Why You'll Regret Buying a Unit in 2021

The housing market juggernaut is still on a rampage. Capital city house prices have risen 14 per cent since September last year. And in some parts of the country, they've gone up near 24 per cent! Pretty depressing if you're looking to buy a house at the moment.

First home buyers are facing a difficult decision. Do you give up on your dream of owning a house completely? Or do you compromise and buy a unit instead?

Many first home buyers are choosing to do the latter. Priced out of the market for a house, they are purchasing apartments and units instead. Should you do the same?

In this video, we'll do a deep dive into the pros and cons of buying a house versus buying a unit or apartment. Specifically, we'll take a look at:

- The difference in prices between houses and units
- The advantages and disadvantages between the two types of properties
- Some critical things to look out for if you do decide to purchase a unit or apartment.

The video I mentioned on Mascot Towers is - https://www.youtube.com/watch?v=Pv66_HrKbR8

References

- FHB forced to buy apartments as they are priced out of housing market
- https://www.afr.com/property/residential/outpriced-first-home-buyers-turning-to-new-apartments-20210803-p58fd9
- Buying a home has never been more out of reach
- https://www.abc.net.au/triplej/programs/hack/why-buying-a-house-has-slipped-out-of-reach-for-young-people/13482024?fbclid=IwAR3br_FydOkknPZLXsbMr1czuIEEhLEZoa1U0bREpFpaF0aD7ds2mFb4Hxs
- Premium between units and houses at all time highs
- https://www.corelogic.com.au/news/premium-houses-over-units-has-hit-record-highs-which-capital-city-shows-biggest-gap
- Longer term trends
- https://www.therealestateconversation.com.au/blog/james-nihill/house-vs-unit-what-trends-does-2020-bring-property-investment/australian-real
- https://www.momentumwealth.com.au/houses-vs-units-what-does-the-data-say/

For more info https://www.huntergalloway.com.au/ 

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Mortgage Broker Brisbane - Hunter Galloway
Head Office: 3 Latrobe Tce Paddington QLD 4064
PO Box 841, Paddington QLD 4064
CBD Office: Level 20, 300 Queen Street Brisbane, QLD 4000

Hunter Galloway are an Award Winning Mortgage Broker based in Brisbane. We help clients from our local area, Australia, and all over the world. We believe buying a home should be stress-free and uncomplicated, and we will work for you to make your dreams become reality.

Next steps and settling your first home

Our team here at Hunter Galloway is here to help you buy a home in Brisbane. Nathan & Joshua Vecchio are Senior Mortgage brokers who specialise in making your home journey easy.

Unlike other mortgage brokers who are just one person operators, we have an entire team of experts to help make your home loan journey as simple as possible.

If you want to get started, please get in touch and we can book a time that suits you – either a phone call information session or a face to face meeting (which doesn’t cost anything for you).

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