Family Home

Finding a family home that will grow with you

1.5-2.5m

The family home is an investment driven by practical needs. These are 1 million – 2.5 million dollar properties that can fit two children or more. This isn’t a property that will be bid for in a mad rush of blood. It might not even be the dream home you pictured on your wedding day. Rather it’s a life stage purchase that reflects that fact you are shifting gears and expanding the brood.

Property types: Look for cottages with really deep yards; two-story places with garages that you could convert to a rumpus room, or a terrace home on an L-shaped block that can be developed later on.

Hot Spots: Once again fringe hoods hold the key. For bargains in this category look to non-traditional suburbs like Stanmore, Camperdown, Glebe, Gladesville, Ryde and Redfern for better value. Accept that pushing out a little further might be necessary to get the breathing space you need.

Think design: From a design point of view, keep an open mind about where value in a property can be derived. Could you add an extra bedroom in order to improve its resale value? Does the garden badly need an upgrade? Would wonder architect Anthony Gill enhance the space and make it work for twin-boys? “Family homes are about flexibility and longevity, so a helpful design strategy is having a number of private spaces where children can have ‘alone time’ as they grow older,” says Nick Lobo Editor of Habitus. Considering these home improvement factors up front can save you a lot of time later.

“It’s equally important to have those shared living spaces – whether open plan living or outdoors – where everyone can come together,” Lobo says. Despite what is going on indoors, land continues to be a big draw card for families.

Hint: Don’t neglect to consider the block you are buying, and how it could be refashioned to suit your changing needs.

Keep reading:

> Just starting out crib

> Inner-city urban pad

> Six Star entertainer

> Return to main article

What to read next?

Market Report: auctions are back
Market Report: auctions are back
9th Nov 2021 - Homes
Market Report + our return to open homes
Market Report + our return to open homes
12th Oct 2021 - Homes
Apartment lift follows house growth
Apartment lift follows house growth
7th Sep 2021 - Homes
Market Report: lifestyle continues to drive our market
Market Report: lifestyle continues to drive our market
7th Sep 2021 - Homes