Ground floor flats often receive a bad press for a variety of reasons: lack of light, noisy neighbours, or fear of burglaries. There are many misconceptions about this type of flat which can be an attractive proposition to potential purchasers looking for a property to live in or rent out. There are a variety of exclusive ground floor properties available from split-level apartments and lofts to ground floor or garden flats in Haussmann buildings.
A property that is often cheaper than an upper floor flat
Ground floor flats can often be bargains. The price difference between an upper floor and a ground floor flat is generally around 15 to 20%, depending on the condition of the property. Which means that some purchasers can buy a property in their preferred neighbourhood at a lower cost or buy somewhere with an extra room which is ideal for a family flat.
Property with outdoor space
Having some outdoor space is a real advantage for this type of flat since outdoor space has now become an essential criterion for buyers and is like gold dust in certain parts of Paris. Terraces or leafy gardens are a charming asset for these exceptional properties, nestled in the heart of the capital. These exceptional, private spaces offer owners a taste of the countryside in the middle of the city and a window onto nature.
A property with lower charges
In addition to costing less per square metre than upper floor properties, ground floor flats also have lower charges. Although the co-owner has to pay a percentage of the overall charges, linked to the maintenance of the co-owned building, so-called special charges are lower.
Good return on rental investment
Investors looking for a buy-to-rent property often opt for a ground floor or garden flat. A lower sales price allows purchasers to maximize their return on investment when compared to an upper floor property of the same size.
Essential factors to consider when purchasing this type of property
When purchasing a ground floor property, it is important to research the local environment and find out about any potential road or neighbourhood disturbances (the presence of shops or a busy street). Sound insulation is, therefore, something to be alert to. It is also advisable to check the security of the ground floor property for sale: are there bars on the windows? Is there an alarm? Are the locks reinforced and the doors sufficiently secure? These elements can all be installed after purchase to improve safety. Finally, light is often one of the drawbacks of a ground floor property. There are various ways in which you can improve the brightness of a rather dark flat, for example: paint the walls in lighter colours, restructure the living rooms, create glazed internal windows or doors and even place mirrors in certain rooms.
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