The top 4 benefits of choosing a townhouse within a master-planned community
The majority of buyers who decide to purchase within a master-planned residential community, will either choose a house and land package or purchase a block of land to suit a certain house design.
Townhouses have traditionally played a minor role within a project’s housing solution mix. But we are now witnessing an upward trend for townhouse living. With this demand, there has been an increased number of townhouse precincts being constructed across more residential communities.
Our buyers are asking more and more questions regarding the benefits of choosing a townhouse within a masterplan community. We asked Red23’s Director of New Homes, Bernard Eid and New Homes specialist Julie Brooks about the top 4 benefits.
1. Best Locations
Townhouse precincts are often required by local councils to be constructed in what is considered to be premium locations within a master-plan community.
These precincts are normally close to established or planned lifestyle amenities such as shopping, childcare, schooling, public transport and key road networks. Townhouse precincts are often built to have view lines of community parkland.
Developers and builders place an emphasis on security, safety and convenience when planning a townhouse precinct within a new residential community.
2. Great Timing
We are finding that townhouse precincts are now being launched to the market earlier than in previous years, as they are providing a true product alternative and a competitive price point to traditional house and land packages.
With street networks and landscaping being completed and the promised parklands and local amenities establishing, it gives buyers the opportunity to capitalise on the uplift in price once they are completed.
Townhouses are built in stages, which ensures neighbours are moving in at a similar time. This creates a ready-made local community of like-minded residents.
3. Easy buying process and truly turnkey
The buying process is much easier than a traditional house and land option as premium finishes, fixture and fittings and landscaping are generally standard, which makes these homes truly turnkey. It removes the sometimes stressful process of choosing the long list of inclusions needed for a new home.
Contracts and payments are also different to a house and land option. While house and land contracts use a progress payment method, where the purchaser pays instalments at certain stages of construction, purchasing a townhouse quite often only requires a 10 percent deposit with the remaining ninety percent paid upon settlement.
4. Townhouses are perfect for many types of buyers
Townhouses attract a mixture of buyers who choose this option for either lifestyle or financial objectives.
We are seeing that the majority of purchasers are singles, young couples or young families, with a desire to stay close to family and friends with important amenities at their doorstep.
Older couples with an eye on retirement are choosing to downsize from their larger family home to be in easy reach of their mature children and grandchildren. They can also easily lockup and leave knowing their home is part of a secured environment.
Lastly, Investors see townhouses as value for money with less upkeep and ongoing fees. They are more popular with tenants then apartment living due to larger spaces and land, which for investors, bodes well for an ongoing return on investment.
Red23 market a range of townhouse projects across both their master-planned communities and within established suburbs in Melbourne and Greater Geelong.
For more information regarding the benefits of townhouse living or for a list of townhouse projects we are marketing, contact Red23 on 03 9540 0477 or register your interest here.
25 May, 2021