Investing in Apartments

Following all the things we have covered so far, the next thing to consider is the style of property you would like to invest in.

Apartments tend to be easy to maintain, nicely laid out, desirable for tenants and often they are to be found in great locations like a city centre. 

However, there are always downsides to any type of investment.

For instance, most apartments are leasehold and this can be a tricky area of property law, where investors can and do get stung.

If you are thinking of investing in an apartment it is important to get good, legal advice and you can also check out the Leasehold Advisory Service.

You might also find that there is a managing agent who runs the building, who might cost you more than you would think, for their services.

So, before you invest you need to consider the following:

  • How long is the lease?
  • How much is the ground rent?
  • What are the management charges for the building?
  • What are the maintenance costs?
  • Where is the apartment located in the building and what impact might that have?

These are the main things you need to consider, on top of the investment fundamentals, already discussed, before buying an apartment.