There is no denying it, Perth block sizes are decreasing and have been doing so for the past 7 years. While it can be hard for some home buyers to come to terms with the fact, especially when they think that owning a home on a narrow lot will come with compromises, its time to get on the narrow lot train because the trend is only set to continue. Let’s take a look at two reasons why narrow lot homes are a good investment in 2016.
Changing ways of living
No matter how much a we might want to, one thing that we can’t stop is change. Twenty years ago first time home buyers in Perth were looking to purchase modest size homes cheap NBA jerseys on large blocks of land so that in the future there was ample room to expand living spaces.
Some years later a new wave of home buyers entered the market who were looking to build large cheap MLB jerseys houses on even larger blocks of land, Deed with 4 bedrooms and 2 or 3 bathrooms becoming the standard in home design. In recent years the landscape has shifted once more and rather than planning on staying in the same home for the rest of our lives, first home buyers today are a little bit more practical.
Narrow lot sizes that can accommodate Get stylish homes that have 3 bedrooms and 2 bathrooms are what the majority of buyers are seeking today, the majority of which are young first time home buyers. This brings us to our next 2 point, the driver behind our changing ways of living.
10 years ago the property market in Perth was fair, land prices accounted for about one third of the cost of buying a house and land package. A mere two years ago in 2014, the cost of land spiked, costing home buyers two thirds of the cost of a house and land package. This is the stage where first home buyers were pushed out of the market and began to see home ownership as a far off dream instead of an attainable reality. Thanks to the influx of home builders specialising in narrow lot homes, the discrepancy between the price of house and that of land has virtually disappeared, making purchasing a home affordable for buyers.