Townhouse and villa developments are residential complexes which can range in size from four to four hundred plus dwellings.
The main differences between stand-alone houses, and townhouses or villas, is the latter are in a development, usually a gated community, and share adjoining walls and are strata or community-titled.
This means that you own your parcel of land and your dwelling. You also maintain a share in the common areas and amenities. Villas are on a single level while townhouses are two-storied.
A more affordable option than stand-alone homes, townhouses and villas are low maintenance, and typically feature a private courtyard and grassed area to enjoy without having to worry about too much maintenance.
For many buyers, townhouses and villas offer the best of both worlds, and, as they are popular with tenants, investment townhouses can yield excellent rental returns.
The common areas may include car parks, gardens and many recreational facilities such as pools, gymnasiums, saunas, spas, barbeque, and communal lounge areas. The body corporate is responsible for insuring, managing and maintaining the common areas, and owners pay a strata levy to cover these activities.
Townhouses and Villas strata fees are set by the body corporate, and the cost is largely dependant on the maintenance of the grounds and facilities. Therefore, pools, tennis courts, playgrounds, extensive landscaping etc, while being attractive, can escalate the costs of holding a property.
These properties appeal to young couples and families, as well as middle-aged couples looking to downsize without sacrificing their living space and spare rooms. Better yet, the versatile split-level design of townhouses allows occupants to entertain or relax downstairs while the kids sleep or play upstairs.
Many townhouses and villas also come with a sense of community living, and give occupiers the space to enjoy their home while being close to well-maintained facilities including parks, cafes and community gardens.
Townhouses and villas are cost-effective, affordable and sustainable alternatives to stand-alone houses. Usually located within an area where land is at a premium, and house and land packages either aren't available or aren't affordable, they can often be a relatively affordable way to enter the property market.
We recommend buying in a development that has a point of difference and attracts increasing demand, such as on a golf-course or near a beach.
Townhouse developments located in the middle of suburbia that sit alongside similar complexes, will not experience the same growth as developments situated in desirable locations.