Looking for a property, whether it’s to buy or rent, is a minefield. There are so many different types to choose from it’s hard to know where to start.
It becomes even harder to decide when you come across words like studio flat, leaving you wondering ‘what is a studio flat? How is it different to a ‘normal’ apartment?’
Well, you’re in the right place! Let us guide you through the world of studio flats, including their pros and cons AND our verdict on whether or not they’re a good investment…
Ready to get started? This menu will help you decide where to get stuck in:
A studio flat, also known as a studio apartment, is a property type which contains all its living functions in the same room. This means your living room, bedroom and kitchen are all combined into one open space. The only area which will be separate is the bathroom, just to add that little bit of much needed privacy.
A variation of a studio flat is an ‘alcove studio’, which may have a small separate area, like a little wing off the main living space, which can be used for dining or sleeping.
The size of a studio flat will vary depending on country, but in most cases the maximum size is around 600sq foot.
There’s no straight one answer to this and will depend upon each individual situation. We know that’s not the answer you’re looking for though, so we’re going to do our best to advise…
If you’re renting a studio flat, then it will be up to your landlord whether or not you’re allowed a furry friend. It’s likely they will be reluctant to let you have a dog as there will be concerns about any potential damage to the flat or any noise disruptions they may cause to the neighbours.
If your tenancy agreement doesn’t state whether or not you’re allowed a dog, but your landlord gives you a verbal agreement, it’s best to also get this in writing to ensure you have proof, just in case anything goes wrong down the line.
Most studio flats are leasehold and so it will be written into the lease whether or not you’re allowed a dog and, in most cases, they’re not allowed. If, however, you buy the studio flat and it’s a freehold, then you make your own rules!
Even if you are allowed a dog, it’s important that you also take into consideration the welfare of the animal and whether it’s right for them to live in a studio flat. There are specific breeds which will be better to have in a studio flat and these are the smaller breeds, such as:
All we’re saying is, if you’re given the green light for a dog in your studio flat, make sure you do your research before diving straight in!
The main difference between a studio flat and a regular, 1 bed apartment is a regular apartment has separate living areas, meaning each room has a defined purpose and is closed off from the rest of the space.
The differs to a studio flat which has the bedroom, living room and kitchen all in one, with the only separate space being a bathroom.
Also, a studio flat normally has a maximum size of 600sq foot, with the minimum size being around 300sq foot, whereas a regular apartment will normally be much bigger, with the smallest one equalling that of the biggest studio flat.
Even if a studio flat and a regular apartment were the same size, you may find a regular apartment feels bigger as everything is spread across different rooms, compared to a studio where you’re just looking at the same space.
So maybe we’ve got you curious about a studio flat and you’re starting to think about if they’re something worth your attention. To help you out, we’ve got a list of the pros and cons of living in a studio flat listed right here for you:
Pros:
Cons:
Once again, this is another one of them ‘down to personal opinion’ answers but we’re going to do our best in giving you the good and bad bits, alongside our opinion!
A good part about studio flats is that there’s a growing demand for small apartments, with the population and cities increasing. This is causing an increased number of people looking to rent somewhere for themselves or with a partner, making a studio flat the ideal solution.
A studio flat is also ideal for people both young and old, as they’re all on one level, making them cheap and easy to maintain and furnish.
A studio flat is also a more affordable investment compared to other property types and also come with high rental yields. If you’re reading ‘rental yields’ and scratching your head thinking ‘what is that’ then don’t worry, we’ll explain…
A rental yield is an annual rental income as a percentage of the total value of the property, meaning the higher the yield the better the return on the investment. The average studio flat has a rental yield of about 6% but some have even higher. For example, Liverpool’s Fabric District Residence studio apartments offer an 8% rental yield!
Also, as we mentioned earlier, a studio flat is more eco-friendly than other property types as they’re smaller and so require less energy and electricity. This is something which is becoming increasingly appealing, as the world constantly looks to find ways to become more eco-conscious.
However, as we said earlier, one of the main problems with a studio flat is they’re very difficult to sell, especially in a slow market when prices are lower, and a ‘standard’ apartment becomes more affordable. Generally speaking, people see a studio flat as a short-term accommodation and so aren’t looking to buy but rent one instead.
If you’re asking us, we say if you’re looking at buying a studio flat as a buy to let, then it’s definitely a worthwhile investment, as there’s always an opportunity to rent. If, however, you’re looking at buying a studio flat as a property to improve and quickly sell on, then it’s probably not an investment worth your time.
So that’s everything you need to know about studio flats, including the answer to the important ‘what is a studio flat’ AND whether they’re a good investment. Do you have something else to add? Or maybe you’d like to have a go at writing an article yourself? Whatever it is, get in touch today!
Millie is perfectionist with a passion for property and writing articles. You’ll find her researching the latest housing trends and the newest up and coming areas worth investing in. Read more about Millie here.
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