Maisonette with no mortgage or house with a mortgage

[OldSpeclkledHen]

Would you rather live in;

A) a large 2bed first floor maisonette with a large garden with no mortgage. Leasehold but low service charge.

Or

B) a small house (poss only 1 bed) with a small garden and a mortgage. Freehold.

Any thoughts appreciated please! Thank You 😊

Depends on personal circumstances (how many of you?) and cost difference but if neither of those are a significant factor, I’d go with the house.

Depends on your financial circumstances, how affordable the mortgage is and how many bedrooms you need. I’d rather have a house and have access to my own garden but not if I was skint due to it and needed more bedrooms.

Freehold 100%

If just me then a house and mortgage

House and mortgage

House and mortgage every time

Is the house detached?

The maisonette because it's bigger.

And with not paying mortgage and associated insurances I could save a deposit for a bigger house. Ultimately, I'd want to live in a bigger house with garden while the kids are young enough to live with me....then downsize.

Just me! (And hopefully a cat!)

No mortgage for me!

Thank You 😊
Seen a maisonette I like a lot...
Houses are much more expensive, but the mortgage is similar to what am currently paying- just wanted to be mortgage free 🤔🤔

Depends on size of mortgage and whether the one bed house is big enough. For me would also depend on area and what was my gut feeling in each property.

When i was recently looking I walked in some and knew immediately if I felt at home there. I would walk in and know in the first few seconds if it was a place I would be able to call home.

how many years on the lease? Have you checked terms of lease (re increases)? Will you be able to save while you live there (& move to bigger house?) Is there any way to improve the property? how easy is it to get to your garden in the maisonette (think dc & you bringing in shopping?) How long will it take to sell (areas - comparison of both properties)? parking?

I’m surprised that a one-bed house costs more more than a huge two-bed maisonettes with a large garden.

I’d find the maisonette better value for money but would really look into that service charge to make sure there’s a sinking fund and a clear schedule of works + the building is well-maintained. Flats are only great if they’re well-managed.

Mortgage free would be a bonus in these uncertain times.

Be mortgage free - it's wonderful.

Second JoJoSM2's advice.

Don't touch leasehold with a barge pole. Endless problems...

Freehold every time.

I've only ever lived in maisonettes but they are the kind that only share the freehold with the flat underneath- no management company or fees etc. So I'd not be concerned about that (if that was the case).

But I'd just say whatever you think will sell on easier.

Freehold, all day long.
I can totally, totally understand the longing to be mortgage-free, but leaseholds make me uneasy.

Depends on personal circumstances and the lease details. I live in a 2-bed maisonette that's leasehold but shares the freehold with the flat below. It's an arrangement I haven't had any problems with and, since I value space, I went for that over a smaller/more expensive house. The other side to it is, is there any possibility of your personal situation changing e.g partner or children? Because space becomes really helpful then!

B definitely service charges last forever mortgages don’t , plus a house so much better than a maisonette.

service charges last forever mortgages don’t
Yeah, but at the end of the mortgage period the house doesn't magically never need any maintenance again. I agree that service charges warrant looking into and carefully taking into account, but it's not really a fair comparison to equate it to the mortgage.

@Persipan yes but it’s your choice what maintenance to carry out and when on your own home. You want suddenly have a large roof bill.