4 ms·
At least in the UK this isn't really a thing. In London you have share of freehold apartments in the outer boroughs, but in Central London it's almost all leas
by esotericn 8y ago
At least in the UK this isn't really a thing.
In London you have share of freehold apartments in the outer boroughs, but in Central London it's almost all leasehold. You have a long lease, but ultimately you have a superior landlord, pay a service charge which can vary, the exterior of the building isn't yours, etc.
A huge benefit of buying a house over an apartment here is that you can actually meaningfully own it. Repairs are up to you, the postbox is up to you, if you want a thing done you just do it (no negotiation or cost sharing), the land is yours forever and the superior landlord can't change to one who's less amenable, etc.
I suppose this could fall under your:
> happen to have a decent choice of apartments for sale
comment, but it's really more that the legal structures in the UK hugely favour owning a house. (I'm not really sure it could ever be different, an apartment is always going to be "closer to renting" because it's communal to a degree).