Housing estates are becoming increasingly popular in South East Queensland – and they’re popping up all over the place! They’re affordable, designed for families, and generally offer a community-based lifestyle. But before you’re seduced by the cheap prices and packaged deals, are they worth the money and the commute to the city? What should you be looking out for if you’re interested in purchasing a housing estate property? What about developers – are they focused on producing quantity over quality? You definitely need to book yourself a pre-purchase property inspection before you buy when thinking about housing estate properties. For more information on housing estates and what you should look out for, read on!
The pros and cons of housing estates
Estate living can offer a multitude of positives – affordable home and land packages with the promise of a close-knit community. It all sounds just like the quintessential Australian dream, right? House and land packages in new estates are generally a lot cheaper than those of established homes in the suburbs, which means that first home buyers can enter the housing market even sooner. In housing estates like North Lakes, just north of Brisbane, this is pretty much the reality. Potential buyers in North Lakes are offered a choice of low set properties, town houses, multi-storied homes and units, all on various sized blocks of land. Another attractive feature of a housing estate is their design. Typically, estates are designed with families and communities in mind. There are often ample parklands, playgrounds, shopping centres, restaurants and other facilities on offer, which adds to your lifestyle as a resident. North Lakes has grown at a tremendous rate, and now residents no longer have to even venture out of the estate to shop, to dine or to see a movie.
On the other hand, housing estates can act as an unknown entity, which can be risky in something as precarious as the housing market. With such a limited market history, how can you determine whether you should take a risk on your home rising in value? How can you judge the quality of the build and save yourself thousands in repairs and renovations? The answer is simple. With a pre-purchase property inspection, you can future-proof your housing estate property purchase and buy smart. Look at the size of the block of land and the quality of the build and decide whether you’d be paying too much for what is essentially an entry-level house and land package. Armed with a little bit of knowledge, your family will have a future in a home that provides an active, happy lifestyle.