UK Investing: Buying A House Over A Flat

Property is the one best investment we make in our lives. However, for millennials, it is far more difficult to enter the housing market than what it was like for any previous generations. Which is one of the reasons was created a so-called ‘generation rent’ in which we are happily renting our accommodations till our pension arrives. Some may even go so bold and buy an apartment, but rarely when anyone is hopeful enough to go for the big fish – a house. Personally, I think that buying a house is better than a flat, so let me share with you why that is.

Space

Compared to a flat, a house has considerably more space. You may argue that it even has too much space than you need. But I believe that there can’t be an excess of space.

If you got plenty of space in a garden, then you can use that in whatever way suits you best. I would recommend many people to grow their own food on their land. Not only they would reduce their expenses on food, but also they would be using their space effectively. But you can barely grow anything in a flat.

Not only space is good for you and taking care of living more efficiently, but also it is amazing thing to have when you are getting children. Imagine if they had only two rooms of your flat to play in and that’s about all they can do. But what a huge difference in their self-confidence would make a spacious house with a beautiful garden! Bonus, if you got food growing in that garden so you can teach them where the food comes from in practice.

And, if you’re a pet-lover like me, then having a house can open a door to getting some furry friends living with you! Right now many flats, especially rented, don’t allow pets on the premises. It is only fair for them not to be wanting to deal with the consequences of having pets in their properties. However, if you live in a house – no one can tell you that you can’t adopt 10 dogs and cats! I mean, don’t go too crazy or you really won’t have a house left after.

Peace and Freedom

Unlike flats, houses are much less affected by neighbours. That’s of course, if they don’t start to drill all day long. But I think that’s in a way better than constant children screaming, or their parents arguing, or loud music playing at night, you know all of these annoyances of living in a flat.

In a house you have a choice of renovation, remodelling, or an extra build in your garden. But if you have a flat, you can’t attach a conservatory to it, it’s limiting. After all we want to feel proud of the good decision, especially when it is so expensive. Owning a house is going to raise that gratitude over the years, as you will be able to customise and change your surroundings as you wish. If you’re a creative and love decorations or DIY like me, you’ll find this very valuable.

Future Appreciation

Even if you’re not thinking much about what the future may be holing for you, it is good to know that there will be something that will give you a financial stability if needed. House prices are usually growing, and so in the time when you’ll repay the mortgage and if you’ll need to sell your house to finance something else, you will gain considerably more than you paid for it.

Of course flats are no different, but there is the difference between a house and a flat. It is very rarely when you’ll be able to gain full ownership of the flat you’ve bought, because of the leasehold contract it is on. Leasehold basically means that you own property for a fixed amount of time, but by the end of that time the property goes back to the landlord.

If your first home is £300,000 or less, you don’t need to pay tax when buying it with mortgage. Although, Council Tax is a subject to where you’re buying the house.

After Thoughts

One of the major reasons why people still buy flats over houses is because it is convenient to own a small property somewhere if you’re not staying there long. And that is great, only if you already have a house, or main property where you live in, to start with. People who love to travel may argue otherwise, but I still hold the position that it is important to have at least one place in the world where you can retreat to (an HSP trait).

Owning a house not only gives you a sense of being grounded or some sort of an anchor in life, but it also takes care of your children – blood related or adopted. In my own experience, loosing a family house can have devastating effects on your kids and their lives. So, it is best if you can pass your house on to the future house owners and have them start with a little head start on this. After all, a family should be held close, and hold its spirit in a house where everyone can feel safe from whatever life throws at you.


Thank you for reading this post, I’ll be back to you with more money wisdom’s for artists tomorrow!

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