“The one bedroom villa in a small complex of 4 to 8, is a practical and affordable solution for many home buyers who want to live close to the city,” said Rick Collova, Director with PEB Group.
“The small dwelling is likely to become one of the most popular types of real estate as it allows all sorts of buyers to live in the inner metro suburbs without impacting on urban sprawl.”
“Generally these homes are around 30% cheaper than two or three bedroom villas in the same suburb.”
“This allows people to get into an area where they otherwise might not have been able to enter”
‘And because these types of dwellings are close to established amenities, such as shops cafes, entertainment and public transport, they encourage more walking so there is less need for a car and less of a carbon footprint on the earth.”
“They are also incredibly “green” (energy efficient), as our recently completed villas in Bayswater have 6 star energy ratings,” Mr Collova said.
Is This the Future of Small Housing?
One of the key attractions of these dwellings is that they are essentially a house on a Green Title. The owners get all the benefits of owning their own home for the same price as an apartment, but without any of the hassles.
There are no strata fees, management meetings, maintenance costs or noisy upstairs neighbours, and there is no sharing of car parks or common areas.
Plus the owners get a land component that apartments don’t offer.
As an example, for the recently completed project by the PEB Group in Moojeebing St, Bayswater, the total land area for one of these dwellings is around 250sqm.
The house takes up just over 70sqm with an additional 12sqm of alfresco living area and a small porch, plus it has a 36sqm double garage.
All up there is over 122sqm of usable living area under cover.
“It’s a very attractive and sensible form of infill housing,” Mr Collova said.
Attractive to All Ages
“These homes are ideal for singles, young couples, professionals, first home buyers and empty nesters who still want to live close to the city but don’t want the extra expense of buying a two or three bedroom home,’ Mr Collova said.
“They are usually around $100,000 cheaper than a two or three bedroom villa, so it’s a huge saving and an attractive option for many home seekers.”
“And for downsizers it allows them to stay in areas close to all amenities without blowing their budget.”
“Plus for first time property investors it allows them to buy an affordable property in an in demand area,” he said.
A Finished Example in Bayswater
The Bayswater villas, which have all sold out, gave buyers a brand new home built to modern specifications and energy ratings for just over $400,000.
The villas all included air-conditioning, internal blinds, floor coverings throughout, stainless steel kitchen appliances, high ceilings and full landscaping.
The layout includes one master bedroom with walk-in wardrobe, bathroom, family room, dining area, open plan kitchen and a study/lounge room.
“These homes are perfect for people who live a busy lifestyle yet still want the privacy your own home offers,” Mr Collova said.
“Compared to what else is on the market, they offer an in demand solution at a very competitive price.”
House and land packages for these projects are in high demand and sell well before building is complete. For more information on where the next project is, contact Rick Collova from PEB Group on 0419 950 997.
Did you know you can purchase property through your Self Managed Superannuation Fund?
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