Your First Home: House vs Unit

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 couplesย 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

  • usually cheaper to buy; you might be able to afford an apartment in a suburb where the house prices are out of your reach
  • if you’re prepared to buy off the plan you could save money
  • often easier to maintain – ie less garden or outdoor space to upkeep
  • renovation costs may be less because there is less to renovate
  • typically located in areas that are close to shops and public transport
  • may come with communal amenities such as a pool, gym, entertaining area, laundry
  • might be limitations as to what you can do due to body corporate rules ie renovations
  • noise could be a factor when living in close proximity to others
  • capital growth of the property might be slow because you’re surrounded by similar properties
  • may have to pay body corporate fees.

House

  • you will typically get more for your money, especially if you don’t mind being in the outer suburbs
  • can extend or add to the dwelling if you want to (subject to council approval)
  • room to grow should you add to your family eg children, ageing parents
  • likely to have more outdoor space to enjoy: alfresco area, shed, garage, pool, pizza oven, keep chickens or pets
  • you’ll enjoy more privacy and less neighbourhood noise (usually but not always)
  • more to maintain ie. cleaning, painting, gardening, repairing
  • likely to enjoy higher capital gains growth.

Share:

More Posts

ELEVATE 2025

ELEVATE 2025 delivered an incredible day of learning, inspiration and connection. From powerhouse speakers to real-world insights, our team came away motivated and equipped to finish the year strong. Hereโ€™s a look at some of the moments that made it special. Thinking about your next move? Discover what a career at Noel Jones could look like here

Market Update | June 2025 Edition

Australia’s inflation remains steady, with annual growth at 2.4% in April. Underlying inflation, which is the Reserve Bankโ€™s key indicator also sits comfortably within the 2โ€“3% target range, coming in at 2.8%. In response, the RBA reduced the cash rate by 0.25% in May, bringing it down to 3.85%. This marks the second cut this year, providing relief to mortgage

Meet Our June CSP Grant Recipient

Meet Our June CSP Grant Recipient Weโ€™re proud to announce Box Hill City Band as the recipient of our June Community Support Grant. This talented group of young musicians, Box Hill Academy Brass, has won the Australian National Band Championships two years in a row and is now preparing to represent Australia at the prestigious New Zealand Brass Band Championships

Meet Our May CSP Grant Recipient

Meet Our May CSP Grant Recipient Since launching the Noel Jones Community Support Program, weโ€™ve proudly contributed over $45,000 across 30 grants to local groups and initiatives. From schools and sports clubs to charities and community organisations, these grants have helped support education, health, and social impact programs throughout our neighbourhoods. Our May 2025 grant has been awarded to Chirnside

Send Us A Message

Good Job!

Thanks for taking the time to let me know about your needs.

I look forward to helping you find your new home.โ€‹

Buyer Requirements

Thank you!

Iโ€™ll be in touch soon with information on the suburb youโ€™re buying in.

Find Out More