During his years at Peter Blackshaw Real Estate, Rowan Glanville has seen a massive growth of townhouse developments in the Canberra market.
According to Rowan, townhouses are a great option for many house hunters "from first home buyers right down to downsizers." A townhouse isn't your standard residential property though, and there are certain things buyers need to be mindful of if they want to get it right.
Growth in townhouses and developments
"The boom started around three to five years ago," explains Rowan, "and it isn't limited to any one part of Canberra. We've seen a lot of developments go up in the established areas, but we've also seen a lot of growth in newer suburbs as well."
What's driving the change? According to Rowan, people are looking townhouses because they're after something "a bit different to apartment style housing, with a bit more green space."
We're seeing more townhouses on the market now than we ever have before.
"We're seeing more townhouses on the market now than we ever have before," says Rowan, and "the demand comes from people's perception of lifestyle." In addition to green spaces, many townhouses also offer residents more amenities, lower maintenance, and a strong sense of community, all of which can enhance wellbeing.
Choosing the right townhouse
With so many options, buyers are truly spoilt for choice. But how should they go about making the right decision?
"It starts with getting on good terms with an agent," explains Rowan.
Agents have seen hundreds of townhouses (including those that are still being built), so they can identify a particularly good buy. They know what's out there in terms of size, quality, location and price. Because they follow the market closely, they know the fair market value of a given home in a certain suburb.
According to Rowan, there are several things buyers should ask themselves when shopping around for townhouses, including:
- Is this the right location?
- Is there potential for growth?
- Where do you see yourself in five years? Is this house a part of that vision?
- What is your current lifestyle? Will this house support that?
- What about your lifestyle do you want to change? Is this the place to do it?
- What will the resell look like?
- Are there any unique selling points to this particular unit?
Buyers don't always know their 'tick-boxes,' which is why Rowan and the Peter Blackshaw team ask the right questions and use the answers to help buyers find the perfect home.
Do you want to see what's out there? Then give Rowan and the team at Peter Blackshaw Woden and Weston Creek a call today!