House Vs apartment – why should I pay rip-off apartment service charges?

pioneer22

wnoktnwbr wrote: »

Really?

I can understand a family wanting a house, but I'm a single male and absolutely love living in a flat (well, apartment) and would pay more for an apartment than I would a house.

I didn't realise the majority of people disliked them!

Until you want a family and can't sell it.

hodd

Thanks everyone for taking the time to respond.


Another issue I forgot to mention with service charges are having to pay for services you do not use. For example, I know some people living in a ground floor flat whose annual bill includes balcony maintenance. In fact, where I live now has a lift which I rarely use (I am on first floor and not that lazy) but have to pay for.



Nevertheless, Tr1pp makes a valid point about the benefits of service charges, seeing as I would only be at the property a few weeks per year.


A £165K house in this area would also have only one bedroom and would not be much larger inside than an apartment £20K cheaper.

propertyman wrote: »

I would not be buying a lease with 70 years its almost impossible to mortgage and should be worth significantly less than comparable flats with leases of more than 90 years.

Wow. Most apartments I have looked at have had leases of 75 years or less. Without sounding superior or rich (I’m neither), why do people buy such apartments? Most people buy with investment and re-saleability in mind, even as a secondary reason. My question is, maybe leases are often extended and people see a 70-year lease to not be a problem?

Kirri

Tr1pp wrote: »

per month?!

thats insane

No, per year but it was still way over the top - they have now got it down by applying for right to manage but won't give us the difference back on the year it got refunded. Just too much hassle in flats and other people making decisions I'm not happy with. Unfortunately the cheapest small house is approx £200k and I just can't afford that so I'm stuck.

Mobeer

Personally I prefer a flat:
- no maintenance work (no time spent, no cost)
- the ability to lock up and go without worrying
- communal bin stores, so I don't have to mess around on bin-days

SuzieSue

Depending on the area, I think it is sometimes easier to rent a flat than a house eg. if you are looking for young professional tenants.

If you want to rent out to families, then obviously a house would be better.

Bogof_Babe

One advantage of a flat is the obvious one... no stairs! A small house is unlikely to have more than one toilet so either during the day or at night you're going to have to traipse up/down the stairs to use it. If you're young and fit that's probably not an issue, but once the aches and pains set in it's brilliant to live all on one level.

Also some people don't want the hassle of tending a garden, however small.

We have a house and a small "holiday" flat. If I was on my own I would definitely prefer living in a flat, having experienced both. The house is fine now as my OH is fairly fit and does all the maintenance himself, but when he gets too decrepit we might have to at least look for a bungalow. Actually a bungalow would be my ideal.

propertyman

Tr1pp wrote: »

£260 per month?!

thats insane

If you have 24 hour porterage and communal heating and hot water ad other facilities, £260 a month is a snip!

propertyman

Bogof_Babe wrote: »

One advantage of a flat is the obvious one... no stairs!

Until the lift goes out......!

Kirri

propertyman wrote: »

If you have 24 hour porterage and communal heating and hot water ad other facilities, £260 a month is a snip!

I was quoting buildings insurance per year, not maintenance per month, which is on top - just making the point that if badly managed, you can end up paying way over the top on buildings insurance which as a leaseholder you seem to have no say in whatsoever..

Bogof_Babe

propertyman wrote: »

Until the lift goes out......!

Well yes, but even then once you've reached your front door you don't have to tackle any more stairs until you want to go out again. It's such a nuisance having to "pop upstairs for a jumper", and carting laundry up and down is a pain too.

Yep I'm a lazy s0d.