If you’re looking for a property in the UK, chances are you’ve heard about flats.
Known for being the most affordable type of property, flats are often first on the property ladder price-wise and because of the availability.
So if you’re browsing the market for a good listing, stay and read to know more about flats and the basics revolving around it before you sign!
Source: Property price advice
What is a Flat?
The term flat is derived from the Scottish word “flet” meaning a floor, or storey of a house or a building.
Unsurprisingly, flats are called so because they are primarily single-level residential properties or because all rooms are located on one floor. It is self-contained, and several identical units make up the whole building.
Depending on your location, there are different connotations of how these properties are called. If you’re in the US, this is most commonly known as apartments, and if you’re in Australia, you most likely call this type of property a unit.
In the UK, it is simply called a flat.
These properties can either be rented (contractual) or purchased, although the former is more common and in the UK, the average rental price of a flat is £758 if you’re in the city and £615 if you’re outside the city proper.
Prices of flats can vary too depending on if you’re getting furnished or not.
Apartment vs. Flat
While flat is often used interchangeably with apartments, there’s a clear difference between them.
We’re not saying they’re different– they’re like cousins actually, with the only significant difference being that of what we mentioned earlier about flats being on a single floor only.
On the other hand, Apartments can have second floors with mostly the bedrooms located on the upper floors. It can also be a studio-type property. So in a way, the apartment is a more general term for several types of properties.
In the UK, flats and apartments can mean very different things. According to apartmentabc.com, a flat is more commonly used to describe a standard unit– humble and straightforward. At the same time, British apartments refer to a flat that is upscale and posh.
So it’s safe to say that the use of these terms can also vary depending on what region you are in.
Benefits of Getting a Flat
Source: unsplash
We know looking for a property can be daunting– what with so many different types to look at and so many factors to consider. But Pearl Lemon Properties wants to help you in your search for the right-fit property for you! So we’ve compiled a list of why getting a flat can be your best decision.
- Space-saving quality
- Ideal for single individuals or small families
- Affordable compared to other types of properties like detached houses or semi-detached houses
- Say goodbye to the stairs! No more going up and down!
- No second floors mean there won’t be stomping noises above your head.
Simple flats live up to their name. It is often spacious because all rooms, bathrooms, kitchen, dining area and living room are all on one floor, so if you’re in one area, you will most likely be able to view the entirety of the flat.
Tips On Buying or Renting a Flat
We have also compiled some tips to consider if you’re renting or buying a flat!
If you’re renting:
- Make sure the location is safe
- Be prepared for when the rent increases
- Check if the contract allows early termination or extension
- Check if your deposit is protected (tenancy deposit protection)
If you’re buying:
- Is it a freehold or a leasehold property? In a nutshell, the former refers to purchasing and owning everything– the property built in it and the land it’s situated in. In contrast, the latter refers to purchasing the right to occupy the flat, but the land belongs to someone else.
- Get a mortgage for your house purchase.
- What restrictions are there on the property?
- Arrange a solicitor or conveyancer. Get the professional’s help! It will be worth it!
The list goes on and on! It can be a grueling process but one that is necessary and will get you the property you’re looking for!
But regardless of whether you’re renting or buying, I’m sure we can all agree that the first and most crucial step is to browse the market for the property you’re looking for.
Meta title: What Is A Flat? Buying Tips Included
Meta description: Get to know what a flat is. Let’s talk about some benefits and tips if you’re renting or buying a flat.
