Its the dilemma that everyone has before their baby is born.
A cot is nice and compact, can possibly fit in your room while baby is really small and is likely to be much cheaper than a cot bed. But a cot bed, although more expensive, could be better value as it will convert into a junior bed and can be used up until the age of 3 or 4, depending on the size of your child.
At Safe Dreams we have noticed that more and more parents are going for cot beds. For me personally, it was definitely the best choice as my son has always been a giant for his age and would have been uncomfortable in a cot by the age of 18 months. He was climbing out of his cot bed at around 18 months and I had to convert in into a bed.
However, if you plan on having another baby relatively quickly and your child is not a giant like mine (his dad is 6ft 3), a cot may be a better option as you can get a your toddler a cute little bed (Thomas the Tank Engine, Disney Princess or a little cabin bed) to help ease the turmoil of having a new sibling coming along.
If you are willing to splurge, there are a couple of products which are a good compromise between a cot and a cot bed. The Stokke® Sleepi™ converts from a crib size to a standard cot size and (if you purchase an additional kit) even to a single bed size which they claim can be used up to the age of 10.
The Bloom Alma Papa is cot bed sized but perfect if you are lacking in space; it has wheels which makes it very easy to move from room to room and folds up flat, making it easy to transport.
As you can see from the pictures, the Cot Wrap will fit both of the above cot beds, making them nice and cosy and keeping arms, legs and dummies in the cot where they belong.
Whatever you decide, remember that your baby will be happy wherever he/she sleeps, as long as you are nearby.