What Kind Of Property Is Right For You?

If you’ve made use of a mortgage calculator and the expert knowledge of a mortgage broker, you may well know what type of lending product is right for you.

But what about the type of home?

The kind of property you want to buy will be determined by many factors. These can include price, lifestyle and location.

A freestanding house is on many home buyers’ wish list. These can be attractive because they are completely detached from other properties and often come with outdoor space - a bonus for households with children.

An apartment, on the other hand, can be a more affordable option. They can also make living closer to major centres more achievable for buyers. Houses near the centre of cities tend to be more expensive than further away in the suburbs.

The trade-off is that often space is much reduced and outdoor areas are practically non-existent.

A townhouse or terraced house is a third option which can represent a compromise between a house and an apartment.

Though not fully detached, these dwellings often have outdoor areas for a garden or parking, and can still be more affordable than a freestanding property.

To get more detailed information on your situation, talk to a Loan Market mortgage broker today.