Ground Floor VS First Floor - Rent

[Mario2566]

Hi All,

I hope everyone is well.

I am looking into investing a flat/apartment so I can rent it out on Air Bnb in the future.

I have seen two units in the same building, which have exactly the same layout, size and similar condition. The difference is that one is ground floor and the other is 1st floor. There is only 1 other flat above, so the building is not very tall and only goes up to 2nd floor flats.

Please could you share your thoughts on which would be worth more rent? I have heard mixed views with pros and cons of both including the below with some more information about the units. So far I can only see 1 major Pro for a ground floor flat and 3 Pros for the first floor flat.

- Heating (1st Floor Flat wins): Heat rises so the first floor flat will require less heating and save money in this respect.

- Noise (1st Floor Flat wins): The Ground Floor flat bedroom is right next to the main entrance, so this would be a lot more prone to the noise when people enter and leave the building. When staying in Ground Floor Flats myself, this noise woke me up a few times and I know of others who have had this issue too. I have not experienced this issue as much with 1st Floor Flats.

- Accessibility (Ground Floor Flat wins): The ground floor flat requires no stairs and therefore less issues for the elderly or those with injuries and conditions. Only 1 flight of stairs is required for the 1st floor flat, but there is no communal lift/elevator. No pets are allowed in the building and no private garden, so these are excluded from the benefits for that some ground floor flats would have.

- Security and Privacy (1st Floor Flat wins): Ground Floor flats are more of a security issue; some would not feel comfortable sleeping with the window open as anyone could enter that way. It is also worth mentioning that this is in London, where air condition cannot be installed, and it does get uncomfortable hot during the summers so some may want to open the windows. The first floor flat is high enough where a ladder would be needed to enter through the windows.

Thank you in advance.

[Gordon0]

Kudos for the research, @Mario2566, but I think - from an Airbnb guest's perspective - you might be overthinking it. 

Heating

Most guests will heat the property to their liking on their terms (they might have the window open while the boiler is pumping away too). They see it as free gas/electric, even tho it clearly isn't. No win.

Noise
From your description, it's a small building so noise will be minimal and there won't be much difference upstairs/downstairs. No win.    

Accessibility 

Most (depending on your location) are here for the weekend. Accessibility isn't likely to be a 'thing', especially as it's one flight of stairs. Negligible win.

Security and privacy
Millions of Londoners live in ground floor flats (or houses with ground floor rooms, as I do) and as long as you have the relevant level of security (and don't live in a dog-rough part of town), this is a non-issue. No win. 

What you should be focusing on, certainly in my opinion, is kitting the place out for your target market, making sure it's clean as a whistle (and then some), and providing the best level of hospitality you can. 

[Mario2566]

Thank you @Gordon0, much appreciated.

I agree it doesn't matter too much, but both the flats are going for pretty much the same price so I can only put an offer in for one.

[Mike-And-Jane0]

@Mario2566 are you aware the restrictions on short term rentals in London?

[Lorna170]

@Mario2566  As a traveler, I would want the first floor flat as I would be new to the neighborhood and would feel more secure.  I am an older person, but one flight of stairs would not deter me if the flat is lovely and where I want to be located within the city.  

How much noise travels down from the 2nd floor flat?  Is the stairwell to the second floor close to the bedroom or the living area?