So what is the most suitable housing product for today’s demographic?
Enter the townhouse model. The ideal balance for achieving a desirable home with a smaller, manageable land component at a more affordable price than an established home.
For a number of important reasons, the option is becoming increasingly sought after.
1. The townhouse product is affordable.
Compared to established homes in inner and middle ring suburbs, townhouses are opening up more housing opportunity to the CBD workforce or those wanting to be closer to amenities, transport and education.
It also provides similar comforts to an established home, including land but all on a smaller scale.
2. The townhouse product is suited to both investors and owner-occupiers, young and old.
Whilst generally considered to provide a good return on investment for developers, townhouses are also viewed as a "lifetime" product suiting everyone from growing & established families to down-sizers due to their flexible attributes.
Most models are built according to what the market is demanding which is a preference for 2 levels, 3 bedrooms, kitchen, living, dining and full bathroom and a small land component.
The master bedroom or study is downstairs with a second bathroom so that one can live on the ground level if required.
3. The townhouse product takes less time to deliver.
Construction time is typically 6-12 months, not 2-3 years like off-the-plan apartments or houses. This reduces overall costs and inconveniences for both builder and buyer.
With this change in housing requirements, our fast paced lifestyle and the ability to be continually "connected" comes consumer expectations to have everything on demand.
The search for the right housing is no exception to this rule.
This is why dedicated niche listing platforms such as the Townhouse Developments website have taken off — Australia’s first and only website dedicated to searching Townhouses for sale on a national level including those approved by the FIRB.