28/03/2022
Apartment vs House ? đ¤
Location
City centre homes usually comprise apartment buildings. If you work in the city centre then an apartment will be the cheaper and more suitable option in regards to commute.
Cost
The cost between freehold (where you own the property and the land it sits on) and leasehold (where you own the property only) is minimal. However, you are responsible for all maintenance costs if you own a house as well as being typically more expensive.
Neighbours
Neighbours can be a big factor to people. A house is generally larger than an apartment which allows more for privacy and better sound insulation.
Safety
On average, sole occupiers feel safer in an apartment due to the multiple access doors on the building. Many apartment buildings also offer a concierge service.
Garden
A garden is one of the main differences between a house and apartment. If youâre green fingered then an apartment most likely wouldnât be for you.
Return of investment
If investing your money is your goal as first-time home buyer, there are a few factors to consider.
A house is typically easier to carry out restoration works rather than an apartment. However, an apartment is generally cheaper to buy. There is also a larger rental market for flats which could mean a more regular income.