Expert: Hans Weber, Licensed Broker Associate - 12/9/2006

Question
My husband and myself can not afford a house on Long Island, NY.  We are looking at Condos, (I don't like the idea of a co-op)  We can easily afford a 1 bedroom, or we can streach and get a 2 bedroom.  The 2 bedroom would be further away from work, and we would have to give up some things (Like vacations for a year or two)  Are we better off buying a 1 bedroom (We would pay pretty much the same with that as we do renting) or go for the 2 bedroom?  With the one bedroom we may end up selling in a couple of years.  

Answer
Hi Jade,

Thanks for your question.

What you buy depends on your situation and preferences.  It sounds like you enjoy vacations and fun things so if you don't need the space of the 2 bedroom yet go with one bedroom for now and buy a 2 bedroom when you need it.
Also your commute is a consideration.  How long do you want it to be?

Make a T chart of benefits for the 1 and 2 bedroom units and give each a plus or minus and then add it up and pick it that way.

Let me know.

Hans