Townhouses are a great solution to inner-suburb living. If you are wanting to build but don’t need a lot of space a townhouse can get you on the path to owning your own home quicker. This style of development could also potentially offer some fantastic rewards on your path to financial freedom if you choose to subdivide. Having two townhouses on a lot can be a sound financial decision.
Advantages of a townhouse development may include:
1. Adding an additional income stream by renting a second property (if an investment property already).
2. Sell one of the properties and continue to live in the other (if it’s your primary place of residence). This option will give you the freedom to downsize whist still living in your neighbourhood.
3. An opportunity for a potential profit that could be utilised to pay off your mortgage or simply put cash in the bank.
Although it is a very similar process to a duplex development, a townhouse development will need to incorporate several other aspects to allow sufficient vehicle movement/parking areas and to ensure that the existing house meets current planning regulations. Developments by Impressions will ensure site meetings are held to accurately assess the opportunities and constraints in each and every project with a focus on maximising your returns.