How to get a 3-bed town house for under $300,000
Great tips for buyers looking to snap up a property deal in Queensland
Getting on the property ladder is undoubtedly harder than it has ever been, but Queensland is seeing an exciting increase in affordable property — including three bedroom town houses for under $300,000.
The Sunshine State has seen interstate migration rise every quarter since 2015, so it’s no surprise that townhouse construction is now booming in the South-East.
More than 5,000 two-storey homes are set to spring up this year, which is a surge of almost 250%
It means that townhouse new builds are now overtaking the growth of unit construction, which has experienced growth of 170% this year.
The prospect of a spacious three bedroom, two bathroom home is certainly an enticing option for investors, particularly if it comes in at under $300,000 and sits in one of South East Queensland’s top growth suburbs.
John Barnett from Ray White Real Estate in Bundama, South-East Queensland, explained that the new builds are an enticing prospect for potential buyers.
“These do represent a real trouble-free investment,” Bartnett said.
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Zoran Solano from Hot Property Buyers Agency in Brisbane expressed concern about the potential ‘could be a glut of townhouses rather than units in the next two or three years.”
However, Solano conceded that this could be great news for those looking to downsize or break into the property market.
“By being in a townhouse complex it can give them the opportunity to have a pet , a ground courtyard area with a bit of grass that they might not be able to do in a high density unit or apartment,” Solano said.
Currently, there are already a huge range of affordable townhouses in Tanah Merah — including a 3 bedder with a lock up garage for $250,000.
Further north, for under $200,000 it’s possible to purchase a Morayfield property with a spacious living area that would be ideal for a big family.
On the Gold Coast, there are properties priced at $139,000, that include built in wardrobes and a balcony. Finally, further west in Leichardt, you can find three bedroom, two bathroom townhouses have just hit the market for $299,000.
But while townhouses can be good value for money, it’s worth being aware that those in big complexes can have large body corporate fees. It’s worth also considering smaller boutique developments — which are still affordable.
Finally, Zorano said that it’s important to consider the costs of your new build as it ages.
“Brand new buildings don’t need a lot of maintenance, it’s when they’re five or ten years old (that maintenance will need to be considered). If you’re looking to hold the property long term you need to be cautious of that,” Zorano said.