For first-time homeowners venturing into property investment, deciding between a single-storey and a double-storey home can be confusing. Whether you’re considering buying, constructing, or renting a property, this choice has advantages and drawbacks. To make informed decisions, it's crucial to assess your specific goals and needs and seek advice from residential property experts.
Below, we have broken down some key considerations to keep in mind when investing in property.
Clarify your objectives
Before proceeding with any property-related decision, it's essential to define your purpose clearly. Whether you’re looking for a rental, investment opportunity or a home for your family, understanding your objectives is the first step.
Consider your household
Consider whether your family includes elderly or young children; the home's layout is critical. Single storeys offer ease of movement, whereas double storey requires extra caution to prevent accidents. When investing in a retired-oriented area, single-storey homes are often more manageable for older adults.
Location matters
The location of any property plays a pivotal role in the decision-making process. In crowded urban areas or prime spots, a double-storey house with spacious interiors and a garden can be advantageous. This extra space can be ideal for families with young children.
Affordability
Single-storey homes tend to be more affordable than their double-storey counterparts. Construction costs are typically lower, making them a more attractive option for first homeowners looking to invest wisely.
Kerb appeal
The appearance of your property holds significant value, whether you plan to live in it or use it for investment. Double-storey homes often have better visual appeal, while single-storey homes may appear more spacious from the outside. Consider what will attract potential buyers or renters in your target market.
Choosing between a single-storey and a double-storey home depends on your specific goals, location, land size, and local real estate trends. To make the most informed decisions, seek advice from a residential property valuer who specialises in providing comprehensive and valuable insights for first homeowners looking to invest.
Contact our team today and speak to an expert property valuer for the best-tailored valuation services you can trust and rely on. We are here to help you make a suitable investment for your future.