Anyone downsized house to apartment and could tell me the pros and cons

[middleeasternpromise]

I want to sell the 4 bed family home which has been a drain maintaining - kids are slowly moving on I think I could drop to a two bed or 3 if necessary - really wondering about a flat - smaller and hopefully easier to keep clean and will be a lot less than equity in the house. However would want this to be my last move what if I regret it and realise I can't cope in a flat! Lived in plenty when younger but I maybe fussy without knowing it.

I’m thinking of the same when DC move out. My main concerns are whether it’ll be too noisy (in a semi at moment) and having no garden.

Agreed noise and outdoor space are my biggest worries but I think I could work with a large terrace - so long as I can sit outside on the odd dry and sunny day - I'm really fine with being minimalist on the belongings.

Flats have service charges, sometimes additional contributions are made for major repairs for the block.
Often there is no garden and you have to live in close contact with others.
Downsizing to a smaller house was our option. Halved the council tax!

Watching this thread as we are thinking the same!

I've seen some stunning flats but probably would prefer a freehold bungalow. Trouble is bungalows usually have too much outdoor space and need refurbishing which we don't want in our dotage, but having been detached for a long time, we are not convinced that living in close proximity in a flat would work for us, not to mention we are nervous about the whole leasehold aspect!

Anyway I'll look forward to reading the various opinions put forward!

I think Flat living, especially in a fairly sociable block, is excellent as you get older.
If you are in doubt- why not hire yourself a flat on air B and B fit a few weeks and try it? It will cost a lot less than moving twice!

The rules/by laws do my head in! I’m sure it varies from place to place but it gets on my nerves! We could only have a certain type of front door mat, cannot hang laundry on the balcony, can’t park the car in certain places. Then the steps also are annoying, but of course it’d be different if I was downstairs. The fees to cover repairs and structural problems and to cover retrofitting any time a new rule is passed. We have compulsory window safety fixtures added and treads added to the steps. The general proximity to the abundant neighbours.

There must be upsides to living in flats, I’m just not sure I like it myself. I’ve gone from flat to flat to flat over 9 years and I’m ready for a change. I’ve got a young family though so some negative aspects of my experience will not be the same for everyone.

I reckon a medium-largish block 25-75 flats?), managed by a right-to-manage company is best (ie- the residents have the final say!). And you need to choose a block you like the atmosphere of- if there is no laundry hanging anywhere, and you live to hang laundry, it might not be a good match.
Re service charge and repairs- you still have to pay out in a freehold house- only it's just you paying the whole cost of the roof, or whatever it is!

My concerns would be service charges, noise levels, drying laundry and the storage and ease of using bins/recycling. I don’t fancy either traipsing up and down to where they would be stored on a regular basis or holding lots of rubbish indoors to minimise trips.

If you do go for a flat, watch out for the ground rent. If it doubles every 10 years, it can end up an enormous amount and the flat could end up unsellable.

Going from being a freeholder to a leaseholder could be a shock - not just service charges (which can be way more than they ought to be) but also any restrictions in the lease and the need to get permission for any changes you want to make.

Share of freehold or right to manage company might seem like the answer but if nobody wants to step up for the job of managing then you have the opposite problem - necessary repairs not done or some leaseholders don't pay their share...

In a nutshell, lack of control compared with being a freeholder.

I used to rent an apartment and when I was lying in bed at night I could hear my upstairs neighbour having a pee.

We are an end terrace 2 bed. We're buying a bigger a house soon and I'll bloody miss how quick this house can be cleaned from top to bottom.

I wouldn't consider a flat unless it was purpose built with concrete floors and wall.

My solutions to living in a flats are as follows: install a tumble dryer, go for top floor with a lift, or ground floor with external space, sofa bed or futon in living room for occasional guests, give away lots of books, CDs you never listen to etc etc. No more hoarding. No conversions in creaky old houses. Purpose built with concrete floors is the only way to go. Enjoy how quick it is to clean. Spend the money you gained by downsizing on more holidays.

I did it. I sold my 3 bed semi and bought a 2 bed flat. And love it! Firstly, I would say get your own outside space. I have a patio which leads to communal garden. I just sit and look at a professionally maintained garden. I had to downsize my belongings which actually is cathartic. It was ridiculous the stuff I was just storing. Be realistic - you will hear noise from others. As I have more disposable income, I am now travelling more. I did love my house but am so enjoying my flat.

Really interesting perspectives , I have taken note of the purpose built advice. I'm in a really old Victorian property right now and while I don't pay a service charge I do think about every 5-10 yrs I end up paying 15-20 k in repairs like plumbing, muttering, painting and decorating and I never feel like everything's done. I did looks at smaller new build houses and they also came with service charges to cover the estate so either way you pay is what I'm learning. I do feel ready to be stuff-less so I think I can work with a lot less space. I now know I don't need a lot of garden and the idea of looking at something someone else maintains just fits my world perfectly. Im going to do look carefully at the sums everything's a compromise but I think when I am able to see what I save per month/year that will help me focus when I'm niggled by noise or neighbours. Thanks for all the input everyone !

Well the biggest issue for me would be that you never really own a flat. You are merely buying a right to occupy that space. You are a leaseholder. The property you live in is simply parasitic upon someone elses land. You are subject to lease duties,service charges etc etc and restrictions. It amazes me that so many people are prepared to pay big money for this.

I moved from a house to a flat, not to downsize, just to get away from nightmare neighbours. I'm chilling in bed at the moment or trying to whilst my upstairs neighbour is "enthusiastically" shagging some bloke above my head. I'm the ground floor flat with 2 floors above me, I can hear the top flat if they use the toilet. We have a shared drying space for hanging out washing, you only get to use it if you get there about 6.00am otherwise it's full & nothing fetched in until evening, I know people work but there should be enough space for 18 flats. My flat is social housing, I've got right to buy but I would never buy it as the leases have so many clauses that other than paying a mortgage I wouldn't have any more rights over renting, I can't alter or remove walls, change windows & doors, still have to be inspected every year & on top of that would have to pay a massive service charge & a share of any building repairs or improvements. I'm desperately trying to get a bungalow, I'd never live in a flat again.

I'm sorry to hear that Nat,,, It does amaze me that loads of flats (or apartments as the developers call them) are being flung up in all our major cities and people are queuing up to pay fortunes to buy or rent them. I firmly believe that many will become tomorrows social housing and/or ghettos in the skies. and that those who paid big bucks for them will be left with a huge slice of negative equity.

Parking! Whilst this can be an issue with houses, it becomes an even bigger issue with flats. The allocated parking can be minimal and visitor parking is at a premium. If your children all came to visit for Sunday lunch etc. they'd may be struggle to park in the vicinity of where you live. If you have a house with a driveway, then the option is there to block each other in etc.x

Don’t do this. We did, ended up selling the apartment and buying a 3 bed house (had downsized from a 5 bed house originally).

Noisy neighbours plus, plus, plus. Service charges, flooded x 3 times in 7 years. Lifts never fixed when they broke.

Do yourself a favour. Buy a smaller house.