The pros and cons of houses versus villas/townhouses/units

Transcript
“Hello and welcome back to daily buying tips, I’m Dean Berman from Berman Buys.

Today were going to talk about the pros and cons of houses versus villas/townhouses/units.

A Torrens Title freestanding house means you own the land and property.

Strata Title means you own a part of the combined strata.

There are some differences between both ownership methods.

Having a freestanding house means you can virtually do what you want with the look of your exterior.

In a strata complex this wouldn’t be possible, as you would need approval as this would be common property.

You can generally extend and knockdown rebuild with a house.

With a strata property you are typically confined to renovating the internal spaces.

Houses tend to be slightly more secluded.

Strata complex’s tend to be more dense and closer to your neighbours.

Houses tend to be more expensive than a strata property.

This means you will usually be able to purchase a strata property closer to the city.

The house would usually be further out.

Historically houses have appreciated more.

Strata properties, typically units have historically tended to yield slightly better.

There is a trend however towards more dense/built up living.

Some people don’t like houses due to maintenance and upkeep.

Some like strata properties because this is usually looked after by the strata.

You tend to pay strata rates which many don’t like.

With a house you don’t have any strata rates.

Strata properties can be in more prime locations particularly units.

Meaning nearer to shops and transport in many instances.

Houses seem to be more commonly associated with families.

However, in my opinion society is becoming more open to strata living.

At the end of the day it comes down to affordability.

If you really need to live in a certain area.

But can’t afford the houses, there’s nothing wrong with villas, townhouses or units.”