Choice is everything and in the modern real estate market, choice is the one thing that there’s certainly enough of.
If you’re thinking of up or downsizing over the next year, then possibly the biggest challenge you’ll face is deciding on what type of property is going to suit you and your lifestyle.
There are benefits to both apartment living and houses, take a look at our handy guide to both and help make a decision that’s right for you.
Choosing a house
Of course not all houses are the same and there are as many types of housing options as there are types of people and families to buy them.
But whether you’re searching for a cosy cottage, new build or something in between there are some things that all houses have in common.
The greatest plus point of buying a house is generally space and the possibility of having a garden or small yard attached to it. Having one or two floors provides you with more options on where to place family and furniture and makes owning a pet feel a whole lot less crowded.
Perhaps the biggest inconvenience is the cost. Not just the initial layout but also the cost of renovation and bills that go along with owning a larger property. If you own a slightly older house, you’ll know that maintenance is a yearly challenge, whether repairing blown down fence panels or repointing crumbling brickwork a relatively small job can quickly become a drain on your finances.
The cost or heating and running a house is also a factor to bear in mind. Winter bills can be high if your property isn’t adequately insulated and even amenities such as the local property tax bill are sure to be fairly substantial.
When it comes to apartments the choice nowadays is impressive. The modern trend to convert older houses into separate apartments means you’ll find properties with plenty of character during your search if you’re not just looking for a purpose built place, like these luxury SE1 flats.
Clearly, choosing the level you wish to live on has a significant impact on your lifestyle. You might opt for garden-level flat to give your cat or dog space to roam or a top floor penthouse to take advantage of the breathtaking views. Either of these will also make a difference to the cost. Don’t be too quick in ruling out mid-level apartments though. These benefit hugely in terms of insulation during the colder months and are often a little cheaper.
In terms of cons, space is no longer really an issue with so many apartments featuring mezzanine levels and spacious living areas. The one factor that does get overlooked is that of extra charges. These will very much depend on whether you are a freehold or leasehold owner and who else lives in your block. These charges can quickly mount up so it’s worth talking to neighbours about average yearly costs before taking the plunge.
Keep an open mind when on the hunt for your next move and you might be surprised at where your dream home takes you.