How to sell an apartment
Selling an apartment or unit in Australia can be a significant decision that requires careful planning and strategy. Whether you're looking to upgrade, downsize, or relocate, it's important to...
In real estate, a ‘flat’ refers to a residential unit that occupies part of a larger building.
In real estate, a ‘flat’ refers to a residential unit that occupies part of a larger building. It's often used interchangeably with terms like apartment or condominium. Flats usually have their own entrance, kitchen, bathroom, and living space, and they are typically located within multi-unit residential buildings.
Whether a flat or a house is a better investment in terms of capital growth can depend on various factors, including location, market trends, and individual preferences.
Flats often have lower entry costs compared to houses and may offer better affordability in desirable urban areas. In most cases, flats tend to have higher rental yields.
On the other hand, houses generally offer more space and privacy, appealing to families and individuals seeking a larger living environment. The appreciation of the property is usually greater than a flat since you own the entire block of land.
A granny flat is a self-contained living space that is usually located on the same property as a family home. It's typically smaller in size and has its own entrance, kitchen, bathroom, and living area. Unlike a house or apartment, a granny flat cannot be sold separately unless you subdivide the existing property title.
Compare your property to recent sales in the area to get a current market estimate.
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