The Difference Between Units And Houses For Sale In Sydney

If you are in the market for an investment property, you are probably tossing up between looking at units or houses for sale in Sydney. There are plenty of different factors to take into consideration when choosing the right property type for your needs, and it's common for people, especially first investment property buyers, to think long and hard when comparing the two options. Both houses and units have their benefits, so it is worth looking at issues such as your goals, your finances, and the current state of the housing market in the area you are looking to buy. Before you look in depth into those points, you should take a look at the most common differences between units and houses for sale in Sydney. 

House For Sale in Sydney

Looking at houses for sale in Sydney

Most people aspire to own their own home, because they are bigger, fit large families, and can be renovated or updated to suit any lifestyle or family changes. These are also some of the reasons why they are so attractive to buyers. The land that houses are built on also tends to be far more superior in terms of long-term capital appreciation. Choosing a house over a unit means that you have plenty of freedom when it comes to what you do with it, however, this also means that all maintenance, upkeep, and council rates fall on your shoulders. Insurance premiums can also be much more expensive for houses because of their size and security requirements. 

Comparing units to houses for sale in Sydney 
Unlike houses for sale in Sydney, units are much smaller buildings, grouped together on the same block of land. Unlike houses, units tend to share common areas, facilities, and body corporate. Units are also often considerably cheaper than houses, and are located in areas closer to the Sydney CBD, or to transport networks, major working roads, and retail amenities. Units also typically have lower running costs and require less upkeep, making them great first properties.

What is better value?

In general, houses and units can earn about the same if you choose to rent them out, however, you can charge more for the rent of a house if you renovate it at a later date. If money is tight, you might be better off to start small with a unit, that way you can recuperate your money and pay it off quicker as units are in high demand to rent. In reality, both options can provide you with good long-term investment opportunities. No matter which one you choose as your final decision, it's important to remember that you need to purchase within your financial means. So, always be selective with what you choose, and make sure you don't rush your decision. 

It's important to make sure you think things through carefully, and purchase with your head, not with your emotions. When you need help securing either units or houses for sale in Sydney, be sure to talk to the property experts.

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