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A Wealthy Life

May 4, 2023

Chances are, you’ve lived in a flat at some point in your life–but have you ever considered owning one? There’s a lot more to it than you might imagine, even if you have experience with house ownership. So much more, in fact, that I most often recommend against investing in them.

In this week’s episode, I’ll tell you why, in the battle of house vs. flat, less is more. I’ll explain what a freehold is, what a leasehold is, and how they compare to one another. I’ll detail the dynamics behind service charges for owning flats and why they complicate the prospect of flat ownership. I’ll explain what lease terms are and illustrate the difference between house-owning and flat-owning via side-by-side comparison. I’ll touch on how Covid-19 impacted the value of flats. And I’ll tell you why I especially avoid new-built flats.

Then, I’ll end with a series of summary questions to get you thinking on a more strategic track if/when you are ever considering investing in a flat. Ultimately, I will encourage you to buy with your eyes open!

Finally, I’ll get to say to you all at last– May the 4th be with you!

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Highlights from this episode:

[00:01:30] – Freehold vs. Leasehold

[00:08:22] – What is a Service Charge?

[00:15:03] – Lease Terms

[00:17:46] – A House vs. A House of Flats

[00:21:25] – The Impact of Covid-19


Has this podcast started you thinking about what A Wealthy Life might look and feel like for you? Why not spend another 3 minutes and take my online audit called Readiness to Retire Wealthy based on the five principles discussed in The Wealthy Retirement Plan book and episodes of this podcast? The assessment provides you with a personal score and report to help you take back control of your financial future – something business owners and employees both forget – but for different reasons. 


Connect with Vicki: 

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Browse Books by Vicki: 

Using Other People’s Money: How to invest in property 4th edition  

Make More Money from Property: From investor thinking to a business mindset 2nd Edition  

Property for the Next Generation: Securing your future in uncertain times 2nd Edition  

The New Estate: Insights from the 22nd century  

The Wealthy Retirement Plan: A revolutionary guide to living the rest of your in style  


Or read the following Ebooks on  

9 Critical Property Principles  

The De-Job Yourself Manual: Break your reliance on a monthly wage  

The Values Manual: Understand what your values are and how they can be key to a successful business   

The Goal Setting Manual: Create meaningful and practical goals then achieve them