The United Kingdom’s real estate properties are undoubtedly a ht commodity. With its strong population, high levels of tourism, bustling economy, and promising business sector to name a few, it’s no surprise that people flock the country to do business, to work, to study, to live, to retire, to vacation and so on and so forth further increasing the demand for residential investment property UK.
As the name suggests, these real estate assets pertain to those primarily used as living spaces. People buy them either to personally use them or to profit from them. But as straightforward as it may sound, there are essentially many types of residential investment properties UK and we are here to let you in on them.
- Single Family Houses
These are homes that are built on a single lot and do not share any walls with another property. They may come with or without an attached or detached garage, and/or a garden. This type offers the most privacy and is the most common and not to mention traditional residential property investment UK. It does require more maintenance and are generally more expensive compared to the others given the same factors such as location.
- Condominiums or Apartments
These pertain to an individually owned unit of real estate, especially an apartment or town house, in a building or on land that is owned in common by the owners of the units. Depending on where one’s unit is situated within an entire storey’s floor plan, condos can share one or more walls with other units. These are very popular in urban, high-density areas such as the United Kingdom’s capital city, London.
Dormitories refer to a large room divided into several sleeping quarters and which often shares key features like bathrooms, living spaces and the kitchen. Common examples are boarding schools or a hostel. Unlike single detached homes and condos, these are often for a shorter span of time such as a few days to some weeks.
- Vacation Homes
As its name suggests, these are residential homes that chiefly serve as a vacation or holiday house so they are often found in the countryside or in areas that offer fun, nature and respite. They are often for relaxation and are not inhabited for a full year round.
- Mixed-use Properties
This type is a very common type of residential property investment UK. Several buildings are used not just as a dwelling place but also as a commercial space such as an office for personal use or even offered for lease to businesses in need of retail or office space.