Buying An Apartment Or A House – What To Weigh Up?

Are you on the fence about buying an apartment or a house? This is a dilemma first-time homebuyers encounter regularly. Typically, location and affordability drive the decision between these two types of properties. In most cases, apartments are less expensive than houses, but costs might vary greatly depending on the city.

For instance, in some suburbs, your budget may allow you to buy a spacious three-bedroom house, but in others, it may only allow you to buy a small one-bedroom apartment. Ultimately, only you can decide exactly what you want. And to do so, you must first establish your objectives and desired lifestyle.

In this article, we’ll discuss the considerations you should make before deciding whether to buy an apartment or a house.

What Should You Consider When Buying An Apartment Or A House?


If you’re looking to buy a home, proximity to well-paying jobs is an important factor in deciding the value of the property. Generally speaking, apartments are more numerous in inner-ring suburbs that are close to train lines, commercial centres cafes, restaurants and bars. Houses that are within first-time home buyer budgets are more popular in outlying suburbs. If you can afford an apartment in a better location than a house, it’s definitely worth considering.


Homebuyers place a premium on being close to their favourite recreational and cultural destinations, as well as schools in the case of families. Apartments often come with rooftop terraces and pools, as well as access to gyms, parks, and community gardens. Those who own a house can renovate it in compliance with municipal construction codes, but apartment owners are often subject to the rules of the homeowners’ association. In most cases, local ordinances may prohibit dogs and laundry on balconies. You may also need approval to install new flooring or air conditioning.

Cost Of Property

When deciding whether to rent an apartment or buy a home, look for the best value for your money. Due to the lower cost of apartments compared to houses, purchasing one could save you money and result in a cheaper mortgage payment. However, if you purchase in an area with a high concentration of apartment buildings, they may offer less capital growth potential than a house.

Aspects Of Planning

House owners are responsible for maintaining their gardens and lawns, but apartments save resources because the shared property is managed by the owners’ corporations. Houses frequently have greater taxes, insurance, heating and cooling costs while apartments include strata fees that help fund administration and amenities like pools and gyms. Apartments can be noisy and lack privacy, whereas houses are more accommodating for families.

Final Thoughts

Whether you are an owner-occupier or an investor you should examine your needs before making a decision. Is a compact inner-city apartment the greatest option for a young couple planning to establish a family? Do you really need a huge five-bedroom house if your kids will be leaving in a few years? It all depends on what you need today and in the future.

Want to learn more about buying a home or apartment? Contact us to discuss your property requirements. We look forwards to assisting you.



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