If you're at a point in your journey where you're more than ready to buy property, you're most likely faced with this dilemma:
 
"What type of property should I buy?"
 
Today, we're going to address the age old question - should I buy a house or an apartment? We'll be listing down the pros and cons for each and explain why they may or may not be beneficial as a first-time purchase.
 
There are a lot of misconceptions about apartments and strata property in general, and we want to clear a lot of these up for you so you can make better decisions!
 
If you enjoy this episode, do give us a like, share it with others who you know will benefit from the show and subscribe to the podcast! We have loads of resources available and if you'd like to talk with us directly, send us an email at [email protected]!
 
See you on the inside!
Episode Highlights:
● Meighan's featured house for the episode (The Flintstone House) [02:17]
● Why this question needs to be tackled & clarified [04:07]
● What are some apartment pros? [06:15]
     ● Apartments have a lower price point [07:56]
     ● The potential to keep the property as an investment [08:46]
     ● There's more flexibility with owning a house than an apartment [12:37]
     ● Apartments are easier to renovate (with a few constraints) [13:08]
     ● Costs are shared between you and other tenants in the complex [15:17]
● Apartment cons [16:49]
     ● The tendency to outgrow the space quicker [16:54]
     ● There's a danger of having an oversupply [18:45]
     ● Strata fees [20:03]
     ● A complex's special rules for pets, air-conditioning, and others [21:51]
     ● They typically have a slower capital growth [25:11]
● Let's talk about house pros! [26:11]
     ● The potential to extend and build on your property [27:17]
     ● There's more freedom to do what you want, when you want [28:12]
     ● You can choose what renovations to do depending on your budget [30:03]
● A house is more expensive than an apartment [31:45]
● If anything goes wrong, 100% of it is your problem! [32:13]
● Houses are generally further away from the CBD, for the same price [33:10]
● Neighbours aren't governed by the same rules as strata neighbours [34:22]
Links from the Show:
● Check out the Stepping Stone Tutorial
● Get fully prepared to buy property through Your First Home Buyer Guide!
● Our episode on Building & Pest Inspections with Peter Masia
If you enjoyed today's podcast, don't forget to subscribe, rate and share the show! There's more to come, so we hope to have you along with us on this journey!
How ready are you to buy your first home?
  Co-Founders

Veronica Morgan & Meighan Wells 

Veronica & Meighan are both licensed real estate agents who exclusively help buyers. Together they have nearly 40 years experience as property professionals.

Veronica is principal of Sydney based Good Deeds Property Buyers and is also co-host of The Elephant in the Room property podcast as well as Location Location Location Australia on Foxtel and author of Auction Ready: how to buy property at auction even though you're scared s#!tless!

Meighan is the multi award winning principal of Brisbane based Property Pursuit, chairperson of the REIQ Buyers Agent Chapter & a regular media commentator.

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