House vs Units Meaning

Discussion in 'What to buy' started by Sam2408, 7th Mar, 2020.

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  1. Sam2408

    Sam2408 New Member

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    Hi all,

    I am a newbie into property investing and very grateful for a friend's recommendation on this forum. There seems to be a lot of experience and good advice here.

    I have been looking into some areas in Melbourne, trying to gauge median prices on Realestate.com.au (via charts) and YIP magazine (via tables at the end of the magazine). I am a bit confused with what the definitions of House and Units are here across the two.

    What sort of properties are considered Houses on Realestate & YIP? (e.g. detached Homes, townhomes, etc)
    What sort of properties are considered Units on Realestate & YIP? (e.g. Units, Apartments, Villas, etc.)
     
    Sam2408, 7th Mar, 2020
    #1
  2. John_BridgeToBricks

    John_BridgeToBricks Buyer's Agent Business Member

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    Units are anything that is strata'd. So townhouses would be considered a unit.
     
    John_BridgeToBricks, 7th Mar, 2020
    #2
  3. Marg4000

    Marg4000 Well-Known Member

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    Terminology differs between states, so check any info is relevant to the state you are interested in.
     
    Marg4000, 7th Mar, 2020
    #3
  4. datto

    datto Well-Known Member

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    House or Houso:

    [​IMG]


    Unit:

    [​IMG]
     
    datto, 7th Mar, 2020
    #4
  5. The Y-man

    The Y-man Moderator Staff Member

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    Victoria:

    House
    capi_ffcabb59e415427bb3b3fa699844c12e_495f99aed3cf261c5f9996b9e2e89a90.jpeg

    Unit:
    aa.jpg

    Apartment:
    bb.jpg

    Townhouse
    ccc.jpg

    Then you have terrace houses (1 and 2 storey) and I believe people in SA get homettes.

    The Y-man
     
    The Y-man, 7th Mar, 2020
    #5
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  6. Scott No Mates

    Scott No Mates Well-Known Member

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    Not every house is a home but units can also be homes.
     
    Scott No Mates, 7th Mar, 2020
    #6
  7. The Y-man

    The Y-man Moderator Staff Member

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    I thought Home is where the Heart is?

    The Y-man
     
    The Y-man, 7th Mar, 2020
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  8. Scott No Mates

    Scott No Mates Well-Known Member

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    You can set up home anywhere if you have a homing device.
     
    Scott No Mates, 7th Mar, 2020
    #8
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  9. The Y-man

    The Y-man Moderator Staff Member

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    You haven't been spending too much time with @geoffw by any chance?

    The Y-man
     
    The Y-man, 7th Mar, 2020
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  10. Scott No Mates

    Scott No Mates Well-Known Member

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    He's way more experienced than I in the art of dad jokes.
     
    Scott No Mates, 7th Mar, 2020
    #10
  11. Beano

    Beano Well-Known Member

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    In that case my home is in San Francisco "I left my heart in San Francisco " :)
    Ps I was going to sing the song and leave a mp3 as an attachment but I thought I might get ban from the site :)
     
    Beano, 8th Mar, 2020
    #11
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  12. chunho01

    chunho01 Well-Known Member

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    To be honest, sometimes it's confusing, especially when the address doesn't help.

    Most townhouses are subdivided so their address is something like 10B xxx St or 2/5 xxx St. Occasionally you get townhouses with no unit number, ie. 5 xxx St, but it's clearly a townhouse (the building is connected to your neighbours'). Does this mean those townhouses are not on a strata'd title? Doesn't that qualify as a 'house'?
     
    chunho01, 8th Mar, 2020
    #12
  13. wylie

    wylie Moderator Staff Member

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    It's also annoying when you narrow a search on realestate site to "house" but still many townhouses clearly have been listed as "house" so I have to wade past the ones I've tried to remove from my list.
     
    wylie, 8th Mar, 2020
    #13
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  14. The Y-man

    The Y-man Moderator Staff Member

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    They are the modern day version of the terrace house in Melb and Syd.

    The Y-man
     
    The Y-man, 8th Mar, 2020
    #14
  15. chunho01

    chunho01 Well-Known Member

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    Say... Unit & Apartment lumped together. Makes browsing for actual units with land near impossible.

    So they are house then.
     
    chunho01, 8th Mar, 2020
    #15
  16. wylie

    wylie Moderator Staff Member

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    I'm wanting to exclude units, townhouses. I'm not sure how I can do that if some townhouses are listed as "houses".
     
    wylie, 8th Mar, 2020
    #16
  17. craigc

    craigc Well-Known Member

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    According to Darryl Kerrigan, a home is his castle!
     
    craigc, 12th Mar, 2020
    #17
  18. The Y-man

    The Y-man Moderator Staff Member

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    As far as I am concerned - yes.
    Whether stats consider them houses or not I have no idea....

    This is the beauty of resi real estate - that it is so inefficient (sounds weird right?) - therefore you can uncover great deals by spending time looking at each deal, rather than aggregated numbers like median prices. eg a house getting counted as a unit because it has a shared wall but looking like it is way over the median in the stats.

    The Y-man
     
    The Y-man, 12th Mar, 2020
    #18
  19. tonyvooz

    tonyvooz Active Member

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    I know right, I'm looking for units with land and it frustrates me that apartments are also included in the search results
     
    tonyvooz, 13th Mar, 2020
    #19
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  20. The Y-man

    The Y-man Moderator Staff Member

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    So are thousands of other people - they give up, you keep going.
    You find a deal.
    Because so many people gave up, less competition for you (even better when they list it in completely the wrong category - like a house as an apartment!)

    The Y-man
     
    The Y-man, 13th Mar, 2020
    #20
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