For people thinking of renting or buying a property, you might be considering both houses and flats. Both have their own benefits and suit different situations. The one that’s right for you totally depends on your lifestyle! This post should give you a good idea on how to come up with the best answer:
Location, Location, Location
Location is definitely the most important factor when choosing somewhere to live. Consider this wherever you may be house hunting, like while viewing flats to buy in Rutherglen, for example. The differences in certain locations can be truly shocking. Some places have better flats, others have better houses. You need to make sure the location you choose has all of the amenities you need too. Good schools, shops, public transport, etc. What is the crime rate like? Visit the neighborhood at different times to see what kind of place it is really. It might change at night time, you never know.
Where Do You See Yourself?
All buyers need to consider the future. If you can’t see yourself in a flat in a few years time, then it isn’t the right decision for you. How do you envision your life in a few years? Do you think your property will fit in with that? Let’s say you’re a single business person now. In that case, a small flat would be perfect for you. However, if you’re on the hunt for somebody to share your life with, you might want to move pretty quickly once you’ve found them. It’s much easier to move when you’re renting than when you’re buying. You usually only need to stay in a house for 6 months when renting, after which you can move out when you want. When buying, the situation becomes more complicated. A house might seem too big for you if you don’t have a family yet, but if you’re planning on having one in the near future then you’re better off buying a bigger property. You’ll all grow into it soon I’m sure!
Does The Property Have Potential to Improve?
As mentioned before, you need to consider the future when buying a property. Does the property have the potential to improve? If you come to sell the flat or house, then you will want to make a decent profit on your investment. Both houses and flats are popular with different people. Which do you think you’ll make the best ROI on? Think about how you could improve each property after a few years. Could you extend it? Remodel the kitchen? Add a garage? Consider all kinds of things that could get you a better return on your investment. Many people will tell you that there’s no point in moving if you can improve your property.
Hopefully now you can weigh up the pros and cons of houses and flats and compare them to your lifestyle and situation. It all depends on not only where you are now, but where you plan to be in a few years time. Thanks for reading!