Property prices have continued to increase over the last few years and show no signs of slowing down. If you have a tight budget, it can be hard to find the right property in order to make your move on the ladder.
Often, a compromise in location may be necessary in order to obtain the space you are after. Perhaps you might have to have one fewer bedrooms than you’d ideally like, but you end up in the ideal location.
Compromise is a likely thing to have to deal with in the purchase of any property. But, perhaps a broader view of what is a practical option for a property purchase can sometimes mean you can get the best of both worlds.
Flats and maisonettes offer a very good option for a first-time property purchase, or perhaps even an investment property.
In Birmingham, the average price of a flat or maisonette is £136,628 and whilst prices have risen in the last 12 months, they have done so at a lower rate than their counterpart house types. This could mean that you are more easily able to save for the deposit required for a flat in a shorter time period than a house where the purchase price keeps rising higher.
There are many positives about living in a flat: