When looking for property to rent or buy, you will come across an array of properties and listings. On the property listings, you will see apartments, houses and flats in plenty. But did you know of the much lesser-known maisonettes? Yes, they may be the best property investment about which you did not know.
So what is a maisonette? A maisonette gets its name from the French, meaning ‘little house‘. It could mean different things depending on where you are. Nevertheless, it is a type of flat with a private front door. It means that you could exit your house straight into the street, unlike a flat where you must go through a common corridor. The concept arose in the 1960s and 1970s to provide higher density in the suburbs before apartments were allowed. They are a great investment, and below, we discuss what to look for when buying a maisonette.
Private Entrance
If you are looking for a place to stay, a maisonette is ideal if you want a private entrance. You get to exist and come home privately and do not get disturbed by neighbours getting back home at late hours. Your deliveries remain safe, and you could install a security system ideal for you. When buying an apartment or flat to rent, you have to be worried about the commonplace status for a maisonette you do not have. You get to concentrate on refurbishing your maisonette without the worry of a lesser desirable commonplace.
Low Acquisition Cost
Compared to other living spaces, maisonettes are relatively cheaper. It is due to, in part, the little popularity of the property. They are not considered luxury living and are not widely available. In some instances, they are part of a larger building, mostly on top of a business. With the factors above, the price is low, but it is a great way of investing in low-cost housing with the advantage of larger space. In case you have a shop or business, they come in handy too.
Low Maintenance Charges
The whole setup of a maisonette will not only bring down the buying price but also the maintenance and service charges. Unlike an apartment where you have to pay for common area maintenance that could include a lift and concierge. The amounts could easily amount to hundreds or even thousands of pounds per year. For a maisonette, you do not need a lift and will do the management by yourself. Your only charge will be paying a property rent for the place your property is leasehold. The amount is as little as 10 pounds.
They Offer Excellent Value
You will read about the fluctuations in property prices with high rents that leave houses unoccupied. If you have concerned about investing your money wrongly and losing your money, consider the cheaper maisonettes.They offer excellent value. The low price makes it a low-risk investment, and the resell value is equal to or higher than the acquisition cost. You can safely invest in something that you know won’t lead you to losses. The hike in house rent also works as people are looking for low-cost rentals.
Plenty of Storage
A maisonette having two floors mean that the occupant has a lot of space to utilise. The extra storage space will be an addition to you, and you could live comfortably. The advantage of the two floors is that when renting out or trying to resell, it will attract prospects. The property can house relatively large families compared to one-floor apartments.
Some Outdoor Space
In the suburbs, maisonettes usually have some outdoor space. Though space is usually smaller in size, it is easily manageable and can be transformed into something interesting. Depending on the space, it could be used as a sitting area or transformed into a beautiful garden. Some come with a garage.
While most people will mention the image of the houses as a problem, remember that people are looking for huge space at low pricing. A maisonette is a low-risk investment that is sure to give you returns.
