I spent a week in Bungalow one with two of my best friends and we absolutely loved it and were so sad to leave! The bungalow itself is clean, spacious, and well-equipped and its location offers privacy and freedom that you don't or won't necessarily get at the much more expensive resorts. We spent many hours snorkeling in the "backyard" ocean and saw a variety of fish, sea cucumbers, and even a few rays. We also spent many hours in the back patio listening to music, playing cards, reading, eating, and watching the boats go by and the sunset! When we did want or need to venture away from the bungalow, being able to easily and cheaply rent a car from Nir allowed us the feeedom to shop for groceries, go to restaurants, and explore the island.
I highly recommend renting this bungalow if you want to have more space and freedom and spend significatly less than you would for an overwater bungalow at any of the local resorts!