The Australian real estate in Melbourne is as vibrant as the city itself. Expensive but worth the cost, Melbourne has become a hotbed of concentrating on the populace base because of its prosperous culture, brilliant cuisine and its rich sub urban regions. Among the housing options available, a town house for sale in Melbourne demand has augmented in the past years. This wave of attraction is propelled by the fact that the lifestyle of its tenants is favored, its cheapness over a standalone house, and its potential to make a good long term investment.
In our upcoming article, we will learn why townhouses are gaining popularity in Melbourne, what you need to pay attention to before buying one, and how to find a suburb that will be the most promising.
Why Townhouses Are Rising in Popularity
Townhouses fall somewhere between a house and an apartment: they are slightly more expensive and usually offer more privacy as compared to apartments, but they remain cheaper and more convenient than a house. In hot markets such as Melbourne where property prices in certain parts within the market have escalated, townhouses have been used to enable first-time buyers and other investors to gain a foothold.
Modern architectural and functional designs and low maintenance living attract a large number of purchasers. The modern hybrid of the townhouse are attracting architects and developers to build stylish, contemporary facilities in well-connected suburbs and thus, serve as an intelligent option to those individuals striving to remain in the vicinity of the city, but do not want to trade-off comfort.
Lifestyle and Location Benefits
The location of town houses is one of the greatest strengths of these properties. Most new townhouses are well designed to be located in the outer suburbs with proximity to schools, shopping areas, cafes, and transport. This makes them very attractive to the younger family and working people who find convenience.
Many town houses have their own courtyard, garage and multiple bedrooms which are of interest to people who need more room, but do not want to relocate very far. These living amenities are some of the factors that make town houses in Melbourne in demand.
Investment Potential in Melbourne’s Townhouses
Just about everybody would agree that real estate is never a bad investment, especially when one lives in the home. As an investment criteria, various factors should be considered.
The Townhouse market in Melbourne holds powerful potential to investors. Townhouses also often provide a high rental yield as they are desirable to a wide variety of tenants: singles and couples, small families, and downsizers.
Moreover, with the scarcer land in Melbourne the value of strategically located townhouses is also likely to rise with the passage of time. This doubles them as a secure long-term investment. Smart investors would have a look at emerging suburbs where infrastructure projects, schools, and transport upgrades are in the pipeline as these projects usually enhance capital gains.
Key Suburbs to Watch
Some of the most promising suburbs in the City that one should consider when going out in the market to buy a town house in Melbourne are:
- Brunswick- Brunswick is known to be a hub among young professionals as it has both culture, nightlife and connectivity.
- With ready access to living, a burgeoning cafe culture and excellent transport links, Coburg is the latest hot spot in the townhouse market.
- Footscray – Overlooked in the past, the gentrification process of Footscray is becoming a fast track, so it is a good place to invest in the suburb.
- Preston Leading the top first-time buyer markets, Preston is proving an attractive option to first-time buyers and investors.
- Doncaster – The shopping centers and schools make it an attraction to families who wish to have convenience and the modern taste of living.
All these suburbs are a combination of lifestyle and high potential growth, which is exactly why the townhouse buyers should consider them.
What to Consider Before Buying
When thinking of getting a townhouse to occupy, there are factors that you should consider before plunging:
- Location – The place should be close to schools, transport and amenities.
- Practising– Look out for an open living room, natural sunlight, and energy efficiency.
- Owners Corporation Fees– You may end up paying fees to an owners corporation, so check for ongoing costs.
- Resale Potential- Select a suburb with a long term demand to have maximum resale potential.
- Research Builder-Always read into the reputation of the builder to ascertain quality work.
With these factors considered with care, buyers home in on the right decision to ensure that they give themselves a home that will offer them good service in the many years to come.
Stylish Living with Melbourne’s Townhouses
Townhouses can provide a great solution to the people, who are interested in new masterfully designed low-maintenance and convenient home living. New construction tours around the city are presenting home purchasers with new design-forward layouts in addition to stylish touches that take urban homes to another level.
Town houses are also available with a wide variety of options at varying budgets to fit every lifestyle when looking at stylish Melbourne homes for sale. Whether it be chic inner-urban builds, or spacious family friendly dwellings in leafy suburbs, Melbourne townhouse market has something on offer to everyone.
Final Thoughts
The Melbourne property market is ever-changing, and one thing is certain, there will always be a greater need in terms of Townhouse property. Townhouses are one of the best investments today because of their cost, utility and appeal to lifestyle.
Regardless of whether you are a first-home buyer, growing family, or an investor who aims at gaining high returns, acquiring the right town house could be an excellent property choice you make.