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It’s difficult for first time buyers to find the money that they need for a deposit, so you would think that most of them are buying small properties that are cheap, like apartments, but that isn’t the case. In fact, a lot of first time buyers are saving up for longer so they can buy larger houses instead. That way, they don’t have to move again for a long while because they have space to start a family in the future if they decide that’s what they want to do. But is it really a good idea to spend lots of money on a large house and stay there? For some people, it might work out, but you never know what the future holds and it’s not always a good idea to plan for the next 10 years if you are unsure where your life will take you. It may be best to buy a smaller house, or maybe even an apartment. A lot of people write off the idea of an apartment and assume that they need a house, but there are actually a lot of benefits to living in an apartment. These are some of the reasons why first time buyers should consider an apartment instead of a house.
If you try to buy a house that is right in the heart of a city, you will pay a lot for it, and most first time buyers simply can’t afford it. Instead, you will most likely end up making sacrifices and living further away. That can be a bit of a drag if you work in the city and you have a long commute each day. But you can get some amazing places in city centres that are a lot more affordable. The best located places may still be out of your price range, but you will get a better location than you would if you bought a house for the same price. If you are young and you don’t have a family, you don’t need to worry about things like schools just yet, so it’s often better to find a place that is closer to work and has plenty going on nearby.
If you want to buy a brand new, modern house, it’s going to set you back. But when you are looking at apartments, it’s easier to find somewhere modern that is in your price range. You have less space, of course, but you are paying for quality over quantity. Check out these properties from Meriton Apartments, for example. They might not be as big as a 3 bedroom house, but they are far more modern looking, which is a priority for a lot of people. Having less space means that the place is cheaper to run anyway, so it can be a bonus.
When you are looking for a place to live, it’s not just the property you have to think about. There are all sorts of other things to consider, and safety is a big one. If you are worried about safety, apartment living is ideal for you. If somebody wants to break in, they’ll have to get through an outside gate, then into the building itself, and finally through your front door. That’s 3 levels of protection, and if you are on a higher floor, your windows are safe as well.
Don’t write off the idea of buying an apartment just yet because it’s actually more suitable than a house for a lot of first time buyers.