What is a Townhome and why is it such a good investment?
A Townhome is a double storey, fully contained home that shares one or more walls with an existing property. Perfect for investors, downsizers and young couples alike, one of the most significant benefits of purchasing a Townhome is that they are delivered fully turnkey. The driveway, landscaping, letterbox and clothesline are included in the purchase price, so you (or your tenants) can move in on the day you receive your keys – an important advantage given Melbourne’s skyrocketing rental market!
‘Having an estimated completion month means my real estate agent can ensure I have a quality tenant in the property from day one,’ adds Tania. ‘There’s no lull period and I can start receiving a return on investment straight away.’
Townhome design highlights
Featuring a beautiful Hamptons façade and a curated colour palette, Tania says the Townhome design process was simple, affordable and enjoyable. And with three interior design colour schemes and numerous bespoke options available, Tania was spoilt for choice.
‘While most of the hard work is done for you, I was delighted with the variety of options and upgrades available to really personalise the home,’ says Tania.
‘Because I was so satisfied with the quality of the standard inclusions, any upgrades I chose were to ensure maximum comfort for my future tenants. I opted to include air conditioning in the minor bedrooms in addition to the master and living spaces, niches to the bathrooms, and additional electrical.’
Why purchase a Boutique Townhome?
Tania’s decision to build with Boutique Homes’ came down to quality. The 25-year structural and 12-month Boutique Assist service warranties provided her peace of mind, while brand name inclusions, European appliances and double glazed windows sealed the deal for Tania.
‘Agents are already estimating that I could fetch $40 to $60 more in weekly rent than similar properties in the same suburb. A premium product that is aesthetically pleasing and requires minimal maintenance really does seem to pay off,’ says Tania.
‘I’ve built with two other builders in the past and had less than ideal experiences. When I build again, it will definitely be with Boutique Homes.’
What to expect from the build process
Tania’s new Boutique Townhome is due for completion in August 2021 but she says the service and quality to date have been nothing short of exceptional.
Customers are provided a comprehensive overview of the suburbs, blocks and floorplans available, and the rental data to match. From there, you choose your interior selections and optional upgrades, before locking in a price and signing land contracts. After that, it’s a matter of waiting for the land to title and for building permits to be approved.
‘The entire process has been smooth sailing, with the build actually running slightly ahead of schedule despite the challenges of COVID-19,’ says Tania.
‘The communication has been simply brilliant – I’m given weekly updates from my Site Manager or Client Liaison and frequent opportunities to visit the site. It’s really exciting to see the home come together.’
Tania’s top tips when building a Townhome
- Consider your Townhome location carefully: Townhomes that are close to quality amenities – such as shops, medical centres, public transport, and parks – will ensure higher and more secure rental yields.
- Do your due diligence: Research is really important. Compare historical home values and rental yields for Victorian suburbs. You can also lean on your New Homes Consultant and development team, who have vast experience and knowledge in this area.
- Choose a quality builder: If a build is cheap, it’s usually that way for a reason. In my experience, a poor-quality build will only result in undue stress and financial outlay in the long term. Remember, your tenant can withhold rent if your investment property isn’t up to standard! Opt for a builder that you can trust, and who backs themselves with industry-leading warranties.
Are you interested in purchasing a Townhome to occupy or rent?
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