Should You Buy a House or an Apartment?
This is a common question asked by property investors throughout Australia, and is the subject of great debate amongst property experts. Apartments as Investments Traditionally, property owners, particularly in the baby boomer generation, aimed to buy a house on a good sized block of land with a decent backyard – “the great quarter acre Australian dream”. This is changing somewhat as the demographics of our major cities are shifting and more and more and buyers are favouring smaller dwellings in central locations which are handy to places of work, with strong public transport and close proximity to trendy cafes, bars and restaurants. Young professionals, couples, overseas immigrants and down-sizers are the most common types of buyer in this market segment. Even without considering the usual location benefits that they offer, the other reasons that apartments and townhouses are now a popular option are: 1) Increased security 2) Lower maintenance 3) More modern la...