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Should I Buy a House or Flat?

Jan 23, 2025
A house or apartment? 6 ways to know which is right for you
There are many factors to consider when you’re hunting for a new home that may affect the type of property you’re looking for. This varies from your budget to the area you want to live in. If you’re unsure whether to buy an apartment or a house, here are six tips to help you decide.

 

1. Think about the area you want to call home

Often, your chosen area will dictate the type of property you buy. If you want to live close to central London in places like the Docklands, Bethnal Green or Tower Bridge, you’ll find more apartments than houses. This is ideal if you want the luxury of having the city’s nightlife on your doorstep or a shorter commute to work. If life outside the city with more open space appeals to you, there’ll likely be more houses available. 

 

2. Look at your budget

Your budget may affect whether you buy a house or an apartment. For example, in London in July 2024, the average price of a terraced house was £574,000, whilst a flat was £431,000. The affordability of a property might dictate the type you choose. 
 

3. Consider your lifestyle 

It’s important to consider your lifestyle when deciding if it’s better to buy an apartment or a house. If you’re single or moving in with your partner, an apartment may be ideal when you’re not looking for a lot of space. Alternatively, if you have kids or are planning to soon, a house might be a better fit. 

 

When you live a hectic lifestyle, balancing work commitments, social plans and a fitness regime, an apartment with a shorter commute and good transport links may be beneficial to you. Opting for an apartment in a complex with a gym could help you fit everything into your schedule. 

 

4. Analyse your day-to-day costs 

Buying somewhere new isn’t just about affording the upfront costs. You’ll need to ensure you can sustain the monthly cost of living there alongside your outgoings, such as your bills or utilities. Choosing an apartment in a new complex could save you money in terms of energy costs due to the building’s energy efficiency. You may find there’s a gym in your chosen apartment block, saving you the monthly membership fees elsewhere and the cost of travel.
 

5. Do you need more space or privacy?

If you prioritise your privacy, a house with a private entrance could be the best option for you. You should also consider the amount of space you want. For example, do you need a room for an office or nursery? An apartment is less likely to fulfil these needs due to the smaller space. 
 

6. Consider maintenance of the property 

A flat is likely to have fewer maintenance responsibilities as the building’s exterior and communal areas will typically be managed by the building association. In contrast, a large home will require upkeep, especially if it has outdoor space, so be sure to consider each property’s responsibilities.

 

Pros and cons of buying a house

Pros Cons
Houses typically offer more space and often include an outdoor garden/lawn.  Maintaining a house requires significant time and effort. 
You can modify your property as you see fit without having to go through building management or a housing association. 
 Houses generally come with higher purchase prices and ongoing costs, including heating and property taxes.
 

Pros and cons of buying a flat

Pros Cons
Good security measures, which often include a concierge or security system. 
 You’re unlikely to have private garden ownership; usually, there’ll be shared outdoor space or a balcony. 
Lower purchase price and smaller downpayment, making it more accessible for first-time buyers or those with smaller budgets. 
 Less privacy and potential noise issues from surrounding neighbours. 

 

Explore our step-by-step guide to buying a house for more information and advice to help you choose your new home. Take a look at our new build homes in London and unique offers to help you become a homeowner. 

 

Call or visit our Sales Advisers today to learn more. 

 

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