Looking for a new place to buy takes work.
You must decide on your ideal budget, location, and property type.
Flats are one of the most common property types in the UK, whilst maisonettes are less well-known.
Keep reading to learn more about these two types of property.
Definition of a flat
A flat is a type of property unit typically located within a larger building.
You will often – but not always – find flats next to other flats as part of a ‘block of flats’ of a re-purposed house. Other times, they might be above houses or shops.
Either way, you will usually have a key or code to enter a main building and then another to enter your flat.
Types of flat
There are different types of flats.
The smallest kind is a studio flat, a single living space (with a separate bathroom), and the largest is a penthouse.
In fact, maisonettes are often treated as a type of flat because they are close to the size and costs of some other types of flats.
Flats are usually small, relatively cheap, and urban
Flats are the smallest type of property in most cases.
As a result, you can often buy or rent them for less than other types of property (detached, semi-detached, terraced, etc.).
Definition of a maisonette
A maisonette is a type of self-contained unit which is spread over two floors.
It has its own designated door, walkway, and internal stairs. Some maisonettes have a garden space, too.
Where do you find maisonettes?
Maisonettes are more common in small towns and rural centres. They are often located above corner shops or garages, or in converted period properties.
Property ownership types for flats and maisonettes
Flats and maisonettes can be owned in several different ways, including:
- Leasehold: You own the building but not the land it’s on. You have the right to live in a property for a specific period, typically between 99 and 125 years.
- Freehold: You own the building and the land it sits on. You can live in the property indefinitely but are responsible for maintaining everything within its boundaries.
- Share of freehold: When a group of individuals jointly own the freehold of a property. This is common in the UK for buildings with multiple flats.
Leasehold is the most common type of flat and maisonette ownership.
It often entails having a ‘freeholder’ to sign a lease with when you purchase the property. The terms of this contract outline what you can and cannot do.
For example, you might be forbidden from having pets, hosting loud parties, or renovating the property.
Differences between flats and maisonettes
1. Floors and space
A maisonette is usually spread over two floors, while a flat only has one floor.
As a result, you could generalise that maisonettes are generally larger than flats. However, this principle often has exceptions because of the range of types of flats available.
2. Gardens
Maisonettes are also more likely to have outdoor garden space.
This is partly a design feature (i.e., only ground or rooftop flats tend to have garden space), and partly a function of them being more common in areas with more space.
3. Noise levels
People living in maisonettes are less likely to experience noise issues.
This is because fewer other people are in the same building. Their property is more insulated from surrounding noise.
4. Amenities
You will sometimes find flats that have shared facilities such as a gym, swimming pool, or a lift.
This will undoubtedly increase the service charge, but nevertheless makes for a more enjoyable living experience. It’s extremely rare to find maisonettes with this.
5. Selling process
Flats can be more difficult to sell than maisonettes because there is more competition, i.e., other flats competing for buyers’ attention.
Should you buy a flat or a maisonette?
Maisonettes are preferable for larger families of couples planning to have children soon because they have:
- More square footage
- Extra storage space
- Garden space (sometimes).
Flats could be better when you’re on a smaller budget. They tend to be less expensive than an equivalent maisonette. This makes them more suitable for younger people.
And flats are often the only option for people who want to buy or rent in a large town or city centre, where they are cheaper and more common than maisonettes.
A freehold maisonette is a higher up-front investment but a better long-term one than a flat. This is partly because you don’t pay service fees and its value is generally higher.
