There are a number of potential advantages and disadvantages to buying a house or an apartment. Here are a few considerations,
Pros:
- Autonomy over the property
- Attractive to the family
- Possibility of renovating/enlarging
- No management fees
Cons:
- More to maintain (i.e., yard, garage)
- The convenience of having facilities within one roof (e.g GYM, Pool, Clubhouse, Etc)
- Typically requires a larger deposit
There are plenty of pluses and minuses to buying apartments as investments, too. Here are a few considerations:
Pros:
- Payments can be stretched and special payment plans may be on offer for a New Development while an upfront payment will be required for a completed apartment.
- Less maintenance in comparison to a house
- Services such as 24 hours security and access to common amenities such as a Gymnasium, Swimming Pool etc.
Cons:
- Usually smaller and more compact in comparison to houses
- Pets may not be permitted in most apartment complexes
- Customization of your property may not be possible