{"id":5684,"date":"2015-09-11T01:00:57","date_gmt":"2015-09-10T15:00:57","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=5684"},"modified":"2015-09-11T01:00:57","modified_gmt":"2015-09-10T15:00:57","slug":"house-vs-unit","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/house-vs-unit\/","title":{"rendered":"House vs Unit – Shannon Davis"},"content":{"rendered":"

 
\nIn today’s show buyers agent\u00a0Shannon Davis<\/strong>,\u00a0from\u00a0Metropole Properties in Brisbane,\u00a0explains why it is not as simple as deciding to buy a house or a unit.
\n <\/p>\n

Transcript:<\/h4>\n

Kevin:<\/b>\u00a0 A few weeks ago on the show, I spoke to Shannon Davis from\u00a0Metropole Properties in Brisbane<\/a>\u00a0about the advantages of flipping \u2013 where you buy a property, renovate it, and flip it over quickly; it\u2019s an American term \u2013 opposed to a buy-and-hold strategy.
\nWelcome again to the show, Shannon.
\nShannon:<\/b>\u00a0 Thanks for having me, Kevin.
\nKevin:<\/b>\u00a0 This time I want to talk to you about units versus houses. Is it that simple? Is it a black-and-white issue?
\nShannon:<\/b>\u00a0 No. I think everyone likes to simplify things, just to make it easier in their heads, but it\u2019s not that simple.
\nKevin:<\/b>\u00a0 Is it market to market, or is it me as an investor?
\nShannon:<\/b>\u00a0 Market to market, definitely. But not all land is created equal. For instance, I would prefer a unit in a highly desirable owner-occupied area than the biggest house further out where the land is much more inferior and the market depth is far less.
\nKevin:<\/b>\u00a0 So you\u2019re still saying come closer to the city, and if you have to buy a unit to get closer to the city, then that\u2019s what you have to do?
\nShannon:<\/b>\u00a0 Definitely. Where the market depth is more and the owner-occupier appeal is more, I would choose more. If that takes me in the inner and middle rings \u2013 which is more likely, because people like to live near their employment and the CBD is the biggest employer and provides most of the economic output \u2013 then I\u2019m going to take an apartment rather than a house.
\nKevin:<\/b>\u00a0 There is a school of thought, when you\u2019re talking about value, that people say that the value is in the land, therefore \u201cI have to have a house, and the bigger the land the bigger the value.\u201d That doesn\u2019t necessarily follow?
\nShannon:<\/b>\u00a0 Not necessarily. Apartments do have land value, as well, so if I am to pick an apartment I\u2019m not going to pick one in a high-rise with 150 other apartments, with an expensive lift, gym, pool, and spa. I\u2019m going to pick a two or three story walkup that\u2019s on about 1800 square meters, and it has a big land proportion into it but that property has more owner-occupier appeal, a greater market depth, and therefore greater capital growth.
\nKevin:<\/b>\u00a0 When you think about it, in the 150- or 200-unit block is going to have 200-odd other owners in there you have to work with to get things done in the building.
\nShannon:<\/b>\u00a0 Definitely. If there\u2019s that type of mass, there could be ten on the market at one time, so if they all have the same aspect, and layout, and so on, then how are we going to get the sale?
\nKevin:<\/b>\u00a0 What about another aspect of units over houses, and that is if you\u2019re looking at units, the mix of owner-occupiers and tenants?
\nShannon:<\/b>\u00a0 It makes a big difference. Owner-occupiers are house-proud, don\u2019t mind spending the sinking funds on communal areas, and having their apartment block with its best foot forward. Whereas investors tend to not turn up to body corporate meetings and tend to be less worried about more returns on funds, and therefore, there can be a little bit more neglect.
\nKevin:\u00a0\u00a0<\/b>Even if you\u2019re buying into a new building and you find out what that owner-occupier to tenant mix is, that\u2019s going to change over time, too. As the block gets older, you\u2019ll probably find that there will be more tenants coming into it as people move out and maybe go to a different block.
\nShannon:<\/b>\u00a0 Definitely. The reason I keep coming back to owner-occupiers, Kevin, is because they pay more. They\u2019re emotional, and for them it\u2019s their home, not a house. If you have a higher tenant proportion there tends to be just that little bit more neglect of the apartment building, the communal areas, and the comings and goings of the parties who are invested in that building.
\nKevin:<\/b>\u00a0 The bottom line: just give me your top three points if I\u2019m deciding about units opposed to houses?
\nShannon:<\/b>\u00a0 A $400,000 house or a $400,000 apartment? I would be taking the apartment in a highly walkable, desirable area, because the smaller the dwelling, the more important the area around it \u2013 like green space, cafes, and transport facilities. That\u2019ll be a better investment because the market depth will be greater with that one, rather than a $400,000 house further out.
\nKevin:<\/b>\u00a0 I guess it also comes to what kind of tenant you want. If you\u2019re looking for a family, for instance, you probably are going to have to buy a house.
\nShannon:<\/b>\u00a0 I think that\u2019s probably putting the cart before the horse, because for me, we have lots of tenants and often it\u2019s the ones without kids who pay their rent on time and have less objections when it comes to rent rises.
\nKevin:<\/b>\u00a0 Shannon Davis from Metropole Properties in Brisbane. If you\u2019re wondering, Shannon also has another business called Image Property Management. It\u2019s a specialist property management business, and he is across both areas \u2013 a guy well worth talking to if you\u2019re looking for a property anywhere in Queensland.
\nShannon Davis from\u00a0Metropole Properties in Brisbane.<\/a>\u00a0Shannon, thanks for your time.
\nShannon:<\/b>\u00a0 No worries, Kevin. Any time.<\/p>\n","protected":false},"excerpt":{"rendered":"

  In today’s show buyers agent\u00a0Shannon Davis,\u00a0from\u00a0Metropole Properties in Brisbane,\u00a0explains why it is not as simple as deciding to buy a house or a unit.   Transcript: Kevin:\u00a0 A few weeks ago on the show, I spoke to Shannon Davis from\u00a0Metropole Properties in Brisbane\u00a0about the…<\/p>\n","protected":false},"author":176692471,"featured_media":5685,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10,13,25],"tags":[101],"class_list":["post-5684","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kevin-turner-sponsored-channels","category-latest-story","category-sponsored-channels","tag-podcast"],"yoast_head":"\nHouse vs Unit - Shannon Davis - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/house-vs-unit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"House vs Unit - 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