Buying A Studio Flat vs A One-Bed Flat In London
When looking for your first home in the centre of London, studio flats and one-bed flats may be the best flats for you to look at in terms of affordability.
Of course, you could afford more for your money if you chose to live outside of the centre of London, but you’ve decided that you want to be in the thick of the action and amongst the buzz!
So, what is a studio flat and what is a one-bed flat?
A studio flat is where there is one main open space, including the bedroom (or where the bed goes!)… The bathroom is separate.
A one-bedroom flat is where the bedroom is in a separate area/ room. Like a studio flat, the bathroom is separate.
Now, what are some of the differences between a studio flat and a one-bed flat?
Size
One-bed flats in the vast majority of cases, but not all cases, are larger than studio flats!
One-bed flats tend to feel more private and more like a proper ‘home’, whereas to me, a studio flat feels a bit like a hotel room.
Storage can be a big issue in a studio flat if every piece of space isn’t being used as efficient as possible!
If the one-bed flat and the studio flat are both in the same location, then the one-bed flat could well be the better option…
Purchase Price
Of course, one-bed flats are more expensive than studio flats in the same London location, 99% of the time!
This is not only the purchase price (and stamp duty!), but also things like monthly bills, service charges and running costs.
If you can afford a one-bed flat over a studio, I’d generally advise you to buy it instead of the studio flat.
Property Location
Is the studio flat in a much better street or location than the one-bed flat?
If so, maybe the studio flat appeals more…!
If the one-bed flat and the studio flat are both in the same location, then the one-bed flat could well be the better option…
Intended Lifestyle
If you are looking for a second home, to essentially live in during the week while you work, a studio flat could be a great option for you, as essentially all you need is a bed and bathroom - like a hotel room that you own!
If you are intending on purchasing your ‘home’ (your actual full-time home!), then maybe a one-bed flat suits your needs better…
If you are looking to have a friend stay over every now and then, could you also put a sofa bed in your man living space in your one-bed flat?
Location and intended lifestyle are going to be the main things to think about if you can actually afford both a studio flat and a one-bed flat…
Which one fits our current needs better?