Each have their own advantages and disadvantages which you should take into consideration:
- Many first home buyers and investors buy apartments due to the lower price range when compared to a freestanding dwelling and the convenience to amenities, employment centres, entertainment and lifestyle precincts
- Many inner city apartments are conveniently located within walking distance to universities, employment and other amenities
- Rental yield from an apartment can offer decent returns, but capital growth lags behind a freestanding house
- Many inner city apartments close to universities and other educational institutes are benefiting from strong offshore student demand and the anecdotal trend of baby boomers downsizing
- Costs of owning a unit include council rates, taxes and strata or bordy corporate fees. There may also be additional costs involved if body corporate decide to refurbish the building
- You have security over land, which allows for a range of subdivision and development uses
- Freehold houses are generally considered to be the better growth investment but not always the better income earner
- Cost of ownership with a house include council rates and taxes
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