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House and Land Package vs. Apartments? Which One Should I Buy?

If you’ve got a limited budget but are looking to buy, it can be difficult to choose whether you should go for an apartment or a house and land package. To help you decide, it is important to look at the benefits and drawbacks of each option.


Benefits of House & Land Package

Some consider investing in a house and land package as a pure investment, as they can be more affordable compared to apartments. While the design and structure of these houses are often in line with the modern requirements, this also makes it more appealing to buyers.


Drawbacks of House & Land Package

It is important to note that a vast majority of house and land packages are located far from the city centre. Therefore, the first drawback can be long travel times due to road congestion.

Secondly, living far from the city center can affect your lifestyle as these areas also have fewer facilities compared to suburbs near the city.

It may be hard to rent a property that is one hour away from the CBD, however it really depends on each city and the lifestyle around that suburb. As cities expand, the outer ring is slowly becoming the inner ring, so from a long term perspective, the location will become what’s considered ‘close’ in 20 years time.


Benefits of an Apartment

Most central business districts (CBD) are filled with apartments, meaning locality wise you’re in the heart of everything.  Another benefit of buying an apartment is that in some cases, they have lower maintenance costs compared to house and land packages.


Drawbacks of an Apartment

Some of the prominent drawbacks of apartments are as follows:

  • Challenges of living in a property with multiple units
  • High living expense
  • Financial risk, especially if you are buying a new apartment as your lender has to be in agreement with the price you pay.

Day to day living expenses are increasing for dwellers due to other amenities, such as door-keeping services, gym, pools, and more. It can be hard to identify these expenses in the beginning. You can only spot these outgoings when you start living in your apartment.

Another drawback of living in an apartment is expectation versus reality if you are buying off the plan, as sometimes, people do not get what they expect in terms of the design and structure.

When you are living in an apartment, you also have to agree on shared costs for body corporate fees and maintenance, which can be quite costly at times.

It’s important to understand the pros and cons of both options, as this will enables you to choose wisely by keeping in mind your budget as well as the quality of a lifestyle. Really, every property is different and depending on the location and deal you’re looking at, it needs to be treated as a case by case basis, therefore it’s best to consult a professional for advice tailored to your individual circumstances.

Chat to Hunter Galloway about financing associated with both a house and land package or apartment today, call us on 1300 088 065 or email Nathan at

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