When you start your property search, you quickly get an idea of the property of your dreams. As a buyer, you may be seduced by the exteriors and gardens or by the breathtaking view over the rooftops of the city. However, we do not always know what type of property would be the most advantageous, and sometimes, choosing a house rather than an apartment, or vice versa, can hold some surprises for you.
The Purchase Price
Generally, buying a house, even if it is in town, costs less per m2 than an apartment. However, this argument is not valid for the real estate market in large cities, which is more dynamic and where demand is greater.
For example, buying a house in this country costs $ 7,889 / m 2, while the price of an apartment is around $ 7,790 / m 2. You can find a beautiful home 140m 2 with a garden, in the heart of the city $ 1.45 million. An apartment in the same area of 210m 2 redesigned by an architect and with an interior garden costs only $ 950,000 or almost $ 500,000 cheaper.
On the other hand, buying a house, for example, is less expensive than an apartment. You can find a beautiful house renovated with three bedrooms and an exterior of 70m 2 to 100m from the beaches displayed at $ 487,000. A residence for the same area and the same services with the considerable porch posted at $ 750,000.
Expenses Related To Your Property
When you buy a house and want to carry out work such as renovating the roof, cutting down the facade, or even undertaking development work, you can do what you want. However, the owner takes full financial responsibility. When buying an apartment, the work on the common areas is done by the condominium and the price is divided between the different owners.
In either case, it is essential to take a good look at the exterior of the property you are visiting because a weak surface, even on property considered to be a good deal, is a future financial liability. The outside counts as much as the inside.
Taxes for the Property
Whether for a house or an apartment, the housing tax and the property tax are calculated according to the surface of the property. But you have to be careful because when an apartment has 4 rooms, it is rare to find additional rooms. For a house, on the other hand, additional rooms can be added to the basic description such as a garage or an outbuilding, and quickly increase the bill.
Rather Apartment or House?
Obviously, the future property of your dreams should not be chosen solely on the basis of these essential financial criteria. You generally choose an apartment when you are looking to buy in a big city or when you are a fan of pretty open views. The choice of a house is often made for people who like to benefit from an exterior. But there are alternatives if you think you can’t afford to buy a house. Apartments on the ground floor are often shunned by real estate buyers, while they remain a good alternative for having an outdoor space as long as they overlook the courtyard or a private garden. It is on these kinds of goods that are underestimated by buyers that it is still possible to get good deals.