As the Australian housing market goes from strength to strength, our population swells and house prices keep going up and up, townhomes are growing in popularity. These terrace-style residences offer buyers an affordable way to own a brand new home – and enjoy a cosmopolitan lifestyle.
Offering more space and privacy than an apartment, but less maintenance and lower costs than a detached home, townhomes have become an appealing and affordable alternative. Not only are they architect-designed and carefully master-planned – located close to schools, shops and transport – they also offer buyers in all stages of life an affordable opportunity to buy new.
Rita’s new home journey
Affordability played a big role in Rita’s decision to buy a townhome. After living in her current home for over 30 years, the decision to sell and downsize was already a difficult one – but she also needed to feel confident she could stay financially secure in her next phase of life. “I’m turning 60 this year,” she explains, “so I didn’t want to go into another mortgage”.
For Rita, buying a townhome seemed like the perfect solution. It meant she would only need to put down a small deposit with no more payments required until her new home was finished. And it would also allow her to stay in her cherished family home for longer – something important to her for both financial and personal reasons.
“I realised I wouldn’t have to sell the house and move out immediately, so we wouldn’t need to pay rent in the meantime. It also gave me more time to get used to the fact that we were selling,” she explains.
The transparent process and great building and support teams have also helped her feel more comfortable through her journey. “There were no hidden costs, and everything they said they would do, they have done.”
Rita also liked the fact that she was able to purchase in a booming area at a fixed cost. She explains, “it’s a good location, so I thought it would make money”. And as an added bonus, she is likely to make extra money on her house too. She says, “as well as giving me an extra year and a half to fix up my place before I sell it – within that time the value has gone up!”
Now, with less worry about her finances, Rita can focus on what matters most – looking forward to moving into her new home.
“It seems to have a really family-oriented vibe and I like so many things about the way it’s done. I like the parks and the idea that there’s a shopping centre nearby so I can buy food every day instead of doing a big shop,” she says, “I’m looking forward to starting a new life”.