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Reasons Why First-Time Buyers Should Consider Buying A Flat

Uncategorized   |   April 28, 2022   |   declan

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Getting on the property ladder is becoming more and more difficult as property prices continue to rise in the UK, and lots of first-time buyers are struggling to find properties that both meet their needs and fall within their budget. When looking at properties on the market, some will automatically rule out flats and only look at one, two or three-bed houses, yet flats can be a brilliant option to consider, especially for first-time buyers. 

 

Before you remove flats from your property search, it’s worthwhile to learn more about the benefits of buying a flat and below we have listed some of the main reasons why you should consider choosing a flat for your first home. 

 

More affordable upfront

 

One of the biggest advantages of buying a flat is that this type of property tends to be much cheaper than a house. You can often get a flat with similar square footage to a house for a considerable amount less and you won’t have to compromise on space to get an affordable property. As a first-time buyer, opting for a flat can prevent you from having to save up for a huge deposit and you may find it easier to get a competitive mortgage when you’re borrowing less too. A flat can be a great place to start when you’re trying to get on the property ladder. 

 

Desirable locations

 

Blocks of flats tend to be built in urban areas and they are ideally positioned for modern life. It will likely be much easier to find a property in a good location when you’re willing to buy a flat and you will have all of the amenities you need in the local area. Whether you want to live in a town centre or near to a train station, for example, you can almost guarantee there will be plenty of beautiful flats to choose from. Ultimately, you will have the opportunity to live in an area that is in high demand when you buy a flat. 

 

Lower running costs

 

With the cost of living being at an all-time high, it is always important to consider how much it’s going to cost you to run your household whenever you’re buying a property. Generally speaking, your energy bills will be lower when you live in a flat and you won’t have to pay as much to heat your home. Flats are designed to be energy efficient and simply having upstairs and downstairs neighbours can make a difference to the cost of your energy bills every month. 

 

Reduced maintenance 

 

The majority of flats will have management companies and these companies will be responsible for ensuring the building, grounds and any communal areas are kept in good condition. Although you will need to pay an annual service charge, this is often very cost-effective and having a management company can prevent any issues in regards to required repairs and ongoing preventative maintenance. Lots of flats will have private car parks that will also be maintained by a management company, so you will have somewhere convenient and safe to park too.

 

Easy to resell

 

Over the years, there has always been a demand for flats and everyone from first-time buyers and young families to retired couples and buy-to-let investors will favour this type of property. When you own a flat that is located in a popular area, you shouldn’t struggle to sell it and you will likely receive a lot of interest when you decide to put it back on the market. It’s worth noting that recently, lots of flats have also increased in value and you may find that this type of property can end up being a great investment in the long run.

 

Finding flats for sale in Sawbridgeworth

 

When you’re wanting to buy your first home, it is definitely worth considering a flat and if you’d like to explore the range of flats for sale in Sawbridgeworth, get in touch with our estate agents at Wright & Co. Since being founded back in 1981, we have been helping people find their perfect properties in the villages along the Hertfordshire and Essex border, and our dedicated team will gladly help you find your dream first home. We have high expectations for ourselves and there’s nothing more important to us than quality customer service, so you will be in the very best hands when you turn to us for assistance with finding flats for sale in Sawbridgeworth. 

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