House or Flat a straight forward choice?

Although every investment should be assessed on its own particular merits some fundamental things need to be considered when deciding which is best house or flat.

Flats appear to be more popular with the mobile population of many inner city locations. Young professionals need the ease and flexibility provided by a flat.

Some enjoy the status symbol of the chic and fashionable style that a modern flat gives the occupier.  Others just like the freedom to socialise in close proximity to all the ‘in places’. So space becomes irrelevant and less is a sometimes a preferable option for busy young professionals.

Houses on the other hand gain in popularity out of city centres and important elements of more living space and garden become important, more so for couples who maybe considering a family.  Others want to live in entirely in their own space without having to take account or be irritated by those living above or below them.

Supply and demand

Developers build more flats because they are more popular and profitable.  Your local estate agent David Jordan Estate Agents is able to give you all the information you need of the availability and how prolific flats are in the areas you are considering.    

Gone are the days when a flat was less than that of a house.  Style size and location are now prime valuation factors and more so within inner city boundaries.  Fashionable high rises and fashionable conversions outclass and in some cases out cost many of the more traditional family houses.

Bear in mind with a ground floor flat that while you may pay 20 per cent less than those on upper floors they are perceived as less secure. If you were considering a buy to let investment it can be more difficult to let. 

Flats in the main are leasehold and can prohibit letting and if buying a flat the leasehold restrictions should be fully investigated at the outset.  Houses are largely freehold and so don’t come with the same restrictions.

Is it just about cost!

Today lifestyle, age and mobility are all primary factors that can influence decisions about buying or renting a house or flat. There is considerable narrowing margin when it comes to the financial factor that flats are always the cheaper alternative to houses. 

And don’t forget throughout the journey David Jordan Estate Agents will be with you every step of the way offering their years of expertise to guide you along the way.

Call us or email us using the details on our website:  www.DavidJordan.co.uk

T:    01323 898414