Why Buy a Townhouse For Your First Home
Entering the property market can seem daunting but there is a way to keep it easy and less stressful.
When you buy your first home it’s tempting to go for the dream house that will grow with you so you’ll never have to move again. But big houses come with big responsibilities – including mortgages, grounds, maintenance and, sometimes, stress.
Instead, consider choosing a terraced house first. Townhouses are generally more affordable that other more traditional homes because they take up less land. But by building upwards you can still get a large amount of living floorspace – just at a lesser cost.
Townhouses also offer the additional benefit of fewer or smaller gardens to maintain. The first time you own your own home everything can seem overwhelming – you may have to make changes to your lifestyle to accommodate your new financial responsibilities or you may just be excited about being able to decorate however you wish without answering to a landlord. It makes sense to give yourself time to adjust and enjoy your new status as home owner before adding in too many other jobs (such as upkeeping large grounds) to your to do list.
Keeping your costs down when you buy your first home is essential. Terraced homes are more compact which means they are also cheaper to heat and cool. The living areas in a townhouse are zoned by design (common living spaces downstairs, bedrooms upstairs) so you can heat and cool only the spaces you are using which will reduce your bills.
Because townhouses are affordable and low maintenance, they appeal to all types of people. This means that it will be much easier to find a tenant if, in the future, you decide to rent your home.
And a terraced house at Aurora will be your house. Other cheaper housing options, such as apartments, still come with body corporate responsibilities. But if you buy a townhouse at Aurora you can rest assured that you own the freehold so it really is your home.
Buying a terraced house at Aurora doesn’t mean you have to compromise on your lifestyle though. Aurora is a masterplanned community which means it has been purpose built to include all the amenities you could need – such as parks and common gardens, retail and schools.
And don’t forget that if you and your partner are first home buyers, you may be eligible for a $10,000 First Home Owner’s Grant.