Why would a one-bedroom and three-bedroom flat be priced similarly?

[anchoviesgrossmeout]

I'm in Edinburgh and there are two properties for sale very near each other.

Both £310k ish

They have the same finish which is very basic student feel.

But the same square footage. The three bed has all small rooms and the 1 bed has all big rooms.

Even though it's the same size it doesn't make sense to me that they're the same value, surely everyone values extra bedrooms over spacious rooms to some extent?

Does this make sense? It makes the 1 bed look very expensive and the 3 bed a bargain

Are they all valued on finish and square footage or do number of rooms factor in?

The length of the lease could be a factor or maybe one vendor just needs to sell very quickly. General state of repair, availability of parking. There could be lots of reasons.

Personally I'd value spacious rooms over extra bedrooms - there's nothing worse (to me) than a house or flat where everything feels crammed in. For a flat, which is unlikely to be a family home, certainly long term, I expect the market for 3 bed ones is pretty small to start with. Add small rooms into that and in order to sell it'd have to be cheap, relatively.

Yes lots of different factors at play. Also, I don’t think it’s necessarily true that the market values multiple small rooms more than fewer large rooms.

Maybe the 3 bed has been refused HMO licence?

Maybe the 3 bed has been refused HMO licence?

Leasehold is not a thing in Scotland.

@anchoviesgrossmeout Could be one person is not realistic on their price. But also Edinburgh is just weird and a tiny difference in distance could mean a different price.

In Edinburgh lots of families start in 1-3 bed homes as if you want to be in the city centre that's what is affordable. I am looking for my next home which is suitable for a baby. I think because we both work from home a one bed would feel tiny even for just us two let alone a kid or two.

I’d say choose what works for you now and for a good few years. Have half an eye on resale but a home is a home ahead of an investment.

Could be location as well? Or the 1 bed might have access to a shared garden or extra storage or something.

It is a peculiarly British thing to count the number of bedrooms and come up with a price. Most countries calculate on price per square metre. So it would make sense to charge the same for a similar size.