What are your thoughts on purchasing Flats vs Houses these days?

lookstraightahead

Scotbot said:

lookstraightahead said:

Re noise. In my experience flats have living noise, but depending on the block (eg if there's only a few apartments) I did it's minimal.

on the other hand, the experiences I have found with house noise are:

Other people doing up their houses - if houses are quite old virtually all the time
People pulling up on their driveways
main roads 
garden parties
The (naturally) noise from children and pets

So it depends what type of noise affects you.

Indeed. Outside noise doesn't bother me as good double glazing minimises it and it is rare that it happens late at night but party wall noise drives me insane. You can get antisocial neighbours in a house or flat but the noise is more bearable  in a detached house

I have to live somewhere where I can have windows open all year round (even in the snow) So anything outside that makes a noise at night is a no no. On the other hand, I've lived in flats and semis with noisy (though not antisocial) neighbours and slept like a baby.
the worst place I lived was a house on a busy main road and that was a living hell 🤣

Crashy_Time

rexmedorum said:

Crashy_Time said:

rexmedorum said:

Crashy_Time said:

hazyjo said:

Not everyone can afford a house either. Many of us start off with flats, so of course there will always be a demand for them.

Not at current prices though......

https://www.plumplot.co.uk/house-prices-by-region.html

Interesting link but can't see what that has to do with any "lack of demand". 

What is your take on "demand" for flats?

None specificaly, not something I have looked into. I'm just pointing out that a particular level of all house prices is not an indication of demand for one specific type (just flats).

Having said that you would thing the ongoing issues must have an effect. I certainly wouldn't buy one right now! Although I'd happily rent one (if I was to look at renting).

The point I was making was about level of sales not prices, prices are in a massive bubble and sales are way down, but yes you are right we can`t read into that basic statistic demand for one specific type of property over another, I would just read it as people moving around less, many people will probably find that their "starter" home that they put all their savings and borrowed family money into will become their "forever" home in the present market mess.

Doc_N

Flats are fine if that's all you can afford, but if you can possibly stretch to a house you'll probably save yourself the huge cost of a further move when you need an extra bedroom.

You'll also avoid the problem that flats are much more difficult to sell than houses.  Partly for the reason above, and partly because their reputation is so tarnished now that large numbers of buyers simply won't touch them any more.

Crashy_Time

Doc_N said:

Flats are fine if that's all you can afford, but if you can possibly stretch to a house you'll probably save yourself the huge cost of a further move when you need an extra bedroom.

You'll also avoid the problem that flats are much more difficult to sell than houses.  Partly for the reason above, and partly because their reputation is so tarnished now that large numbers of buyers simply won't touch them any more.

Large numbers of buyers can`t afford houses though, so basically flat AND house prices need to crash?

[Deleted User]

Obviously we do need a massive house price crash, but in the mean time flats have a major issue: cladding and fire safety.

Until that gets sorted out buying a flat risks massive bills, possibly more than the flat is worth.

hazyjo

[Deleted User] said:

Obviously we do need a massive house price crash, but in the mean time flats have a major issue: cladding and fire safety.

Until that gets sorted out buying a flat risks massive bills, possibly more than the flat is worth.

But those buying them now will know what they're getting. It's those that bought before that have been affected.

Rosa_Damascena

lookstraightahead said:

Gavin83 said:

There is nothing that could convince me to buy a flat at the moment. I’d happily rent one but there are far too many issues to buy.

I agree with this.
i actually prefer living in a flat to a house.
I bought this year and the choice in our budget what a huge apartment in a beautiful old Victorian house, truly stunning. Or an average sized old house - lovely but not as big or as grand. We went for the house because of the current risks and the leasehold issues. Shame because there's lots to be said about apartment living.

Although I can see the attraction, nothing would persuade me to enter into a communal living arrangement. I want to be able to close my own front door on hassle and have full control over my budget.

If you can afford a house, always a house.

Tygawudz

Until leasehold is abolished avoid or you will become a slave to a landlord and his corrupt,incompetent management team until they drain you financially!
YOU HAVE BEEN WARNED!!!

lookstraightahead

Rosa_Damascena said:

lookstraightahead said:

Gavin83 said:

There is nothing that could convince me to buy a flat at the moment. I’d happily rent one but there are far too many issues to buy.

I agree with this.
i actually prefer living in a flat to a house.
I bought this year and the choice in our budget what a huge apartment in a beautiful old Victorian house, truly stunning. Or an average sized old house - lovely but not as big or as grand. We went for the house because of the current risks and the leasehold issues. Shame because there's lots to be said about apartment living.

Although I can see the attraction, nothing would persuade me to enter into a communal living arrangement. I want to be able to close my own front door on hassle and have full control over my budget.

If you can afford a house, always a house.

As I said yes having freehold gives you more financial peace of mind / control, although we all take risks with our neighbours otherwise. 

gab3x

Well I have some strong feelings on this subject...

• I would never enter into a leasehold agreement again. it is an antiquated feudal system in which you as a lessee do not own property and if you fail to comply with terms of your lease you can lose it and all the money you invested in it. Don't think this does not happen! (freeholds are still leaseholds, problems still arise as long as you're dependent on actions of others)
• Furthermore, your freeholder has very few legally enforceable obligations towards you so when you need something from them you have to pray that they do it and do it in time, and you'll fork out $$$ for it.As an example try selling your flat without freeholder form - you won't be able to and if your freeholder cannot or won't fill that out then you have no way or forcing them to other than taking them to court. 
• Soundproofing in UK is terrible to non-existent irrespective of price point. My friend lives in the very luxurious Battersea Power Station and can hear all of his neighbours thru walls + the train, every train. Yes houses have soundproofing issues too but it's at least limited to one or two sides, in flats it can be 5 sides!
• In a flat you cannot do what you want as you're governed by restrictive covenants - try putting hardwood flooring or owning a pet and then you discover you breached the covenant of your leasehold.
• Houses have costs of upkeep but most London leaseholds will come between £2-6k annual service charge + ground rent. I'm sorry but 2-3 bed houses of any age do not cost that much to upkeep!
• Don't like to upkeep your house garden - get a gardener to help, still cheaper than paying service charges
• When your ceiling floods in a flat you have your neighbours to deal with, they might be annoying or they might not even be there. Yes, they'll pick up the bill but it can be so stressful and painful. In your house - you own the problem and you fix it with your money, in your time and in the way that you want it done.

The only reason in my view to get a flat is if you're living in central London and cannot afford a house or if it is BTL, but even that is a lot of hassle again due to leaseholds.