If you are considering buying your first investment property, you might be wondering what makes a better investment, a house or an apartment?
The answer to that question depends on a combination of factors. We take a look at some of the positive aspects of apartments and houses.
Mike Greeff, Chief Executive of Greeff Christie’s International Real Estate said, "Investing in real estate is always a wise decision. There are very good returns to be made on both options provided you know the purpose of the purchase. Is this your starter home? Are you buying to let? Are you thinking about an Airbnb service? Before looking for a house or an apartment, decide what works best for you, then call an expert. A good agent from a reputable agency will be able to guide you through the process and will help you find your perfect fit. Current market conditions mean that buyers have more options available to them and have a bit more room to negotiate".
The first point that one would have to consider is the amount of space that you actually need. The answer to that would depend on your personal circumstances. Are you a couple that has just started out a journey together? Or are you the average family with two kids and a pet? The single buyer will more often than not choose an apartment - single bedroom, open-plan and representative of their personality.
The single budget is slightly limited which often leads to a single person’s first apartment eventually becoming their income generator or deposit on the home of their dreams. Another selling point for apartment buyers is the access to common facilities within the complex.