A self contained flat that has been converted out of part of a larger property
building or dwelling.
Commonly these types of flats are created from Victorian properties due to their
size and resulting ease of turning them into multi highly desirable dwellings.
In their unconverted state they can be too expensive to sell and run but in
smaller portions they are often more manageable and can usually attain higher
resale values than the sum of their parts.
Unlike purpose built flats converted flats come with some things that you should
be aware of:-
It is important to check the suitability of a converted flat for example who is
responsible for the communal areas who has access to the back and the front
gardens and who is responsible for maintaining the building.
You should ensure that the property has been set up on a long lease and there is
suitable contingency for repairs and the building is insured.