Is It Smart To Buy A One Bedroom Home in Ontario, CA?

Is It Smart To Buy A One Bedroom Home in Ontario, CA?

As I toured homes with a first time buyer in Ontario, CA recently, she looked at me and posed this question. While this is always going to be a personal decision, my professional opinion on this one is that overall, I would not recommend buying a one bedroom home in Ontario, CA. The main reason is because the home suffers from what is termed functional obsolescence.

Functional obsolescence means that there is a loss in value due to outmoded style of non-usable space. It is wise to consider, however, whether the functional obsolescence is curable or incurable. If there is the capacity to add another bedroom then this could be cured. In the case of the particular home I was standing in, the lot size was quite small. Therefore, while the issue of one bedroom could be cured, that would leave little to no backyard space.

Had this home been located near a vacation spot, a beach, local colleges or any other very desired attraction, my answer would have possibly been yes. A one bedroom home near the beaches of Newport, CA still has the advantage of location that may possibly outweigh the functional obsolescence.

While never a totally simple answer and there are always various factors to consider when evaluating such a decision, in this case I would say its better to think about purchasing a two bedroom Ontario, CA home at a minimum. Many buyers purchase such a home as a way to get into a starter home. My best advice is to carefully evaluate this before buying and make sure it is the right decisoon for you.