First time property buyers take note – there’s sound arguments for investing in townhouses.
The big first step towards buying your first home will always be fraught with trepidation.
The road to riches through real estate investment is not for the fainthearted and has to be thoroughly considered by the potential buyer who, in this current stable market of low and attractive interest rates, is faced with a variety of options as banks chase the young first home buyer and first-time investors.
While newspapers and real estate websites are full of advertisements targeted at large apartment projects in the inner city, high-rise apartments are not for everyone. An option exists for home buyers and investors that has a more affordable entry price and cheaper body corporate costs yet is still close to employment and transport links.
That option is townhouses or rowhomes, as they are called in Sydney. In world-cities such as London, New York and Shanghai, the townhouse is viewed as more prestigious than apartment living as it offers more space and room to extend the family, particularly for young couples planning for children.
Metropole Property Strategists director Michael Yardney explains the appeal of townhouses for those looking to build wealth.
“Townhouses in our capital city’s inner- and middle-ring suburbs make great investments. I much prefer them to apartments in a new high-rise, where your apartment is one of 200 and the land-toasset ratio is low,” he says.
“Townhouses are a preferred style of accommodation for an increasing demographic – they make good investments and are a big part of my investment portfolio.”
Brisbane’s AR Developments, who specialise in townhouses, have added to their already extensive development portfolio with the announcement of their latest site in Brisbane, Lindum Reserve.
Located off New Lindum Road in Wynnum West, the development is less than four kilometres to the Manly waterfront, two walking distance to schools and medical facilities – yet is only 17 kilometres to the CBD and 15 kilometres to the Brisbane Airport precinct.
“Lindum Reserve will offer great value for money – 27 full turnkey townhouses in a spacious layout, adjacent to great lifestyle facilities,” says Mick McMillan, general manager of AR Developments.
Lindum Reserve hits the important buttons for first home buyers and first-time investors – the entry price (from $390,000) is $37,000 lower than the median price for a house in the area and the body corporate is a comfortable $44 per week, which would be unheard of in a new apartment complex.
Food for thought for first home buyers and first-time investors.