But, that said, I am not down on new-builds. More housing stock is always a good thing. And, as with most types of property, there are gems to be found.
In a block of flats look for the ones with unique features. It helps if you’ve got something that makes your property stand out from a hundred others, so it’s worth viewing more than one flat in a building.
Does one flat have better light, or better proportions than another? Do any of them have a nicer view? (Although these can be seasonal, so bear that in mind.)
My favourite choice in a block is the top floor corner flat where you have no one above you and light on multiple sides.
This is the sort of thing that I find can be a difference when going for viewings, the bonus element that can make a potential buyer fall in love with one property over another.
Among older housing stock I always look out for purpose-built flats. They are often Victorian-built and they look like other terraced houses. They’re rare now, but they are great flats if you can find them. They have their own front door and because they were built to be flats, not conversions, are properly proportioned.
I am also a fan of ex-local authority housing, much of it built in the 1960s. They make great flats: they rent incredibly well, are usually structurally sound and well located. Admittedly they don’t look pretty, but they are purpose built, so they work.
Ex-local authority homes may have a slight discount in terms of cost per square foot in comparison with other properties nearby, but then you should also accept that you’re likely to sell at a discount.
Similarly I am a huge fan of the houses in industrial towns like Sheffield, Leeds or Manchester. These areas used to be wealthy centres of trade and the merchants built themselves gorgeous houses with great architecture. Port towns are also good examples, including Liverpool, Southampton and Plymouth.
As markets and the world changed, some of these places went through hard times, but there is no doubt the bones of these properties are good. Always look for good bones.
Nearly anything you buy will need upgrading in some way within a few years, but you will rarely go wrong with quality architecture.
When these Victorian and Edwardian streets were constructed, it tended to be one person who built a street. And the builder tended to keep a house for themselves; if you can identify their property, you will usually find it some foot or two wider than the rest.
They are very difficult to spot from the outside, but keep an eye out as the extra space really makes a difference.
