Buying a Townhouse – (Part Two)
The notion of building townhouses was attractive to developers because more of them could be put on a block, at a fraction of the cost of freestanding houses. Townhouses also meant fewer hassles when it came to submitting plans, where apartment blocks were still more problematic.
For many first-home buyers and retirees, buying a new townhouse for around the $400,000 - $500,000 mark is a desirable proposition. That’s the financial advantage of buying a townhouse rather than a stand-alone dwelling. Therefore, if you want to save money while still buying a valuable property, look at a townhouse.
At centralequity.com.au, you can find inner city sky-high penthouses, and townhouses for sale. OzFreeOnline.com has thousands of homes for sale around Australia. There are many townhouses, all which would make good family homes either for young couples and retirees, or investments for those people who are interested. The search criteria for properties are helpful and will trim down the time you spend searching for exactly what you want.<
However, it is necessary to make sure you are comparing equivalent locations. Vacant blocks in inner suburbs are extremely rare and don’t stay on the market long, so the comparison may be a little academic but will still make good economic sense.
The golden rule is that land value appreciates and the actual building depreciates, so a townhouse is going to make a better investment than an apartment. On the other hand, a townhouse is much more affordable than a similar home on what used to be considered an average suburban building block. From the inside, everything is the same. Outside, you still get room to entertain and garage your car. You just don’t get a large garden.
Townhouses are ideal for first-time buyers and provide a route into a better location than they could afford if they bought a more conventional house on a large block, inevitably in an outer suburb. Nevertheless, is a townhouse a sound investment property?
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