In today’s cooler market, townhouses only take slightly longer to sell than houses.
In Christchurch, it takes 47 days to sell a townhouse (on average) and 45 days to sell a house.
#4 – “ ... Townhouses are dark”
Some townhouses have other units on either side, so they only have windows on the front and back of the property.
That means some poorly designed townhouses are dark. You don’t want that.
Others are modern, light and bright.
This is the same for all properties.
Some houses are dark and dingy, while others are flooded with natural light.
That’s why you’ve got to look at similar properties the developer has built. That way, you can make sure they build properties with the right-sized windows in the right places.
#5 – “Townhouses only have 1 car park. Most people have 2 cars.”
Some investors think that townhouses don’t have enough parking.
According to the latest transport data, 40.5% of households either have no car or only one car.
So having one car park suits 2 out of 5 New Zealanders.
Property investors are often a bit better off than the average Kiwi. So if your family has two cars, you might think every potential tenant will also have two cars.
But there’s a massive chunk of New Zealanders where having 1 car park suits them.
Townhouses have problems, but they also have pros
While townhouses have drawbacks, they also have drawcards.
The average townhouse is about 20% more affordable than the average house (in Auckland).
They have decent rental yields and are often closer to the city centre.