Now that you have saved enough money to make a substantial down payment on a property and secure a loan, you may be thinking now what?
Deciding what type of property you should buy can be a difficult decision - there are pros and cons to both and whatever choice you make will require a large financial commitment.
The key to your answer lies in your ideal lifestyle and plans for the future.
Owning a house requires significantly more of your time in management and upkeep - but it also offers the chance to have a bit more space and your own personal property.
Units are usually attached in some way to other resident dwellers and outdoor grounds are mainly shared.
However, mutual ownership often means maintenance is organised by property managers and service is paid for in monthly or annual fees.
The price for a unit can be cheaper than a house in high-density living areas, but is not as relevant in the outer suburbs and regional areas.
Returns on investments into houses and units fluctuate depending on the state of the market, so it is best to speak to an agent about specific figures in your local area.
