In the UK alone, there are hundreds of different kinds of properties in which one may choose to invest, whether to live themselves or to rent out to others. This distinction is not as simple as whether the property is a house, a flat, etc, but all kinds of other considerations such as the age of the property, the positioning of the property, and the facilities that the property may have. Understanding the variety of property types is important before investing, and before even deciding the kind of property you want.

The location you wish to purchase a property in may directly affect the kind of property you will end up looking at. Properties in a city centre or in close proximity, for example, are generally newer and more expensive blocks of flats or high rise apartments in order to save space. If you are looking for a spacious detached house or a quaint bungalow, you are more likely to find these in suburban areas. Very old buildings may have protective charters attached to them limiting the amount of redesigning and redecorating you are permitted to enact, whilst new builds are likely to be priced at a premium in comparison to second hand homes which have already been lived in.

In terms of facilities, flat blocks and apartments may or may not come with a balcony area, or a garden area either on the roof or on the ground floor. You should establish everything included in the property price, even if it is some distance away, including parking spaces and leisure facilities like a play area or pool. If you want your own garden, a larger house is likely to have one whilst a small terraced building may only have a small area of grass outside. Similarly, terraced houses may not have a driveway although some do come with on street parking, whilst larger houses may have a drive and/or garage.

Understanding the type of property you are looking to buy is essential to understanding what you will receive as part of that property. This also works in reverse; you may wish to establish all the facilities and details of the place you would like to live before investigating the kind of property which includes everything you want or need.