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Costs difference in maintenance/running costs of house vs flat

randomstuff · 2014-03-08 20:17:38

Hi there, First time hopeful buyer, and wanted to get opinions and suggestions regarding costs involved in buying and maintaining a house versus an apartment. Are running costs vastly different or similar? Thank you.

08-03-2014 8:17pm

#1

randomstuff

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Posts: 547

Hi there,

First time hopeful buyer, and wanted to get opinions and suggestions regarding costs involved in buying and maintaining a house versus an apartment.

Are running costs vastly different or similar?

Thank you.

0

Comments

#2 08-03-2014 8:59pm

MouseTail

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Posts: 1656

Well obviously with a flat you have maintenance fees which can be a couple of thousand a year, but you don't have buildings insurance, or general upkeep such as garden maintenance, gutters, roof upkeep etc. A general rule of thumb seems to be 1% of house value for maintenance annually. I find that a bit steep, and would think its nearer .5% myself, perhaps less if you are handy yourself.

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