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6 Types of Residential Properties

3 June 2018

Thinking about investing in a residential property? First things first, identify your needs and foresee how they will evolve in 10 years’ time. This will help you decide on the right home for you—not just the one that’s right for now.

At One Agency Baulkham Hills, we feature plenty of homes that can fit your lifestyle. Keep reading to know more about what each type of home offers.

Houses

A detached single unit house can be built in various sizes and come in different types, from a modest bungalow to a modern split level house and even a million-dollar mansion.

Undoubtedly, a 2 or 3 bedroom house is a neighbourhood fixture. For many people, it is the ultimate dream home. For one, you get maximum privacy, freedom to do what you want with your space and complete independence as an owner.

See also: For Lease Properties

A growing family with young children may want to move into a residential house in a suburban area, where most residents are composed of similar family structures and backgrounds. Another upside is that the surrounding environment is ideal to raise children and own pets.

residential property - house

Though the price is normally higher and the maintenance greater than most types of homes, the return on investment makes up for it. Over time, the value goes up. Should you decide to sell your home in the future, you can charge a premium.

Duplexes

Those hoping to keep their extended family close will find that a duplex offers just what they need. Duplexes allow families to live beside their loved ones, without the overcrowding that comes with staying in under one roof. Potentially, the market demand for dual occupancy residences will rise as Sydney’s population gets older.

residential property - duplexes

Offering a more affordable housing solution, a duplex home also opens up the opportunity to create two income revenues on a single residential property. As the owner occupier, you have the option to lease the other half of the property. In terms of resale value, a duplex house will edge out a home with a granny flat, thereby attracting more buyers.

Apartments

Ideal for first-time homeowners, apartments offer everything you need in a home on a smaller scale. For individuals living on their own, studio apartments and 1 bedroom apartments are the most preferred choices. Newlyweds and young married couples also view apartments as a perfect starter home.

See also: For Sale Properties

Another alternative is the loft unit, which is characterised by high ceilings and a mezzanine that overlooks the living space. A loft apartment’s mezzanine would typically contain the bedroom.

residential property - apartment
Aside from a loft and studio flat, an alcove studio apartment makes space for a cosy bedroom area. Otherwise, the place can also be walled off to create a dining alcove. If you can live with limited space and lack of privacy, apartments really are a good overall option.

Serviced Apartments

And then there are luxury serviced apartments, the primary target market of which are individuals with high income. Also referred to as condo hotels or aparthotels, the units in these buildings are beautifully appointed with furniture, decor and appliances. In general, features of serviced apartments focus on convenience and comfort.

For retirees, living in serviced apartments is one way to enjoy the fruits of their labour. Now that they have sold off their single family residence, they can now finally relax in a home that provides hotel-style services.

Those advanced in age may also want to consider fully serviced apartments meant for assisted living. Daily meals, weekly housekeeping services and support from a personal care professional are part of the arrangement.

Townhouses

Townhouses are perfect for prospective home buyers who fall in between wanting to move beyond apartments but unable to afford a land lot with a house. Just because you lack the funds to buy a single family home as of now, it does not mean you have to lock yourself out of the real estate market.

residential property - townhouses

Image source: Wikipedia

 

Attached to other townhouses in a row, wall borders and garden space are shared. Still, a townhouse would be priced lower than a single unit house in the same area.

Acreage/Semi-Rural

If country living is more your style, modern acreage homes will be right up your alley. Semi-rural country properties can be constructed in a wide variety of architectural designs, from an expansive two storey house with 4 bedrooms to a ranch style house with verandahs.

A private sanctuary with sweeping views of lush greens and clear skies paints a picture-perfect idyllic lifestyle. A quiet homestead tucked away on the outskirts of town, these properties take you closer to the great outdoors. However, be prepared for bushfire and pest infestation risks.

At One Agency Baulkham Hills, our real estate agent professionals can explain the advantages and disadvantages of each residential property in detail. Call us on 02 9686 7999 anytime.


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