens, a lot of character and often the opportunity to modernise.”
Fowlers are marketing Timberlands (£235,000), a two bedroom house which originally had three bedrooms until the owners knocked a wall through to create a larger master bedroom which worked for their lifestyle. The amount of space and the layout arrangement can be more important than the actual number of bedrooms.
For a good retirement property, Marcel recommends a two bedroom bungalow which Fowlers have just taken on as it has recently been reduced to £367,950. Located on the outskirts of Storrington just half a mile from the shops with a neat garden, detached garage and plenty of parking, the bungalow also offers some flexibility in layout.
“While we’ve had predominantly first time buyers looking at a two bedroom modern house with conservatory at £215,000,” reports Marcel, “we’ve also had a couple of investors already looking at a two bedroom flat at £114,950 which is a really good little buy. It would rent out at more than the mortgage payments as the yield is very good.”
Two bedroom properties are equally attractive to both buyers and tenants, especially if the bedrooms are of fairly equal size to make sharing more practical and even more so if there are also two bathrooms.
Richard Town, head of Henry Adams Lettings in Horsham, reports: “Right across the spectrum, and particularly one and two bedrooms, properties are achieving much better rents than historically. We have quite a number of investors looking to buy and although most properties let well at the moment, some will still get a better return than others.”
Henry Adams Lettings are about to launch the 12 new homes on the rental market (six, one bedroom and six, two bedroom homes). “These apartments are in a good location in Blackbridge Lane, Horsham, and are being created to a good standard with the first ones ready in spring,” says Richard. Any would-be tenants should get in touch with Henry Adams Lettings in Carfax to register on the waiting list.
Alex Harvey, head of Henry Adams sales in Horsham, also reports strong sales of two bedroom properties: “We have sold our entire stock of two bedroom properties priced between £140,000 and £250,000, bar one, so this market is going really well especially as investors are more confident in looking for the longer term.
“The choice all depends on the individual’s mindset especially when downsizing” says Alex. “Some buyers are driven purely by budget and look at what’s available in that price range, while others look primarily by size so there can be more variance as to what they end up buying.”
Two of the five luxury apartments have already been reserved prior to completion at 49, Carfax (above NatWest), both of which are two bedrooms, and there are a two more available, plus a one bedroom apartment. “The small development company has taken on board all our suggestions such as engineered oak flooring, which immediately evokes the quality throughout and there is a really good specification which is perfect for downsizers in this central spot.”
One of the substantial two bedroom apartments remaining is priced at £325,000 and the other apartment is a rather palatial 1,614sqft, priced at £425,000. Some four bedroom houses are not as big as this so if it’s generous space rather than numbers of bedrooms you’re after, it could be worth investigating.
Two bedroom homes sell for higher figures still, especially - Henry Adams sold their most expensive two bedroom property last year at Springfield Park House which is understood to have changed hands in excess of £600,000.
Two bedroom homes come in a huge range of style and price ranges, matched by an equally diverse market which explains why they are so perennially popular.