Updated on June 20, 2018
5 Best House Types for First Time Home Buyers
Is the Australian dream dead? As long as there’s someone who wants to buy a home, it will last. Who are the first time home buyers? They are being sought by the best home builders in Melbourne, they have the money, and they’re excited to buy!
To justify the house types, you must first know your identity as a buyer.
Zillow found that 47% of buyers are first-timers. Psychologically, a part of that 47% is in a stage of being tired with renting and wants to settle down already. These buyers also value professional real estate advice and online reviews about a builder or agent.
Meanwhile, according to the most recent data from 2015, the most common first-home buyers’ characteristics can be summarized as:
- Couples aged above 30, half of which have children
- Millennials who are tired of renting and have saved enough for a property
- Single men and women
Knowing your motivations and identity as a buyer clearly helps you in choosing a house. The best home builders in Melbourne help you identify that if you’re having trouble. For example, if you prioritize natural lighting because you’re energy-cost conscious, they might suggest that a split level home designs suit you. They are best known for being designed to properly distribute natural lighting.
Since 2010, the number of first home buyers purchasing already-established homes have doubled. If you’re one of them, remember that there is no perfect prototype for a first-time buyer like you. However, they should at least emulate qualities that make your first important investment worthwhile. Visit at Latitude 37
1. Split-level homes
These are often in-demand for their convenience and modern design features. Split-level homes are divided into three levels by a foyer with steps. Since most buyers are young families, its open plan and overlooking view of the pool and the yard often attracts them.
For the best home builders in Melbourne, natural lighting is a necessary staple for split-level homes.
Simply put, single-storey houses are the rock stars for first-time buyers. Because they’re in demand, they’re a worthy investment especially if it’s located in a suburban area.
Buyers also love them because they are easy to maintain and they’re accessible for children, aged people, and retirees. No stairs = fewer fall incidents and trips.
A house builder Melbourne has these days can sell a single-storey type starting from $300,000.
Buying townhouses is a characteristic uniquely possessed only by some first-time buyers. They prefer townhouses over detached, single-storey homes despite the latter’s popularity among first-time buyers. Townhouses attract them because it’s modern and often comes with high-end finishes.
4. A suburb home that’s located near a big city
The benefits of this house type is that gives the homeowners the privilege of living near a big city but without the expensive cost of living in it. You’re also living in a large block but it’s not densely populated. A suburb home is also affordable for a big, four-bedroom house that includes a media room.
If you still work in the city, however, the challenge for you is everyday commuting. You might have to change your habits and adjust to your new lifestyle.
5. House and land package
Builders in Melbourne usually sell these house-land packages for three reasons: they’re affordable, fully furnished, and low maintenance. First-time buyers also love the depreciation benefits that comes with it and the low stamp duty payment.
However, watch out for uncertainties and location compromise. Some packages do not attract capital growth.
With Australia’s behemoth array of properties, be sure to entrust your future with an experienced agent or builder.