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House or Unit?



Buying a house or an apartment both involve trade-offs. So which option is right for you?


Buying a house has pros:


  • Houses generally enjoy higher long-term capital growth than units

  • Houses have more space than units

  • You can do renovations to increase a house’s value

  • You don’t need approval from an owners corporation to make improvements

  • You don’t have to pay strata fees


Buying a house also has cons:


  • Houses cost more to buy than units

  • Houses cost more to maintain than units

  • Houses cost more to insure than units

  • Houses don’t have on-site facilities and may have fewer local amenities than units

  • For property investors, houses generally have lower yields than units


Here are the pros of buying an apartment:


  • Units cost less to buy than houses

  • Units cost less to maintain than houses

  • Units cost less to insure than houses

  • Units may have on-site facilities and more local amenities than houses

  • For property investors, units generally have higher yields than houses


And here are the cons:


  • Units generally earn lower long-term capital growth than units

  • Units have less space than houses

  • You can’t do renovations

  • You’re restricted in the renovations you can do to increase a unit’s value

  • You need approval from an owners corporation to make improvements

  • You have to pay strata fees


To discuss your options, whether you want to buy a house or unit, call us on 1300 635 235.

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