Finding a home: What type of property suits you best?

Depending on where we are in our lives, different types of properties are going to suit different people.  People with families are going to need different attributes than a young professional starting out with their first house.  And you may or may not want to do renovations to a property to transform it into the perfect home.

There are a range of properties around but the most popular are apartments and houses. 

Apartments

Apartments are more often based in the inner city, so they may  suit people wanting to be closer to a range of amenities (and often their workplace), and those who like the bustle of what a city can bring to their doorstep.  However, because of their sought after location they are usually more expensive than a house of a similar size.

Apartments are generally very low maintenance, largely due to the lack of outdoor space.  On the other hand, many people like to have an area where they can have a barbeque, do a bit of gardening and generally relax outside.

Although it depends on the floor area, apartments are generally a more compact way of living, but effective storage and living solutions can reduce clutter and contribute to a more spacious appearance.  Some fairly standard house features aren’t always a given with apartments, so they need to be factored in when considering the total price of ownership.

Apartments are however governed by a Body Corporate, who outlines the rules you must abide by.  This can have an effect on what you can do with your property, including whether you can sublet or even whether you can have pets.   Included in your Body Corporate fees are things like the maintenance of the building and shared facilities, such as staircases, lifts, and waste disposal facilities. 

Houses

Houses on the other hand can offer more space, both indoor and outdoor, but may require more time and money to maintain, especially if they are older.  If you have a large family, a few kids for example, a house provides better opportunities for each person to have their own room to escape to.

Houses also tend to be a bit further out from the city centre so transport needs to be considered if you’ll be commuting.  Some may be able to get the train or bus, but others who decide to drive might need to factor in long peak hour delays and parking.

Read our Buyer's Checklist to see what else you need to consider