All Topics / General Property / Should I buy a unit or house?????

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  • Profile photo of RoseRose
    Member
    @rose
    Join Date: 2004
    Post Count: 27

    Hi Everyone,

    I now have at least $37,000 money that I can use to invest in either a unit or a house. I am tossing between the two and not sure about buying another unit – I find the annual corporate fees on top of the council rates quite high. I guess with a house you don’t have that plus you get a block of land which is fast becoming rare.

    Any advice would be much appreciated.[biggrin]

    Thanks to everyone.
    Rose
    http://www.elegantdog.biz

    Rose

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    Just remember that it is land that appreciates and buildings that depreciate. So in theory, a house would be better as it has more land content than a flat. But a flat may give you more depriciation making it better short term.

    Terryw
    Discover Home Loans
    North Sydney
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://structuring.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of Mobile MortgageMobile Mortgage
    Member
    @mobile-mortgage
    Join Date: 2003
    Post Count: 913

    Hi Rose,
    This article on the residex web site may be of interest to you,
    http://www.residex.com.au/index.php?content=article12

    Regards
    Steven
    Mortgage Broker

    [email protected]
    http://www.mobilemortgagemarket.com.au
    Ph:0402483216
    Ph:1800 820 500
    VICTORIA

    PLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.

    Profile photo of Mortgage HunterMortgage Hunter
    Participant
    @mortgage-hunter
    Join Date: 2003
    Post Count: 3,781

    All things being equal I personally would choose a house.

    But things aren’t equal and a unit with a terrific location and outlook might be preferable to an average house.

    As in most things it is very much an individual choice.

    All the best,

    Simon Macks
    Mortgage Broker
    http://www.mortgagehunter.com.au
    0425 228 985

    3 year fixed rate – 6.69%

    Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

    Profile photo of Michael RMichael R
    Member
    @michael-r
    Join Date: 2003
    Post Count: 302

    “it is land that appreciates and buildings that depreciate.”

    Apartments typically have a land component in the valuation.

    Houses can depreciate as much if not more than an apartment.

    Apartments in the right location can appreciate at a faster rate than houses in the same vicinity.

    — Michael

    Profile photo of AUSPROPAUSPROP
    Participant
    @ausprop
    Join Date: 2003
    Post Count: 953

    …particularly with the changing demographic. I can’t see too many divorcees or old ladies wanting to live in all the McMansions being thrown up out in the sticks



    Extensive list of ‘Off The Plan’ property available for sale in Perth.

    John – 0419 198 856

    Profile photo of BlitzemBlitzem
    Participant
    @blitzem
    Join Date: 2004
    Post Count: 19

    The median growth rates for houses in the Noosa Shire QLD out perform the units over the last 20 yrs.
    I guess position is always critcal.
    Cheers

    Chad

    Profile photo of kay henrykay henry
    Member
    @kay-henry
    Join Date: 2003
    Post Count: 2,737

    I think also that apartments are relatively new to the RE landscape in australia- as in, the first suburban units were built in the 60’s or thereabouts (we called ’em flats back in them days- hehe).

    New apartments are a bit “new york” now… and young people will grow up thinking they’re deirable, whereas in the past, they WEREN’T desirable- as in the 60’s blocks- well, there were some art deco ones but that’s another story. When i was a child, really the only units around were Department of Housing units, and units in general, were considered the very poor cousin to houses.

    Props, you mention the McMansions- I agree- the Kath and Kim suburbs are going to be less desirable, I reckon, when urban Gen Y’s grow up, than living in some of the newer apartment blocks. I just can’t imagine Y-geners doing the washing their car in the drive on the weekend in suburbia, thing. I think they’ll be far less attached to domesticity than baby bomers and late X-gens. And Y Gen are going to be our tenants in the next generation of tenants.

    kay henry

    kay henry

    Profile photo of Smart CookieSmart Cookie
    Participant
    @smart-cookie
    Join Date: 2004
    Post Count: 33

    Go the house….they’rt making anyone more land.

    Kind regards,
    Smart Cookie

    T (02) 9501-2531
    F (02) 9501-2541
    M 0408-440-453
    W http://www.smartcookie.com.au

    Profile photo of Smart CookieSmart Cookie
    Participant
    @smart-cookie
    Join Date: 2004
    Post Count: 33

    should have read….the not making any more land!!

    Kind regards,
    Smart Cookie

    T (02) 9501-2531
    F (02) 9501-2541
    M 0408-440-453
    W http://www.smartcookie.com.au

    Profile photo of AUSPROPAUSPROP
    Participant
    @ausprop
    Join Date: 2003
    Post Count: 953

    yes but not all land is created equal – the land content of a unit may be just as valuable as 500sqm’s out in the sticks



    Extensive list of ‘Off The Plan’ property available for sale in Perth.

    John – 0419 198 856

    Profile photo of DerekDerek
    Member
    @derek
    Join Date: 2004
    Post Count: 3,544

    Hi all,

    To me it’s not a question of house or unit per se – but more about what is the relative value of the piece of land that the property sits on.

    Derek
    [email protected]

    Property Investment Support Available. Ongoing and never stopping. PM welcome.

    Profile photo of PropertyGuruPropertyGuru
    Participant
    @propertyguru
    Join Date: 2003
    Post Count: 1,502

    It’s also depends what you can affort and where or which area you want to buy.

    Cheers
    PropertyGuRu
    [sultan]

    Mortgage Consultant

    Profile photo of AceyduceyAceyducey
    Participant
    @aceyducey
    Join Date: 2003
    Post Count: 651

    And your investment strategy :)

    If buying units or townhouses it’s best to own all of them & get rid of the body corporate issues.

    Cheers,

    Aceyducey


    In theory, there is no difference between theory and practice. But, in practice, there is.

    – Jan L.A. van de Snepscheut

    Profile photo of Freedom_2Freedom_2
    Member
    @freedom_2
    Join Date: 2002
    Post Count: 23

    For Me, Townhouses so you still get land component,if it is for long term,then it suits uni Students,Generation X and Y not too mention stats that show 35% of all house hold will be single people in 10 to 15 years time,for a number of reasons.

    Tony

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