ACCOUNTANT EXPLAINS House vs. Flat: Which Should You Buy?

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More property and investing in property videos would be great, for example comparisons of different opportunities with property such as buy to rent, HMO, etc.

You can summarise the two property types as follows: With a freehold house, you own the building and ground it sits on. These two, generally, become more valuable over time. With a leasehold flat, all you ever own is the right to live there. And that right steadily becomes less valuable over time - unless you pay to stop that erosion.

Would definitely love to see more homeownership videos. Specifically how you started and how you manage your properties

What the Grenfell Tower situation has done to privately owned flats has completely put me off ever considering a leasehold flat. We have two tower blocks in my town which have been wrapped in plastic and scaffolding for years, because the freeholder had all the insulation removed on safety grounds (rightly so) and imposed a phenomenal cost (over £10,000) to each leaseholder to pay for he remedial work which the owner company cannot afford to pay upfront. These unfortunate leaseholders now have flats which are unsaleable, cold and damp, and covered in plastic so they can't even look out of the windows. It's a scandal; my heart goes out to these hard working people.

Service charge is the main difference I think between a house and a flat - if you own a house you can DIY it if you own a flat it can be extremely expensive plus it includes things like lifts that you wont have in a house. to be honest it often feels like I'm still renting despite paying a mortgage to "own" my flat. Downside of a house in London and elsewhere - more likely to be broken into.

This is a unique UK scenario. In Australia all apartments the land is part owned by the owners (scenario 3). There is no such thing as leasehold. This makes buying apartments a solid choice to get into the market. The only major cost is body corporate fees and maintenance levies (~$2k pa)

Lease is not always bad, I have a 900+ years lease, my ground rent service costs are less than £20 a year. For £20 a year the landlord is responsible for the outsides. We’ve been here for 13 years. So leasehold is not always bad.

Yes please do make more on property. What you already are doing is great and very helpful and you make it easy to understand and therefore easier to make a decision what is right for me. Thank you for the great advice and content! Love it!!

What you're teaching should honestly be taught in schools as a regular lesson from a young age but i've got a sense the government and companies wouldn't like most people knowing what you're teaching (not to sound like conspiracy head Lol) but I'm glad i found your channel and honestly, thanks for the videos, educating us and sharing your knowledge

We appreciate this style of content (and this series of real estate videos) Nischa. Very well structured and presented. Thank you for sharing 🙌

I simply love the way you present your content and how it is precisely communicated

So many moving parts handled so well. Thanks for organizing the info so well taking this onboard for my channel as well 😅

Thanks for your videos and content! I find it all very informative and friendly; thanks a lot! You mentioned the concept of the "property ladder". Everyone talks about it, but it will be great to understand a bit more about what it means, how to make it work well for someone and how to deal with banks and other entities that will give you the money for it!. Thanks

This video came at just the right time.

I found this very useful, thank you so much! I would definitely be interested in more property content. Love your work!

Great video, clear points, well made. This is something that I am starting to consider again now i'm looking at getting back into property ownership, so it's good to remind myself of the pros and cons!

Yes, property videos will be very helpful, also letting your property as an additional income stream will be an insightful topic. What to consider while buying a property to let in the future?

Thanks for this! Would love some more videos on property - particularly any advice you have on the step-by-step process of buying a house in the UK :)

Thank you for sharing with us the factors that i would not have even thought of when deciding between buying a flat or a house. After this, my vote definitely goes to buying a house. Keep up the great work and videos! 😊