Real estate agents are reporting a dramatic change in property demands in the Northern Beaches area of Sydney. Over the last year there has been a marked increase in couples and small families considering duplexes and townhouses over traditional free-standing homes.
Location, Space, Competition
Duplexes and townhouses are fetching prices comparable with free-standing homes; but buyers consider them better value. As space becomes ever more of a premium residents care less about a lawn and garden and more about the home. The glorious beaches and natural splendour of the Northern Beaches is only ever a short walk or drive away, so why pay for land you’ll never use?
Buyers are looking for homes requiring a minimum of maintenance. As a result, sellers who have renovated their duplexes and townhouses have attracted enviable sales prices.
Position has always been an attractive sales point. But those residences in the same area are competing against each other. And buyers, it appears, are willing to spend a little extra to avoid the work of renovation.
Knowing What Buyers Want
People are working more hours each week than ever before. Consequently they have more money to spend, but less time for things like mowing lawns and home maintenance. Renovated duplexes and townhouses are filling this niche.
“The trick,” say the experts at Raise the Roof, “is to understanding what styles of homes buyers are looking for, and build or renovate for them.”
Owners of duplexes and townhouses in the Northern Beaches are sitting on goldmines. Often small additions, renovations, or embellishments in design can have a huge impact on the interest and prices these homes attract.
It’s Happening Now!
Just look at the types of homes changing hands in the Northern Beaches: 50 families recently attended an open viewing of a townhouse in the Manly Vale area! And across the city it’s estimated that 60% of new builds are townhouses or duplexes.
Raise the Roof have helped sellers in the Northern Beaches add tens of thousands of dollars to their homes. If you’re considering selling your house speak to them about pre-sale renovations that can dramatically improve the selling price.