How to Choose the Perfect Property Type: Apartment, Townhome or House?
Buying a brand new home can be the perfect option if you want to purchase something more bespoke that will meet your lifestyle requirements.
When you buy off-the-plan, you often get the ability to customise the look and feel of your home, choose from a selection of well-thought-out floorplans.
To understand the types of off-the-plan properties available and to decide whether an apartment or townhome would be more suitable for you, here's a breakdown of what each property type has to offer.
APARTMENTS
While apartments are most commonly found in the CBD, as demand for cost-effective housing grows, more apartment towers are cropping up in suburban areas, meaning you're less likely to have to compromise on the location of your new home.
One of the most significant drawcards of apartments is their amenities. Even if you purchase a one-bedroom apartment, you may have access to a suite of resort-style amenities and often ground floor retail and dining options too.
A consideration you'll need to take into account is whether you are allowed pets, what the restrictions are around renovating your apartment and what the rules are when it comes to using your property as rental or short-stay accommodation.
Another thing young families may wish to consider is whether they will need extra room in future – in that case, a larger apartment or townhome may be more appropriate.
TOWNHOMES
Townhomes offer many of the same benefits as an apartment but often provide a bit more flexibility of space. They're great if you are keen on having a backyard, or if you want more privacy with fewer neighbours.
Often townhomes will come with more car parking and storage space, with slightly larger living areas and bedrooms.
Townhomes are also more likely to be dual aspect and dual storey – however, if second storey access will be problematic, then an apartment with elevator access may be a more suitable option.
HOUSE & LAND | DETACHED DWELLING
A stand-alone house has traditionally been the first pick for homebuyers across the board for their historic value retention, land and the ability for the owner to add value through renovations and adding additional bedrooms.
However, with the popularity of apartments and townhomes increasing due to the higher quality builds of multi-residential properties today, coupled with the lower entry point – traditional housing is seeing some competition in the market.
Buying a brand new detached dwelling within a masterplanned community can give you the best of both worlds.
With access to world-class amenities, high spec finishes and a burgeoning community, this can be a fantastic option for buyers wanting to buy a brand new home but also live in a part of a well-designed community.
At Urban, we have seen increases in demand for apartments, and townhomes, with both proving to be a cost-effective and viable option in the current competitive market.
Whether you opt for a low maintenance apartment, a flexible townhome, or a detached dwelling with the potential to add value, the home you move into will be brand new.
MIRVAC | FIRST HOME BUYER HUB
If this is a question you find yourself asking, use Mirvac's checklist to learn the 11 key steps in the buying process for first home buyers.
