WTF - is buying an apartment a total rip-off?
I'm 28, single and looking to find my own place after saving for about a year. This is my first ever time in the real-estate market (perfect time apparently) so I don't know much, but after browsing thru prices for the last couple of days I'm disgusted. Apartments cost virtually the same as a full-sized home! How is that even possible?
I'm not talking about the city. I'm from Western Sydney and plan on staying there. A decent, semi-modern apartment runs at least $480k in Bonnyrigg. Parramatta and Baulkham Hills the price rises another $100k on top for just a single bedroom place, and that's not even counting the strata fees which can be around $400 a month! Honestly for all that money I can just buy myself my own private 3-bedroom mansion (by comparison) and enjoy the luxury of a backyard too. What's going on?
I was kind of set on an apartment because I like living small in a populated area but not at that price. Would appreciate any insight.