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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

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Original poster

AIBU to want to buy a flat rather than a house (first-time buyer)

40 replies

TheTimeToChange · 15/05/2018 19:46

Could you all give me some advice please? Am I being really daft?

Say you’re in a position to buy a property in London soon-ish (over the next two to three years).

Do you go for:

A) A flat that’s as central as possible (Zone 2/start of Zone 3)

B) A house near good transport links, but not necessarily in London (ie. in Greater London).

The reasoning behind A) is that it would hopefully be a reasonably quick and easy commute in the morning and convenient for getting around London easily in general, and that I wouldn’t need lots of space anyway (I’m buying alone), so a flat would be okay for the time being.

The reasoning behind B) is that buying a house instead of a flat would save me paying ground rent and service charges, and that I wouldn’t need to worry about leases either.

Thanks!

OP posts:

KirstenRaymonde · 15/05/2018 19:48

Depends how soon you want kids. If you can buy a flat in zone 2, buy that. Buy somewhere that will appreciate in value and you can add value too, there’s plenty of time to move out to the edges (which are very nice btw! My bit at least ) when you need more space.

bilbodog · 15/05/2018 19:50

If you would like to sit in your own garden when the weather is nice then buy a house.

Racecardriver · 15/05/2018 19:51

No point in buying further out. All the negatives of London, crowded, dirty, loud, smelly, general unpleasant. But significantly less of all the lovely cafes, places of cultural interest, random pop ups etc. That make London tolerable. Either buy in a nice party if London or move outside of London bar a reasonably fast train.

KeepServingTheDrinks · 15/05/2018 19:52

Both of those are reasonable reasons. If you can afford central London, you're clearly doing well, so good for you!

The only thing I'd point out is there are a LOT of threads on here from people who live in flats being driven demented by their neighbours. Not necessarily party people, just people walking around or people with young children. It's quite hard to get away from your neighbours when they're literally on top of you and underneath you.

MyDcAreMarvel · 15/05/2018 19:52

Buy a flat, location really is paramount.

Slightlyperturbedowlagain · 15/05/2018 19:54

I would nearly always opt for a house over a flat, no one underneath or above you = 1 less place for noise to come from, plus no maintenance fees/ground rent. It depends on the commute and the relative state of the properties as well though.

Mycatsarebetterthanyours · 15/05/2018 19:54

As a property manager by trade I would say to buy a house and avoid leasehold like the plague.

Being a leaseholder is just long term renting as a lease is basically a rental agreement for the space/property but for tens or hundreds of years and even if you own a share of the freehold you're liable for service charges and cyclical maintenance charges that, depending on the property, can be astronomical but you're legally required to pay.

In addition, communal living isn't all that fun. I know I will have seen and heard some horror stories because of my job that you may not ever encounter in a lifetime but I just wouldn't risk some of the shit that people have to put up with when they live in a block of flats.

hibbledibble · 15/05/2018 19:55

These new build flats in London are horrifically overpriced, and have astronomical service charges. Despite the prices, they are usually also in bad areas. They may also be in negative equity soon.

You can buy a terraced house for the price of a new build one or two bed in the same area usually. Plus the terrace would be freehold, and no ground rent or service charge. You also have the option to extend a house under permitted development (unless in a conservation area). Seems like a no brained to me.

mayhew · 15/05/2018 19:56

If you are young and not immediately planning to breed, the flat!
Choose carefully, some have much better value for money leases than others, some have shared freehold. If it's attractive to you, it will be attractive to others and saleable when you want a house.
A Zone 3 small house is similar cost to zone 2 flat, mind you and a fast tube makes all the difference. We are zone 3 Victoria line and it's super speedy.

SilverHairedCat · 15/05/2018 19:58

If you can afford a house, buy a house. My flat was a nightmare despite me adoring it - upstairs flooded me out several times, noisy tenants - from 18 men hot-bedding in the upstairs one bed flat then doing an over night flit with tens of thousands of pounds of debt resulting in bailiffs and all sorts of issues I had to field; to the domestic abuse couple where the woman broke his wrist and beat the crap out of him every other night; to the chain smokers who stank my flat out all day every day. Add in music from downstairs and it could make me sob in exhaustion after a night shift.

The owner of upstairs used to refuse to pay their share of maintenance, which the freeholder had huge issues with. It delayed urgent roof works being done. This is the same landlord who refused to accept there was a shared issue when the shared waste water pipes overflowed out my toilet with raw sewage every time their tenants flushed their toilet or ran the washing machine. They'd been putting wipes and sanitary towels down it for months - I use neither - and that was what clogged the external shared downpipe so much that my bathroom was swimming in inches of filth.

Add in the incompetent letting agent of the upstairs flat and at times it was a perfect storm.

At least in a house, some of these issues are nullified.

I will never again buy a flat.

jay55 · 15/05/2018 19:58

The extra you pay in your season ticket living further out is money that could be going on paying off the mortgage.
I love living in a flat, it works for me but understand others want their own front door and a garden.

EleanorofCastile · 15/05/2018 20:05

Flat in a good location! We have a leasehold flat (with share of freehold which we had the opportunity to buy a few years after we bought, but leasehold was fine), and a house which we currently rent out. The flat is great, nice high ceilings, decent storage and life is simpler. Loads going on around us/in walking distance (we are just in zone 3 ideally would like to be further into zone 2).
I do miss a garden in this weather though but have spent and hour at the park this evening.

WisteriaWizard · 15/05/2018 20:07

For a first time buy I'd go flat that's a long lease or share of freehold that you can add value to i.e. but top floor and go into loft (if possible) improve layout, or extend a ground floor. You'll make more money to buy a house as your next purchase.

Downwiththatsortofthing252 · 15/05/2018 21:06

A relative of mine owns a flat in a block which used to all be council owned, but now a good portion of them are privately owned. The council decided to renovate them, and the council owned flats got new kitchens and bathrooms (and the tenants didn't pay towards them), and then all the flats got new windows and front doors. My relative was charged £18,000 for this, even though she only got a door and about 5 windows! She didn't get to pick them either. But she had no choice, obviously she's picked up some of the bill for the other bathrooms and kitchens.

Leaseholds have their big disadvantages, as you have to do what the freeholder says. Also is the flat a new build? Lots of issues can crop up after the sale, for example damp, cracked walls etc.

peachypetite · 15/05/2018 21:08

A house for sure!

greendale17 · 15/05/2018 21:11

House over a flat everytime

senua · 15/05/2018 21:14

What mycat said: avoid leasehold like the plague. The only time to possibly consider it is if all the flats part-own the freehold.

sunshinesupermum · 15/05/2018 21:19

It rather depends on what sort of social life you want as much as anything. Getting the train out to the suburbs to your little house which is surrounded by families (lol) may not be right for you as a singleton esp as you already work in central London.

As a FTB please don't be put on by buying a flat but I would go for a purpose built one rather than a conversion. Good luck!

AntiHop · 15/05/2018 21:22

It's a tough one. I'm just about to move from a zone 2 flat to a suburban house. I've loved living so centrally. But I'm looking forward to having a garden.

Be wary of the amount of flats being built in the area you're buying. If there's lots of new developments, this could mean lots of competition if you want sell in a few years time.

theycallmebabydriver · 15/05/2018 21:24

I'd go for a flat in your position. I live in a flat 10 mins walk from a city centre and it's great- shops, pubs, entertainment all on your doorstep. Have a much fun as you like and stumble home with a kebab when you're done. We're ground floor and have secure outdoor space for bbqs and our pets and don't pay service charges or maintenance fees. Leaseholds get a bad rep in my opinion and in the case of some new builds this can be justified but there are some that work well you just need to make sure you are absolutely sure of what costs may be involved both now and in the future.

I bought this place when I was young free and single. I'm now married and 36 weeks pregnant, having a baby and living in a flat is fine! All the advantages still apply, I'm walking distance of all sorts of things and don't feel isolated now I'm on mat leave.

hampsteadholly · 15/05/2018 21:31

I was in your position not that long ago. I went for option 1 and I don't regret it at all. Location is key. I now have a partner and baby and we're still here, there's no rush to move to the burbs yet as there's so much to do with a baby here. Plus our commutes are really short which is great for quality of life.

Also when I was living alone here I absolutely loved the added security of being in an apartment complex rather than a house.

Closetlibrarian · 15/05/2018 21:32

Totally depends on what life stage you're at. If you're young, footloose and fancy-free I'd buy central and/or near your friends/ social life/ work. I owned three flats in London Z1 and Z2 aged 30-40 and wouldn't have changed living in central London during those (mostly child-free) years for anything.

Do your research on the neighbourhood/ neighbours though. In two of our flats the soundproofing was terrible - one was a period conversion and one was a 1970s (I think) council block.

AvoidingDM · 15/05/2018 21:32

I can't talk about London or areas but as a single person I opted for a flat.
Working full-time and having a life, shopping, gym, sports, hobbies, friends I was out most nights in the week for at least couple of hours. Keeping on top of the house work was hard enough without adding a garden into the mix.

Closetlibrarian · 15/05/2018 21:32

Oh yes, that's a good point - I always felt safe in a flat on my own and also much, much less maintenance compared to a house. Much easier to live in, iyswim

KanielOutis · 15/05/2018 21:33

Another one who lives centrally (not London) in a flat. I didn't want the house further out, and have to travel in - I wanted to be right in the centre. A leasehold flat isn't the same as renting - you have a mortgage and when that is paid there's no housing costs. Yes there's service charge and ground rent - I pay £700 per year all in. There is also costs to a freehold house too in insurance and maintenance. There is a snob thing when it comes to flats and people like to look down on them but it can be unjustified.

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