What Property Type Is Right For You In Sydney? 

Choosing the right property in Sydney can be tough, especially if you are new to the place and are still trying to adjust to the city.

However, there are a variety of options you can go for when it comes to choosing the right property. For instance, you can buy a brand-new house that is fully furnished, but it might be expensive. Instead, you can opt for an off-the-plan apartment or a newly renovated duplex.

In some cases, building a new house on vacant land may save you more money since you don’t have to pay any brokers or real estate agents. Additionally, people who build their own houses get special grants from the First Home Owner Grant (FHOG).

With this in mind, we have compiled this guide to help you make the right decision when choosing a Sydney investment property market. So, whether you are a first home buyer or a property investor already in the market - let’s take a look at the best property investment for you!

5 Common Type Of Properties In Sydney

Sydney is one of the most beautiful cities you can live in; therefore, choosing the right property can be tricky since various options exist. In this section, we will list all the different property types available in Sydney’s real estate market and their advantages.

Additionally, some of these properties are extremely budget-friendly so that you can choose your dream house accordingly.

1. Apartment Buildings And Units

If you live a fast-paced life, we recommend choosing an apartment complex. Most apartments and units are small and compact, requiring less maintenance.

Moreover, owning a unit can save you a lot of time since you don’t have to spend time cleaning the gutters or mowing the lawns. Nevertheless, you will be required to pay quarterly strata levies to the building authorities if you want them to maintain the apartment from the outside. Ensure you look at the body corporate fees before buying.

Overall, apartment living is one of the safest options since you get all the necessities in one place.

2. Townhouses And Villas

Like the previous option, a villa or townhouse can be affordable if you have a tight budget. In fact, they require low maintenance compared to a regular house; hence, you can save a lot of money and time.

Besides, most villas and townhouses have a courtyard or an outdoor terrace. Hence, you can enjoy the open view of nature in the comfort of your home. You can also grow vegetables in the small garden whenever you are free. That said, you shouldn’t forget to pay the strata fees if you want to cover the building maintenance.

3. House And Land Packages

House and land packages are the quickest way to own a dream house in Sydney. These packages mostly focus on suburban development areas where the land is more affordable and accessible.

Besides this, most houses that are a part of this package use modern materials and energy-efficient appliances. Hence, you can get a more power-efficient and modern house at an affordable price.

However, you must consider the basic needs before going for these packages. For instance, the package might not include the fencing of the house. Apart from this, you must also consider other factors, such as an outdoor deck or pool area.

4. A Newly Renovated Home

Instead of purchasing a newly furnished home, you can opt for a newly renovated house. The sellers make it a point to upgrade all the existing furnishing; therefore, you can expect top-quality features. However, these properties are pricey since the seller often imposes a high premium for all the hard work.

On that note, you should check out the property and see if the renovation and changes meet the guidelines laid down by the local council’s building code. You can also ask the seller for a certification of compliance as proof of authenticity.

5. Duplexes

Duplexes are another form of dual occupancy where two parties have to share a small block divided by a wall. This way, each person gets their complete privacy.

Nevertheless, we only recommend this option if you are tight on a budget, as you may face many problems adjusting to the environment. For example, you can have a noisy neighbour living beside you or someone who doesn’t respect your privacy.

In some cases, the duplexes may share a single insurance policy, so you will have to rely on the neighbour to maintain their premium payment.

So, Which Property Type Is Right For You In Sydney?

With that, we have reached the end of our guide on the different types of properties in Sydney. Before signing off, we want to share a few points you must remember while selecting a property.

Firstly, list all the properties with non-negotiable prices and compare each property’s features. The one with the most features should be your top pick since it will have all your necessities.

Besides this, we recommend making another list where you mention all the features you need from the property. For instance, choosing an apartment with an extra toilet may not suit you, especially if you plan to live alone.

But if you continue to face problems while choosing the right property, you can contact our Sydney builders and renovation specialists. See you next time!

FAQS - Which Property Is Right For You

How can property investors find areas with good price growth potential?

When researching areas, property investors should look for indicators of future price growth like new infrastructure developments, rezoning plans, and population growth. Checking historical price data can reveal locations with consistently strong capital gains as well. Focusing on investment properties with development potential can maximise returns.

What should owner-occupiers look for in a floor plan?

Owner occupiers should prioritise living spaces in the floor plan that suit their lifestyle. Consider how many bedrooms are needed, if a study nook or large kitchen is desired, and whether features like an open plan living/dining work for you. Also, check that storage, bathrooms, laundries, and outdoor space meet your needs.

Why might a townhouse require more maintenance than a unit?

Unlike a unit, townhouse owners are usually responsible for all exterior maintenance, including roof repairs, paintwork, gardens, driveways and fences. Units only require internal maintenance, and strata fees cover building insurance and external repairs.

What types of inspections help identify issues before purchase?

Pre-purchase building and pest inspections are strongly recommended. A building inspection identifies structural issues or required repairs. Pest inspections look for termites, other wood-destroying insects, and rot or moisture damage. Both help buyers avoid expensive problems.

How can buyers save money when purchasing property?

Buyers can save money by choosing a property type with lower purchase and maintenance costs, like a unit or townhouse, shopping for homes under their maximum budget, negotiating on price, and opting for homes further from the CBD that are more affordable. Setting a savings plan early also helps.