Should you buy a flat or a house?
A house or an apartment? If you’re in the market for your first property, this might be a choice you need to make soon.
Coming of age as a homebuyer is a significant milestone but not one that comes without a few serious considerations. Should you buy a house or apartment as your first home? Though the cost greatly influences the decision, money isn’t the only factor you should take into consideration before setting your heart on a property. Your personal needs, taste and lifestyle should also play a big role in whether you decide to buy or lease a vehicle. In this article we outline under which circumstances
Affordability
Houses and apartments each have their own cost implications. Not just up-front costs, but also to insure and repair. It’s generally cheaper to buy and maintain an apartment than a house.
Location
Buying a house means you’ll likely live in the outskirts of town, away from work and amenities. Many apartments are located near city centres or central business districts, within walking distance to schools, restaurants, and shopping malls, and a short commute to work.
Maintenance
It’s much easier to perform maintenance tasks in an apartment. A house can be a lot of work, and if you’re a busybody or hate DIY projects, the prospect of mowing lawns and cleaning the gutters may not be appealing.
Security. Single family houses are often attractive targets for burglars as they have multiple access points and a therefore more difficult to secure because, whereas an apartment complex has several layers of security such as an access-controlled gate, surveillance cameras and security guards.
Lifestyle
If you love to host dinner parties, holiday gatherings, even New Year’s Eve bashes, choosing a house over an apartment may make more sense as rowdy gatherings will likely draw complaints from neighbours in an apartment block.
As mentioned above, there are various factors to take into account when choosing between a house and an apartment. Would you prefer the space and privacy of a house? Or, would you prefer the extra safety and low maintenance that comes with an apartment? The choice is yours.
