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House VS Apartment in Australia? Which is better?

Source: realestate.com.au



It is always a very common dilemma on investing a house and land package or an apartment. Especially for a first home buyer, they will make the largest investment of their kind for the first time and this can be a big decision for them. For this reason, the property buyers have to weigh up the pros and cons for both in order to make a right decision.


· Affordability and comfortability

House and land package as an “all-inclusive” package, especially in newly-established area, is more affordable compared to an apartment. The purchase price includes both a vacant block of land, as well as the cost to construct a house on it. Moreover, the house and land packages usually will offer something brand-new such as gate and this can save some money for you. The most attractive is that, you can decide everything from layout to materials based on your needs and desires. So if you want to stay in a spacious house with your desired design, the house and land package will be suitable for you.

· Conveniency

With affordability, comes compromise on conveniency due to location and amenity. Since mostly the house and land packages located in the newly-established area, which is quite far from the urban area, therefore the long travel time and lack of amenity can cause the inconvenience for the residents. On the contrary, most apartments are conveniently located, the residents can even walk wherever they want without any transportations. Therefore, you should go for an apartment if you are more emphasized on conveniency.

· Rental

Melbourne-based buyer’s advocate Cate Bakos said, “apartments offer low maintenance and ready access to amenities you just don’t get on the outskirts of town.” In this case, if you are thinking to rent out the property, a house in an estate can be tricky to rent out. The vacancy rates will be higher and it’s a big ask to get someone excited about renting a property that’s maybe an hour away from where they work. People may prefer to rent an apartment that they may simply walk to working place or shopping mall within few minutes. Hence, the apartment will be easier to be rent out due to the location and conveniency.


Above are some characteristics for both house and land packages as well as apartments. Whether to go for a house and land package or an apartment, this depends on which features you prefer. If you prefer to custom your own style and live in a quiet place, then choose house and land package. If conveniency is more important for you, then just go for apartment.


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