Buying a house vs buying a flat - some pros & cons
Nathan Walker, Sales Director, provides a few pros and cons to consider when deciding between buying a house or buying a flat...
Estimated reading time: 7 minutes
Those who are looking to buy a property, especially first-time buyers, often weigh up whether they should buy a house or buy a flat.
There are pros and cons to each decision, so you’ll have to consider which option best meets the needs of your lifestyle. You’ll also have to consider your future and have a plan in place to ensure that the property you purchase makes sense in the years to come.
It doesn’t just come down to the price as houses are not always more expensive than flats. To determine the price of any property many variables come in to play, such as location, size, condition, number of rooms etc.
Some people find it easy to determine whether a house or flat makes sense for them, while other buyers struggle to decide - for all you property-buying struggling deciders out there, let us point out a few of the pros and cons when it comes to buying a house versus buying a flat.
Some pros to choosing to buy a house
1. More control over the property
In the vast majority of cases, buying a house means you’ll also own the freehold to the property, rather than the leasehold that comes with most flats. When you own the freehold to a property you have more control over the things you can do with and to the property. You’ll still have to obtain planning permission from your local authority for certain home improvements, such as certain house extensions and other extensive renovations. However, for all home improvements and works that you need or want to be carried out that doesn’t require planning permission, whether internally or externally, you can do so without the need to obtain formal permission from freeholders of the building - you’ll be the freeholder!
2. Parking is typically a lot easier
With a house you can usually expect it to be a whole lot easier to park your car, as well as the cars of visiting guests. You have the option of searching for a house with a suitable driveway and/or garage or ensuring there is more than enough off-street parking within the immediate vicinity. With a flat, owners often have just one dedicated parking space (which may even come at a one-off or annual cost), and it can sometimes be difficult for visitors of flat owners to easily park nearby. This can be especially true for flats within gated complexes.
3. Ability to have a private garden
It’s not the case for all houses but most do at least come with a private back garden of sorts, and often even a front garden. If outdoor space is important to you, the choice you’ll have with houses will far outweigh the choice you’ll have with flats - which may come with a communal outdoor space in some cases if you’re lucky. If you enjoy gardening, basking in the summer sun in privacy and hosting guests outside, you’ll have the opportunity to gain all of this when buying a house that ticks the garden box.
Some cons to choosing to buy a house
1. Extra responsibility with house ownership
We mentioned owning the freehold as a positive as it provides free reign to make changes, but it also means the homeowner is responsible for the entire upkeep of the house and ensuring it doesn’t fall into disrepair and become a dangerous property. This can mean unexpected costs suddenly crop up for much-needed repairs, whereas maintenance in a flat tends to fall on the freeholders of the building with costs covered through monthly maintenance charges paid by the flat owners so they know what to expect financially.
2. Could be more difficult to let in the future
Should your situation develop into one that sees you wanting to let the property out in the future, you could find it a little more difficult to quickly find suitable tenants compared to finding tenants for a flat. While houses are certainly rented by tenants every single day and rarely stay vacant for too long, it can sometimes mean just a little more patience is required to find a suitable couple or family who are looking for a family-sized house. With that said, houses do often offer a better rental yield return in many cases compared to flats, so owners who are financially sensible can often quickly recoup what they may have paid out in any longer vacant periods.
Read: Check out our handy in-depth buying guide
Some pros to choosing to buy a flat
1. Far less responsibility
Owning a flat will likely mean you own the leasehold to the property, which means someone else owns the building - thereby making that someone else responsible for most maintenance work that needs to be carried out. You’ll still be responsible for the majority of things within the flat, but many external or communal issues that may occur, such as communal drainage problems, the upkeep of communal areas and outdoor spaces, car parks, communal lighting, and sometimes even the removal of waste bins from each floor or a concierge service are all managed by the freeholders and any property management company they put in place. Flat owners still fund all of this through maintenance charges, but it takes the stress away from having to manage everything.
2. Easier to clean and maintain
A flat is usually over one floor and they are usually a lot smaller than houses - not always, as houses and flats come in all different sizes, of course, but usually! This means that most flat owners appreciate how much easier it is to clean and maintain a smaller space. It also eliminates the need to maintain a garden, which can be highly beneficial to those who lead busy lives and don’t have the time or desire to keep on top of an ever-growing lawn.
3. Added security
Although no property is ever 100% immune from crime, flats do offer additional security with coded entrances, flats over several floors, CCTV, gated car parks and complexes, concierge teams, security personnel etc.
Some cons to choosing to buy a flat
1. Extra charges
Flats come with various different charges, many of which are subject to change as and when required by the management company in charge of the complex. There are ground rent charges that are usually paid annually or bi-annually, as well we monthly maintenance charges that that covers the cost of general building repairs and improvements. Some flats also incur additional charges such as fees for parking or for pet ownership, of which most management companies request that owners seek their permission before keeping a pet.
2. Can lack space and privacy
We have touched on the fact that flats come in all different shapes and sizes, but in many cases, flat owners find that they would certainly appreciate just a little extra space. Whether it’s lacking outdoor space in the form of a private garden or lacking indoor space with limited storage or small rooms. Flats are also often built over-looking one another, so even if a flat comes with a balcony they are often within close proximity and view of neighbouring flats. There is also noise pollution to consider as there will be many people living within the complex and they may not all be quite as mindful, considerate or law-abiding as you’d like them to be.
One fact remains, whether you’re buying a house or a flat, it’s still an exciting time!
When deciding whether to choose to buy a house or flat, do consider the amount you want to spend, how long you hope to live there, how much responsibility you’d like, how much outdoor space you’d appreciate, and what your car parking requirements are.
Here at CPS Homes, we have a wealth of experience in helping buyers find the perfect home in Cardiff. From large multi-bedroom family houses to one or two bed flats and studio-apartments, we have what it takes to guide you through the property buying journey. Contact our knowledgeable sales team by calling 02920 668585, e-mailing enquiries@cpshomes.co.uk or by popping into one of our three Cardiff branches.
The information contained within this article was correct at the date of publishing and is not guaranteed to remain correct in the present day.
