House Or Flat – Which Is Best For You?

Purchasing your first home is incredibly exciting and getting on the property ladder is something that most people look forward to. Before you start browsing the property market, you will have several different things to think about and there are lots of important decisions to make. One of which is whether you’re going to purchase a house or a flat. 

There are advantages and disadvantages to purchasing both of these types of properties, and one will likely be more suitable for you than the other at this moment in time. To help you decide whether a flat or a house is best for your first home, below is a list of things to consider when choosing between these two different properties. 

How much money you have saved 

Generally speaking, flats are cheaper than houses to purchase, so you won’t need to have as much money saved for a deposit when you purchase a flat. This is one of the main reasons why flats are a popular choice amongst first-time buyers and they are sometimes the only affordable option available to those wanting to get on the property ladder.  

What you can borrow from a mortgage lender 

The majority of people will require a mortgage to purchase a property and mortgage providers will only be willing to lend you a certain amount of money. Factors such as your current wage, your monthly outgoings and your credit history will influence how much money you’re able to borrow and, in turn, how much you have to spend on a property. Depending on the size of the mortgage you can get, you might not currently be able to afford a house. 

Where you’d like to live 

Location is essential to consider whenever you’re moving home and where you’d like to live will often impact the type of property you purchase. If you’d like to live in a city centre and be in walking distance of local shops and transport links, for example, it will likely be easier for you to find a flat that meets your needs. On the contrary, if you’d like to live in the countryside, there won’t be as many flats to choose from and a house may be better suited to you.

Whether you want a private garden 

Whilst some blocks of flats have communal gardens and some ground floor flats have small patio areas, if you’d like your own private garden, a house is usually the best option. Most houses tend to have private back gardens and they will provide you with an outdoor space you can use without being disturbed by your neighbours. 

How long you’re going to be in the property 

As mentioned above, flats are popular for first-time buyers and they can be great if you only plan on being in your first home for a couple of years. However, if you’d like to stay in this property long-term and you plan to start a family here, a house may be a better choice. Not only are houses normally bigger than flats, but they can sometimes be extended too. For example, you could add a conservatory or carry out a loft conversion if you need more space in the future. 

The number of cars in your household 

This can be easy to overlook, but having somewhere to park is essential. Typically, you will get one designated car parking space when you purchase a flat, but if you have more than one car, this might not be convenient. Lots of houses have driveways that are suitable for a couple of cars and if you want guaranteed off-street parking, this may be preferable for you. 

Finding houses or flats for sale in Hatfield Herts

Hopefully, thinking about everything mentioned above will help you to decide which type of property you’d like to purchase. Whether you’re looking for houses or flats for sale in Hatfield Herts, contact our team at Wright & Co for some assistance. Since 1981, we have been helping people find properties within the villages along the Hertfordshire and Essex border, and we have a wealth of knowledge that can help you find your dream home. Customer service is incredibly important to us at Wright & Co and we will work closely with you to make the process of purchasing your first property as stress-free as possible. 

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