Buying your first home is one of the most exciting things you’ll do in life. It’s right up there with marriage and having children on the major milestones scale.

In the past, young couples would typically buy a house that may have seen better days, located in an area they could afford. They’d spend the following few years doing it up or putting their own stamp on it until they could afford something better.

Things have changed and in many of the outer eastern suburbs, older homes are being replaced by modern apartments, townhouses and units, giving young buyers a wider range of choice when it comes to purchasing their first home. And it’s not just couples who are purchasing their first home, there is a rise in the number of singles securing their place in the property market as well.

Deciding on which type of property is right will depend on the person/couple, their circumstances, where they want to live and what their plans for the future are. Each type of property has their pros and cons as you can see by our comparison below.

Apartment, Townhouse, Unit

House