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The 2-bedroom condo has become increasingly popular among first-time home buyers and property investors, surpassing the traditional 1-bedroom unit for new launch projects.
But do you know the key factors that can make or break your purchase of a 2-bedroom condo?
A good unit can dictate the future profitability and exit strategy of your property investment.
In this article, you will learn about the 7 important buying tips and common pitfalls that you should avoid as a first-time home buyer & property investor.
1. How Did 2-Bedroom Condos Become More Popular?
Why the shift in preference toward the 2-bedroom condo? Here are three key reasons:
- Oversupply in the Resale Market: The resale market is flooded with studio units, making them hard to sell due to oversaturated market.
- Versatility of 2-Bedroom Condos: It can comfortably accommodate a small family of three, making it a more practical choice if the initial buy-to-rent investment plan changes over time.
- Rising Prices: As of 2024, 1-bedroom units start at $1.2 million. Why not increase your budget slightly to $1.4 million to get a 2-bedroom unit?
Given these market trends, some developers have started launching their projects with 2-bedroom units as the smallest option, completely omitting 1-bedroom units from their offerings.
One example would be Lentor Mansion by GuocoLand, which sold over 75% on the launch weekend:
“According to GuocoLand, two-bedroom units were the most popular with buyers, with all 214 units snapped up, while 84 percent of the 199 three-bedroom units on offer were sold over the two days. “
2. 7 Essential Buying Tips For 2-Bedroom Condos
Ideally, a decent 2-bedroom condo unit will comprise the following attributes:
2.1 Regular-shaped & well-sized rooms
Generally, most home buyers prefer a squarish layout over an odd-shaped one.
The main reason is that a squarish layout allows for easier furniture placement and maximum space utilization.
Let’s compare the two below:
Both Project A and Project B are situated next to each other, with both asking for the same price range of $1.9 million.
You might wonder: Why can Project B, with a smaller unit size, command a similar price as Project A?
The key difference lies in the layout.
Although Project A has a larger overall square footage, the common room can only fit a single bed due to its odd shape.
In contrast, Project B features a more efficient, squarish layout, allowing both bedrooms to accommodate a king-sized and queen-sized bed, respectively.
To avoid feeling claustrophobic, ensure all the bedrooms are minimally 10sqm (107sqf), able to fit in a queen-sized bed for comfortable living.
2.2 Check for wastage & unusable spaces
A deceptively large 2-bedroom condo unit may appear spacious on paper, but in reality, 15% to 20% of the space can be wasted or unusable for occupants.
Such unit often includes narrow planter boxes, an excessively large balcony, and bay windows, which reduce the actual livable space.
Additionally, be cautious of irregular spaces, excessive air conditioning ledges, stairs, or long corridors before making a purchase decision.
2.3 Prioritize corner units with windows (ventilation)
Windows are not standard features in all 2-bedroom condo units and are typically found only in corner units.
They are important for improved air circulation and ventilation throughout the entire unit, particularly in bathrooms where moisture and humidity can accumulate, leading to moldy ceilings over time.
Having windows is also advantageous for those who enjoy cooking at home, as they allow fumes and greasy air to be expelled from the kitchen.
Another benefit of corner units is the added privacy they offer. With fewer neighbors and visitors passing by your unit, you can enjoy a more secluded living space.
2.4 Full or semi-enclosed kitchens
In an open kitchen layout, it’s best to do only light cooking, as frying or heavy cooking can lead to greasy, sticky floors.
On the other hand, a dedicated cooking area with an enclosed door is ideal for containing fumes and grease, particularly for heavy cooking.
Additionally, this setup helps keep children away from potentially dangerous items like sharp knives and boiling water.
2.5 Multiple Bathrooms
There are two compelling reasons to consider having multiple bathrooms in your unit.
Firstly, and most notably, is the issue of emergencies. Nature’s calls can be unpredictable, and having more than one bathroom can prevent awkward situations.
For instance, imagine both you and your partner needing the bathroom urgently in the morning but only having one available.
Secondly, having multiple bathrooms is essential for accommodating guests. When hosting dinners or gatherings, a single bathroom may not be sufficient, leading to inconvenience for both you and your guests.
Likewise, when you decide to sell your unit, potential buyers will also consider the number of bathrooms available. The same issues of emergencies and guest accommodation will be on their minds.
If your unit has multiple bathrooms, it can be a strong selling point, potentially making it easier to sell in the future.
Buyers may be more inclined to purchase a unit that offers convenience and practicality, especially when it comes to daily living and hosting guests.
2.6 Regular unit over penthouse unit
Choosing a regular unit over a penthouse unit has several benefits:
Firstly, regular units avoid the premium price associated with penthouse units, which often include paying for extra void spaces that can’t be utilized.
Unless you intend to build a mezzanine loft, these spaces are often more about luxury than practicality, leading to unnecessary expenses.
Secondly, regular units are less exposed to direct sunlight and heatwaves compared to penthouse units, which are typically on the top floor. This can result in a more comfortable living environment and lower cooling costs.
Lastly, penthouses may require more maintenance due to their exposure to the elements and high ceilings. Regular units are generally easier and more cost-effective to maintain.
2.7 6xx – 7xx square feet is the optimal size
A well-sized 2-bedroom condo unit within 6xx to 7xx square feet is considered palatable—neither too small to feel suffocating nor excessively large like a duplex or penthouse unit over 1,100 square feet, where the price starts to become out of reach for most buyers; harder to exit in the future.
3. Example Of Good 2-Bedroom Condo Units
4. Example Of “Less-Ideal” 2-Bedroom Condo Units
5. In A Nutshell
Whether you are buying a 2-bedroom condo for own stay or investment, following these seven essential tips will ensure both practicality and comfort, making it a sound choice for you bucks.
Remember the perfect unit does not exist in reality. As long as a unit checked 80% of the boxes, it would be worth considering.
Need help in selecting your dream 2-bedroom condo unit? Feel free to contact me now!
