Apartment vs house for first-home buyers

Apartment vs house for first-home buyers

The Prime Minister has said first-home buyers need to consider choosing apartments.

So we decided to look at the differences between an apartment and a house.

The average cost of maintenance in a house amounts to $7250 a year, which includes insurance, power and gas, rates and fees to paint your roof and clear your gutters; while apartment body corporate fees are between $7000 and $10,000 each year.

The differences in lifestyle are also vast. For those who like to be close to shops, train stations and work, apartment living and the "lock and leave" style can be attractive.

But a house gives you freedom and space, and for growing families, the optios to add extra rooms - renovating in an apartment with neighbours nearby may not be so easy.

Story broke down the cost, hours and lifestyles of apartment living versus a house.

Watch the video for the full Story report.