House or Apartment? The first home owners debate

 

While blogger, Jennifer K, didn’t buy an apartment as her first home, the apartment-lifestyle has its attractions.

When I was younger – I’m talking well before I ever considered buying my first home – I loved the idea of living in an apartment right in the middle of the city, with everything at your fingertips and prime position for NYE fireworks.

While this is not where I have ended up, I would have definitely considered buying an apartment or townhouse as a first home had I looked at making such a purchase at an earlier age.

Apartment-style living is suggested to be becoming more popular these days.

Okay… maybe NYE celebrations aren’t such a big factor, but part of what makes the apartment-lifestyle so attractive is the potential for being close to a  CBD, low maintenance and affordability (though there are ample examples of apartments that would never tick my ‘affordability’ box).

Often, asking prices for apartments in comparison to stand-alone housing in the same suburb are significantly lower, making it a more affordable way to enter the market in your ideal location.

Also, not having a lawn to mow, gutters to clean and everything else that comes with purchasing a stand-alone house, allows for a lot more time spent the way you want. Longer working hours result in many people being time-poor these days, making apartment living more of a lifestyle choice. For many, not having the worry of a massive commute to work each day is a big incentive.

On that note, even if it is not a city apartment, having weekends free of house and yard maintenance work can be positive.

Apartment-style living may just be an excellent way to get into the market if you are looking for a low-maintenance, desirable home with the ability to set yourself up for the future given the potential of turning your apartment into an investment property down the track.

 

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House or Apartment? The first home owners debate