Townhouse Analysis & Action
There is a sense of urgency around the process of qualifying a property before deciding to price to purchase. Simply put if you don’t commit the availability of property in the suburb you want the chances are it will be bought and soon only be the next suburb over will have available townhouses. We see and hear it all the time. What are the comparable prices? This one is asking for $10,000 less and is 2 square meters larger etc. – sometimes over analysis is your worst enemy.
It reminds me of the off the plan apartment market. When apartments were first marketed to the local Australian market we did not understand the concept of purchasing a property from a marketing brochure floor plan and maybe with a display suite or maybe not.
The result was developers would launch their projects overseas, more often than not in countries like Malaysia, Singapore and Hong Kong where property has been historically sold for and continues to sell in this fashion. The overseas buyers then whether they have first exclusive offering off market launch as we call it would be the first to pick the best apartments. The project would then be advertised and launched to the local market where local buyers would attend the presentation or appointment in the display suite to discover many of the apartments where already sold and not only that, the best ones or the one I wanted to buy was gone, on every level and every aspect in the building.
The local Australia market has learnt slowly and picked up that the sense of urgency is therefore paramount – hence project marketers and real estate agents having databases for off market before public launch exclusive development opening nights! Now take this to the townhouse market. Remember in the previous article we said that across all buyer types, first home buyer, couples, singles, young families, downsizers, property investors want to buy a townhouse because of the land and design component and it offers buyers a home or could be an investment in future or an investment for now and move in later in life.
I own my current house, I want to downsize, I want to live in the suburb I currently live but I cannot find anything. We hear this daily. And guess what the chances are you are not going to find anything unlike anything in life you do it yourself. We have many clients that say I want a new property with a new kitchen and bathrooms and good cooling and heating that has a great security system and plenty of storage and modern electronics – well time to build it yourself. We work with client to help design their ideal townhouse then work with helping you find a builder to build your dream townhouse on the block you currently live – just build 3 or 4 or 5 and that way not only do you get your perfect dream townhouse but with the builder hopefully make some money on the other townhouses you sell through our website!
Townhouses are in such demand that the whole whoopala of selling a home like getting photos, having a board up and so on is not necessary to sell the property, we currently have over 80 clients wanting to buy townhouses in inner and middle ring suburbs of Victoria alone on our client database. Listing your townhouse property on our townhouse developments website is free, as we are licensed real estate agents with a corporate license we can sell your townhouse to our database and field new enquiry to sell to them too. So if you own a townhouse that you currently have for investment or you live in, are a townhouse builder or developer with an off the plan, new or established project or townhouse product that you would like to sell please contact us and we shall be in contact with you. We are easy going and approachable and have a no suit policy so relax, we don’t bite!