Five advantages of living in a flat or apartment

People traditionally think of flats as being small and cramped, but these days, that’s far from the truth. In many instances, the square footage is bigger than freestanding homes.

Some people also have an outdated conception of who lives in a flat or apartment, imagining a young city-slicker type or a recent graduate who has moved to a city centre to live the high life. Others imagine someone at the other end of the financial scale in a council-owned tower block. Both exist, but lots of other people also live in flats.

Location and convenience

Location

TV programmes have long told us that location is the all-important factor when choosing where to live, and in many respects, that decision will be driven by where you work. If that’s a city centre, an apartment nearby might be very convenient. Land is at a premium in city centres, so opting for a flat might be more economically viable.

Security benefits of flat living

Security

An Englishman’s home is his castle, and feeling secure is vital. Security is likely to feature on everyone’s list, but it might be higher on single women’s priorities. A flat means you are likely to be several floors up, perhaps with a concierge or even a gated complex, which add security a regular house cannot. Block management agents like the Complete Property Group http://www.completepropertygroup.co.uk/property-block-and-estate-management/ might even install entrance codes and CCTV to bolster security.

Cost and running expenses

Cost

Rents are often cheaper in a flat than a mortgage on a house, and there might be lower running costs, too. If there is a complex owner, they will take responsibility for building costs.

Amenities

Who wouldn’t love a gym or swimming pool at their home? Apartment buildings offer access to the types of facilities that most of us could not afford independently, so if this is important to you, give some serious thought to living in an apartment complex.

Flexibility

Renting is a great option, especially when you’re just starting out. Moving on is easy with a few months’ notice, so you can leave and travel wherever you want. This is far more difficult if you have a mortgage.

There are plenty of websites that break down the advantages and drawbacks further.

Before you decide on your next property move, be sure to weigh up all the pros and cons depending on your personal situation and lifestyle.

Summary

This article sets out five advantages of living in a flat or apartment, including a convenient location near work in a city centre and added security from being several floors up or in a gated complex. It also covers lower running costs than a house, shared amenities such as a gym or pool, and the flexibility to move on more easily than with a mortgage.

Questions this article raises

• Are flats really cheaper overall than houses once service charges are included?
• How much do gated security features typically add to rent?
• Is renting a flat more flexible than renting a house long-term?