Property Investing: House Or Apartment, That Is The Question!
Which is the better property to invest in: a house or an apartment? Experts say that when it comes to property investing, an apartment is a better decision and this despite the fact that many people who are looking to invest in property prefer to invest in a house. The reason they give is simple and they want a detached house with enough room for outdoor activities.
There are several things to take into account before you make the final decision:
- A house, despite having a lower property value may in the long run, may be a better investment because it comes along with a piece of land. That means that should you decide to sell, you will sell both house and land.
- A house comes with the added cost of maintenance; if you have a yard and a garden as well as a driveway, they will cost time and money to keep in good condition.
- If you invest in an apartment, you will not get these added costs, and in the current market, apartments seem to be a better investment and people are willing to pay more for them. For you, this means that your end game is what matters and if you are buying property so that you can rent or lease, an apartment will make you more money.
- In the shorter time, the value of an apartment appreciates more than it would for a house, but in the long term, like over a period of ten years, the annual average increase in the house is higher.
With all these things taken into account, the final decision about your property investing is the location; whether you invest in an apartment or you invest in a house, its location determines its value.