For many, your first home will be a flat or apartment as jumping straight into buying or renting a house is a big step and for some just isn’t the best option.
Many people also choose to buy a flat as it suits more with their lifestyle. Flats are a great option for people working and living in the big city, or if you travel a lot for work flats are a perfect choice as there is often no land to maintain and your house can be more secure as it is in a block with other properties.
Although a great option for many there are various things you need to think about and consider when buying a flat. If you’re renting it is probably just a short-term measure and a lot of things will be sorted for you by a landlord, but if you’re buying here’s what you need to think about:
Layout of the Property
Whatever property you’re buying you need to consider the layout of the rooms and whether it suits you but this is particularly important when buying a flat. You don’t have any stairs so all your rooms are in close vicinity of each other and often the spaces can be quite open to limit the number of actual rooms making the properties more affordable. You need to consider whether the layout works for you. If the flat has an open kitchen/dining/living space is that going to be a problem for you or do you like to socialise and that’s a bonus? Is the bathroom positioned well away from the kitchen or would that bother you?
Position of the Flat in the Block
One of the key things you need to take into consideration when choosing a flat is where it is positioned in the block. There are two key things you need to think about with the position of your flat in the block:
- How high up or low down you are in the block
- Whether being at the front or back of the block makes a difference to your view
How Easy It’s Going to be to Move in
Although you’re only going to move in and move out once you still need to consider how easy that is going to be. If you’re looking at a block of flats with tight corridors and narrow door frames and have ideas of getting large pieces of furniture in you might end up disappointed. You need to consider the logistics of moving in and if you’re buying, you’re probably going to be there a while and may want to change your furniture in that time, and if moving in was difficult, you’re going to have that problem all over again.
If you live and work in a city centre and don’t have a car then this isn’t a problem but if you need to park a car at your flat you need to ask the question about parking. Some flat blocks will have a car park and sometimes reserved parking spaces for each resident, in which case you needn’t worry, but if this isn’t the case, you need to consider where you’re going to park and how much it’s going to cost you in tickets or for a permit.
Access to Outdoor Space
For some, outdoor space isn’t a concern as you don’t feel like you’d use it anyway, but for some, having access to an outdoor space at your home is important and in general if you buy a flat you’re compromising your ability to access outdoor space like a garden, so if that is a factor that matters to you, you’ll need to explore your options at prospective properties.
There is often a misconception that buying a flat is drastically cheaper than a house, and in general, the property price is less as the size is smaller and you’re not paying for luxuries such as gardens and driveways but flat prices can still be very high in city centres.
If you’re buying a flat as opposed to renting you’ll still have to pay all the legal and surveyor fees as you would any other property, as well as the additional costs that come with getting a mortgage if that is the route you’re going down.
You have to treat buying a flat as you would any other property, as costs are the same.
We hope this has been helpful if you’re thinking that buying a flat could be the best option for you, we hope you find the perfect property for you.