Why a Townhouse Development Makes Financial Sense

Walk around any inner-city suburb of Melbourne, and you’ll come across an abundance of townhouse developments. 

As the city recovers from the COVID-19 pandemic, homeowners are prioritising buying or renting homes that feature spacious living features and a backyard. This huge shift in home buyer’s mindset is exactly why a townhouse development may just make the most financial sense in 2021. 

The Demand

Last December, Australia’s Centre for Population stated that by 2030, 6.2 million people will live in Melbourne. This would make Melbourne the most populated city in Australia, surpassing Sydney’s current record of 6 million people. This enormous rise in residents means many things, but one thing in particular for property developers – there will be a market for multi-unit developments, in particular townhouses. 

Beyond these statistics, the demand for townhouses is already present. Townhouses allow residents to get the best of both worlds – all the advantages of a home without the hassle of having to maintain a large block of land. They are also available in popular locations where a single home may be out of one’s price range. 

As the population grows and more residents are looking for affordable housing in ideal locations, townhouses will become especially popular in Melbourne. It makes sense to get in now before the townhouse development market becomes saturated. 

You Can Take Full Advantage of a Large Block of Land 

One of the biggest benefits of a townhouse development is that you can build a few residences on one block of land. By building two or more homes on a single property, you’ll generate additional sources of cash-flow, either from selling the townhouses or turning them into rental properties. Another alternative is to move into one of the townhouses and either sell or rent out the other residences.

At Mavi Built, we recommend building in high-demand locations that are close to amenities and public transport. Finding an empty block of land that meets this criteria can be tough, so another option is to look for a property with an old, existing house that can be knocked down to make way for your boutique townhouse project. 

How to Make Your Townhouse Development a Fail-Safe Investment 

The key to a successful townhouse development is quality and design. Of course, you should be savvy and cost-effective with your design and features, but this should never come at the expense of quality, otherwise you won’t attract buyers or renters to your property. You want to focus on simplicity, spaciousness and modern style. 

A dedicated builder with many years of experience will be able to guide you through the best way to construct a financially successful townhouse project. 

If you’re looking to build a boutique townhouse development in Melbourne, get in touch with the expert team at Mavi Built today. We’ve got many years of experience building highly lucrative townhouse developments and we’d love to chat about your vision.

___

Disclaimer: The information published in this article is of a general nature only and does not consider your personal objectives, financial situation or personal needs. Where indicated, third parties have undertaken research and we make no warranty as to the accuracy, completeness of reliability of this information. We recommend obtaining independent advice before you act on the content.

10 Things You Need to Know Before Building a Boutique Townhouse Development

Building a boutique townhouse development can be an exciting opportunity, but a project this size requires  planning & forethought. 

Download our detailed guide now:

Joshua Scuderi-Camilleri

Carpenter

Joshua joined Mavi Built in 2021 as a carpentry apprentice. He’s is in the process of learning the Mavi Built way and training alongside our senior members to work on defects, maintenance, framing, lockup & fixing work. We look forward to watching him evolve and work through his carpentry apprenticeship.

Andrew Branella

Carpenter

Andrew started with Mavi Built in 2020 as a carpentry apprentice. He has great carpentry knowledge and specialises in assisting with carpentry tasks, including defects, maintenance, framing, lockup & fixing work. Andrew is soon to complete his apprenticeship to be a qualified carpenter.

Kosta Kouzoumis

Leading Hand Carpenter

Kosta joined Mavi Built in 2019 as one of our valued carpentry members. He has great carpentry knowledge and specialises in building tasks, including defects, maintenance, framing, lockup work and fixing work. Kosta is an all-rounder who assists in various on-site carpentry roles and the management of key stages of building where required.

Luke Delaney

Maintenance & Defects Manager

Luke commenced with Mavi Built in 2020 as our maintenance manager. He has great carpentry knowledge and specialises in defects and ongoing maintenance for Mavi Built. Luke also assists in various onsite carpentry roles and the management of key stages of building where required.

Arif Yildirim

Contract Administrator

Arif started with Mavi Built in 2016 as an estimator, assisting with all tendering for Mavi Built. Arif is now a contract administrator, he is responsible for running live projects, schedule assistance, accounting liaison, key contracting preparation tasks, estimating and all administration aspects of running live and pre-construction projects.

Adam Gazic

Senior Project Manager

Adam started with Mavi Built in 2012 as a contract administrator and is now a senior project manager. He is responsible for running live projects, scheduling, accounting liaison, key contracting preparation tasks and general overview and planning requirements for any live and pre-construction tasks.

Christina Raftopoulos

Accounts and Admin Manager

Christina is George’s sister and started her career with Mavi Built as a bookkeeper in 2015. She is now George`s PA and Head of Accounts, looking after admin and finances. Christina assists George with administration and accounting duties, including contract administration, operations and other general tasks.

Rhys Cunningham

Site Manager

Rhys started with Mavi Built as a 3rd year apprentice in 2017. Rhys has followed a similar path to Daniel, starting as an apprentice carpenter and now being a head site manager. Rhys is currently undergoing a course to become a registered builder to further his career with Mavi Built and his knowledge in the industry.

Daniel Vassillos

Site Manager

Daniel started as an apprentice with Mavi Built back in 2009 and has made huge strides since then, becoming a leader in the company. He started as an apprentice carpenter, to leading hand carpenter, to the maintenance and defects manager to now being a head site manager.

Daniel is George’s right hand man, assisting to manage on-site duties and day-to-day functions, including the management of the on-site specialist team.

George Raftopoulos

Managing Director

A carpenter by trade, George began his building career with a successful carpentry business before establishing Mavi Built in 2009. Having worked hands-on building projects from the ground up, George has the technical knowledge and construction expertise to ensure all projects are built and finished to the highest standard.

George acts as the Construction Manager and Senior Project Manager on all projects and overseas all construction works, liaising with the site and project management team on a daily basis to ensure build quality, planning and client satisfaction remain the focus on all projects.