When entering the property market, it’s essential to have an understanding of the various housing options available, along with their respective advantages and disadvantages. Here are some different types of houses to consider:
House: A freestanding house on a quarter-acre block has long been highly desired for good reason. Homeownership puts you in control of your domain, with no other owners to consult when planning renovations or rebuilding. Compared to attached homes or apartments, freestanding houses are often larger and offer more private outdoor space.
Townhouse: If high house prices are making it difficult for you to enter the property market or you prefer a living option with less maintenance, a townhouse may be worth considering. A townhouse is a multi-story building, typically with two levels, that offers a home-like feeling but with shared walls between neighbouring units. The outdoor space is usually smaller than that of a freestanding house, with a courtyard-style terrace.
Terrace: Terraces are a classic form of attached housing that has been a popular option for city living for centuries. Typically found in the inner-city areas of Sydney and Melbourne, rows of terraces are a testament to the rich architectural heritage of these cities. Unlike townhouses and apartments, terraces are individually owned rather than strata-owned, providing more flexibility for homeowners.
Semi-detached: Semi-detached homes offer a unique blend of privacy and community. As the name suggests, these homes are attached to one other house, with a shared roof and one common wall. While they are similar to terraces in their design, semis have a side passage that is not attached to the neighbouring property, which allows for more natural light and airflow.
Duplex: Duplexes have one common wall and are freestanding on one side. However, they are typically two stories high and come with many modern inclusions, such as garages, that may not be found in older semi-detached homes. Duplexes are self-contained dwellings that can be built on a single title or over two titles, offering flexibility to both buyers and investors.
Villa: A villa is a type of residential development that consists of a series of homes constructed on a single block. Like townhouses, villas are strata titled, meaning that owners are responsible for paying strata fees and adhering to strata rules. Villa developments often include one home that faces the street, with additional homes situated further back on the block. In Victoria and New South Wales, a villa is typically a single-level home with an attached garage and a small yard. However, in Queensland, the term “villa” can also refer to a townhouse.
In summary, each type of housing has its advantages and disadvantages. Consider your lifestyle, budget, and location preferences before deciding which type of house is the best fit for you.