When it comes to housing types big is not always better, according to a property industry expert.

Master Builders Association of Victoria acting chief executive officer Viviana Hood says while there are pluses in both traditional stand-alone suburban housing and apartment-style accommodation, there is one very big, very obvious difference – the latter are less expensive to buy in the same area.

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“Smaller homes like apartments are generally closer to the city, jobs and infrastructure,” Ms Hood says. “They are cheaper to buy than larger homes in the same location and offer a great way to enter the property market. But they are also cheaper to run, requiring less energy to help you to reduce your carbon footprint.”

As well as maintaining a smaller loan, the MBAV spokesperson says that it is much easier to keep a small home clean.

“And you don’t need as much furniture, which can help save you money,” she says. “Apartments, townhouses and units can also provide great communities for people to live in with neighbours interacting via bodies corporate (owners corporations) or other common events.”

Focus on your budget

Ms Hood points out that it is important for aspiring homebuyers to decide what they want in keeping with their budget, whether it is space or a particular location.

“Is a big back yard crucial or will a balcony or courtyard meet your needs?” she asks. “Are you looking for a home or a long-term investment?”

Ms Hood says “having realistic expectations of what your money can buy you will make a big difference when you look to buy a home”.

For investing, small can be good

The MBAV chief says while larger homes may be more expensive than smaller houses they can be a great investment for homebuyers.

“Space isn’t an issue in larger homes and they can accommodate larger or growing families without everyone feeling crowded or like they are living on top of each either,” Ms Hood says.

“Bigger homes often come with more outdoor space, which can be really important if you want to have somewhere for children to play, room for a dog to run, space to entertain friends over a barbecue or grow a new veggie patch.

“People living in detached houses have the freedom of doing what they would like to their home without worrying about body corporate rules.

“They don’t have neighbours directly beside their walls, floors or ceilings like those living in townhouses or apartments, where noise or privacy might be an issue.”

Orbit Homes director Paul Millson agrees smaller homes are more affordable and provide people with what they need “with no wasted areas or space”.

“You can have a nice outdoor area but (smaller) gardens etcetera can be maintained without large amount of time spent on them,’’ says Mr Millson, whose company builds homes in Victoria and Queensland.

But the Orbit chief says the size of a family has “a large bearing” on whether a smaller home is suitable or not.

This story was brought to you by The New Daily using data and other information from its real estate content partner, realestateVIEW.com.au