What to look for in a standout Melbourne townhouse
Not all townhouses are created equal, but certain standout features can help you spot a winner.
The growth of the townhouse market in Melbourne
You may be wondering, why townhouses and why now? With so many luxury apartments being built, it seems counterintuitive that standalone units would perform so well.
While the city explores with residential high-rises, many are after something a bit different.
When you think about it, however, it makes a lot of sense. While the city explodes with residential high-rises, many are after something a bit different. Townhouses are just that. A standalone home with a bit of green space and a sense of community, yet a lower maintenance requirement – townhouses represent a great option for young families, downsizers and investors alike.
Townhouses once had a reputation for being poorly built and generally on the wrong side of town, but this is changing. The demand stems from our perception of lifestyle; no longer happy to be crammed into tiny apartments, Melburnians are looking out for homes that can foster growth and wellbeing.
How to spot the right townhouse for your portfolio
As an investor, the time is now to snatch up the right townhouse property. Here’s how to spot it.
1. Bigger is better
Avoid cookie cutter floor plans and look for spacious homes with impressive interiors and unique floor plans. Renters looking at townhouses don’t want the standard space – they’re looking for something that feels more like a forever home, ideally with plenty of room for family or entertaining friends.
Townhouse tenants often want space for a growing family or entertaining friends.2. Look for unique amenities
Like any investment property, it’s important that your townhouse stands out from the pack. This will be increasingly essential if development picks up, which very well could happen.
Therefore, lookout for unique selling points, such as a community garden or extra green space.
3. Work with the right agent
Navigating the property market can be tricky, particularly when you’re trying to pick up a unique space. That’s why it’s imperative to get the right agent on board.
At Nelson Alexander, our agents have seen countless townhouses and they also have information around those still in development. They know what is trending in terms of quality, location and size and can assure you you’re paying fair market value.
To find out more, reach out today.
