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This is a very common question that crops up on Property Tribes on a regular basis. Of course, there are pros and cons for both houses and flats and, when deciding what property type to invest in, its important to do due diligence in your local area, as it will greatly depend on levels of stock and tenant demand.Local estates and lettings agents are a good source of intel in this regards, as are the property portals where you can search on houses and flats to see how many are for rent in the area.I caught up with renown property developer, John Howard, to get his view on this evergreen question. It is well known that I am not a big fan of flats for investment, so it was good to hear an alternative view from someone of John's vast four decades of experience:
Please share your views on whether flats or houses have worked best for you ...SEE ALSO - Which property type offers the best potential for yield?UP NEXT - Which property type offers the best potential for capital appreciation?DON'T MISS - 10 reasons to buy a house rather than a flatNOW WATCH:
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
It also depends of the type of flat you Buy
I own a few Tynside Flats who have no Landlords or service charges
I think Flats that have a leasehold with service charges are not a great investment
I like the control factor and flats I feel you dont have full control
and with my limited experience I opt for houses now every time
a lot less bother fewer voids and noise issues too
and no service charges
Learn Change and Adapt ?????
All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.
Brilliant thread Vanessa, even though like you said you are bias towards houses over flats it’s great to see you have an open mind and respect other opinions and experiences.Everyone has different views and prefer different types of properties. It’s great to keep it mutual and really looking forward to reading everyone’s comments.
Transparency notice: OneandOnlyPro is a commercial partner of Property Tribes.
erm isn't he selling flats?
Yes, he is, but mostly to FTBs as opposed to investors ...
I was totally against flats, but as I get older I can see the appeal.
No gardens to maintain (when you have several that the tenants don't even thank you for maintaining it gets a bit tiring!)Yes you have a service charge, but if it's sensible then I don't really see a problem if it's factored in.
Share of freehold is the way forward - none of that less than 99 years ticking timebomb malarky!
Often if you want to be in a very popular location then you won't have a choice between buying a flat and a house - it will be a flat or nothing at all.
I like flats in central locations, of course you have to look for ones with sensible service charges and low ground rents, but I thought this was obvious.
I also like that my tenants are not families, less wear and tear.