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What Type Of Residential Property Is Right For Me?

Have you finally decided to purchase a residential property? The decision-making doesn’t just end on whether or not you should purchase a property. This is actually the starting point of many more decisions that you need to make on your Perth real estate buying journey.

Before you even start reaching out to your buyer’s agent, you need to decide on what type of residential property you want to buy. There are various factors that you can consider when choosing from the different types of residential property. Aside from budget, you need to consider your lifestyle, family size, needs, and wants in a home. Set your non-negotiables. This can help you decide what type of residential property is best for you.

To help you get started, here are 5 types of residential properties in Perth that you can choose from:

Single-Family Home

single-family home, one of the types of residential properties in australia

Single-family homes are one of the most popular types of residential houses in Western Australia. These are usually stand-alone houses or detached residences that have their own free-standing building. Buyers of this type of property own the land and can demolish, renovate, or choose to extend their dwelling as long as it complies with their local regulations. They can also choose to build either a single-story or two-story home.

This type of home is perfect for growing families with young children as it usually comes with more space and more privacy as well. However, it can be more expensive because of land rates and full maintenance costs.

Strata Residence

strata home, one of the types of residential properties in australia

A strata home is a type of residence that often shares a common wall with the house next door. Unlike detached houses, strata houses are often cheaper to build and maintain. However, they are usually smaller in land size than stand-alone or detached houses.

This type of property is perfect for a small family who wants more privacy than what apartments or flats can offer.

Duplex

duplex, one of the types of residential properties in australia

Duplex is a residential property that is composed of two homes in a single building. In Australia, the style of both homes is usually a mirror image of each other. Each home has its own door/entrance; hence, it can be occupied by different families. 

A duplex can be a great investment as it can either be on a single title or two separate titles. Therefore, it can be individually owned or sold. Most investors who plan to rent out properties also choose duplex due to the opportunity of having two rental incomes while having a lower land cost. This is because it requires less land than stand-alone homes. Some investors also use one side of the dwelling and rent out the other.

Apartment

apartment in australia

Apartments or flats are commonly found in more urban and commercialized areas where land is scarce and expensive such as real estate prices in Perth. They can range from studio flats to flats with several bedrooms. Some mid-range and high-rise apartments also offer excellent amenities and facilities.

Apartments are perfect for single individuals and small families don’t need that much space. It’s great for people who want to live in the city but can’t afford to buy stand-alone houses.

Townhouse

townhouse in australia

In Australia, townhouses are often found in the suburbs of major cities. They are more affordable and are considered a better choice compared to apartments. More townhouses are being developed in prime suburbs where the land is scarce and the houses are becoming more expensive. 

This type of housing is a great choice for small families who plan to upgrade from apartments and would like to relocate to prime areas or cities of Perth.

Buy a House that Suits your Needs

Whether it is your first time buying a house in Perth or not, make sure to research which type of dwelling fits your lifestyle. Think about your long-term goals and plans. Do you think an apartment will be ideal for your plans in five to ten years or are you thinking about growing your family? Proper planning and foresight are needed when purchasing real estate.

Once you have already decided on which type of residential property is right for you, reach out to an experienced buyer’s agent to help you find the perfect home based on your criteria. Buying Perth Real Estate has experts that have a vast knowledge on Perth real estate. With their constant monitoring of Perth prices, rentals, and sales, their expertise will make your buying journey hassle-free.

Before you start your search for your dream home or your investment property make sure you contact the most experienced Buyer’s Agent in Perth at www.buyingperthrealestate.com.

Timing The Market or Time In The Market

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