Leasehold flats

[CanadianUKimmigrant]

I keep reading on here about leasehold flats being a really bad idea due to ever increasing lease charges. DH and I (retired) want to spend several months a year travelling so a house would be a security risk. We'd really like an upper floor flat in a converted house (for a bit of character), something like this:
https://www.rightmove.co.uk/properties/164446562#/?channel=RES_BUY
This one may not be the best example as the fees are actually really low. Anyway, if you live in a place like this, or know someone who does, is it a good idea? Should we just rent and leave the maintenance issues to the landlord? We'd really like to own but perhaps renting is a better plan in our situation.
Your thoughts are most welcome.

I have lived in a mansion flat before and will never do it again. It was such a beautiful flat but my goodness did I have the worst winter. Spent a fortune on heating which really made no difference.
Also didn’t help that it was a listed building.

The damp and mould I lived through there was one of the worst experiences of my life no kidding.

You’re better off buying or renting a top floor modern flat. But then again service charges tend to be hideous on those and kinda make them not worth it.
If you buy a house you can always hire a property manager to manage it while you’re away

can you buy a flat that is share of freehold?

I would only ever consider buying a flat if the purchase includes a share of the freehold.

Key questions:

1. who is the freeholder? (Ex council authority vs private management company)
2. how many years left on the lease?

I’d be somewhat dubious about a building like that having such a low service charge and therefore want to take a really close look at the management accounts and asset management survey and establish whether it’s being maintained properly or has enough of a sinking fund.

There are millions of leasehold flats across the country and most leaseholds are broadly problem free, ultimately you only really hear about the problematic ones, such as big, new build blocks which have had cladding issues and rising service charges and those with improper management. I’ve owned several over the years and never had an issue with them. Generally period conversions and small purpose-built blocks without expensive to maintain things like lifts and communal heating systems are a safer bet. Share of freehold is another option, but I’d only choose share of freehold with a professional managing agent in place and steer clear of ones where all co-freeholders are also the management committee because the internal politics can be a nightmare, especially when you need to agree and coordinate on works.

I wouldn’t want to rent if my plan was to be out of the country a lot and in need of a secure base for returning to. If your landlord gives notice, or is repossessed because they’ve stopped paying the mortgage etc, it’s stressful and difficult to manage if you’re the other side of the world.

Thank you so much everyone - you've given us a lot to think about. Maybe we could manage a house after all... This is a big decision for us so I'm sure I'll be back with more questions 😄