Terrace Home, townhomes or townhouses is a word many use interchangeably in marketing these days. Whatever you would like to call them (and for the purposes of this article we are going to call them a townhome) they are becoming an increasingly popular property of choice. As of the 2016 Australian Census, townhomes account for 12.7% of all residential homes, and they have only become more popular since then. This is driven by several factors, with the most significant being the drive to more affordable housing and the continuing downsizing trend. With a smaller land footprint to a standard house and land package, a new townhome can be significantly more affordable for the same size and quality home. Older property owners and empty nesters also love the appeal of a townhome with the reduced yard maintenance and overall upkeep.
We brought together for you five of the biggest reasons a townhome is worth considering:
One of the main draw factors of townhome projects is their location. Often, you’ll find new townhome developments in sought-after locations that may be traditionally hard to enter because of the high property values. Townhomes give buyers an entry into these locations, by increasing the number of available properties (generally at a lower price, although more on that below). You often find families in townhome developments because it is an easy way to move into certain school catchment zones for this reason. These seem factors also appeal to property investors, so townhomes are a favourite for them. Rental rates on a townhome can often be comparable to nearby houses, whilst the purchase price can be significantly lower, making the rate of return naturally much more attractive.
If you have your heart set on a particular suburb due to work, lifestyle or family commitments, or you just really love the vibe of the area, townhouses may be the best way to buy into the area.
One of the great appeals of a townhome is the value for money. You really do get a house sized home for a lot less than a house and land packaged would cost. This is simply a factor of the land content that is contained within the price of a townhome. Often a townhome can sit on 200sqm of land or even less, whilst a standard house is often on 400sqm and more.
This affordability advantage makes townhomes very attractive to first home buyers and young families wanting a house sized home but can not afford the price tag. The great appeal of a townhome as compared to an apartment is that you don’t have to compromise on the home size, you can get 4 bedrooms, living room and double lock up garages at an affordable price.
Low maintenance lifestyles are a big reason people choose to move into townhome developments. Residents get all the benefits of a home without the high maintenance a traditional house requires. If you are sick of spending your weekends doing the lawns and hedges, weeding your driveway or cleaning the pool, then you are a prime candidate to consider downsizing to a townhome. Townhome projects such as Parc (see the image below) can offer some pretty impressive amenity without the maintenance. Parc has over 7,000sqm of parkland. Imagine mowing that! Luckily townhomes will have a body corporate who will do all this work for you. Essentially, you can step outside into a parkland or head to the pool with the kids, and not have to worry about whether you’ve mowed the lawn recently, or if your back is up to pulling leaves out of the pool.
The maintenance of the lawn (or parkland in Parc’s case), the swimming pool, weeding the driveway or anything else for that matter all comes under the responsibility of the body corporate, ensuring that townhome owners do not need to complete these tasks. The body corporate and the body corporate fees are a key part of making townhomes truely low maintenance.
Safety is naturally a big issue for older owners wanting to downsize and also for young families, and townhomes have some significant advantages in this regard over traditional houses. The communal nature of a townhome development naturally provides a high level of security simply through the added supervision that comes from having more neighbours. Most newly developed townhome projects will also feature an array of features to naturally add further security. Features such as video camera monitoring, culdesac street design and street scaping to slow traffic speeds which are almost common place in newely well-designed townhome projects all contribute to improving the security of your home.
Many people find that moving into a townhome development introduces a level of community engagement with their neighbours that they were never able to establish in a traditional house. Part of this is the fact that you share facilities such as a pool or a playground, so you get to know your neighbouring owners and residents far more naturally. It is also driven by the sense of community that is sought out by families, downsizers and professionals alike. Townhome developments tend to bring together neighbours with a common social perspective which naturally breeds a sense of community. A family may find others with children that go to the same school (carpooling for the win!), or a neighbour who is willing to babysit on short notice. Downsizers often enjoy the sense of community because it keeps them active and engaged after they retire. Professionals likewise enjoy the community spirit because it’s easy to pop over to a friend’s house to enjoy dinner after a long day of work if they’re only 30 steps away.
All in all, there are many reasons why people love townhome developments. If you’re looking to buy in one, then PropertyMash.com is the right place to look! With over 500 projects reviewed on the site, PropertyMash.com enables buyers to review projects and understand their strengths in a way never before possible.
One of the newest townhome developments reviewed on PropertyMash.com is Parc Townhomes in Sunnybank Hills, a townhouse project that is designed with families in mind. The four-bedroom townhouses (some of which are free-standing) site off Pinelands Road, and will include a 7,000 sqm parkland (amongst other communal facilities like a pool) once complete. This is a great location, as residents are close to a number of shopping centres, cafes and restaurants, and schools.