28 February 2012

10 reasons why renting a flat is better than a house

by Gavin Brazg

The status of the house has been undermined by the convenience and economic benefit of the flat. Read on for our ten reasons why renting a flat is better than owning a house:

  • As the market price of oil soars, fuel costs rise. One of the biggest advantages of living in a flat, especially if a new build and well insulated, is lower heating bills. Heat from neighbouring properties will also help reduce costs.
  • Flats are cheaper. Your money will go further when looking to rent. A well-located flat is far better than a bigger house further away. Bear in mind, the rising cost of transport.
  • The external upkeep and that of the garden are taken care of by the owner. This is ideal for busy people who don’t have the time or inclination to mow their lawn. Maintenance costs are often picked up by the landlord or at worst shared among all residents in the block.
  • As well as outside maintenance costs, maintaining the inside of a flat inside is cheaper due to the smaller and generally more efficient use of space in flats.
  • Flats can be quieter: Renting a flat can have benefits when living near a city centre. Being up from street level has the advantage that street noise is less likely to affect you.
  • Living in a flat provides higher security. Flats require keys and smartcards for general access into the building as well as individual locks for each flat, so there is more security. On top of this many buildings have their own security systems and staff for added peace of mind.
  • New build blocks offer more facilities. Many developments now include washing facilities, gardens, swimming pools, gyms and undercover parking. This can greatly improve the quality of your lifestyle and save money too.
  • Renting a flat is more sociable than living in a house. It is easy knock on a neighbour’s door and most blocks have a real sense of community
  • With more modern developments springing up, there is a much better choice of facilities and bedroom size. Flats can make an attractive alternative to houses not only for first time buyers but increasingly families.
  • Flats are easier to lock up and go making them perfect for individuals are geographically mobile.
Gavin Brazg is Editor of The Advisory.

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