Family Home

Finding a family home that will grow with you

Date: 1st Apr 2015

Category: Homes

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.

552 Bourke Street, Surry Hills is a terrace home recently sold for $2,100,000. It has been updated to feel classic, yet is full of modern conveniences. Located in one of the area’s proudest rows, this is a preserved slice of Victoriana in a blue-chip spot.

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.

48 Batemans Road, Gladesville recently sold for $2,001,000. On almost 1,000 sqm, this patch of resort-like living unfolds behind an unassuming façade. An elevated north aspect fills the space with light & a green garden setting adds privacy.

Recently sold for $1.5m, this two bedroom terrace was meticulously rebuilt in 2013 to blend luxury finishes with traditional character. Tucked in a prized pocket, it’s perfection from the sunny attic, to the moody wine cellar – an appealing home for a small family.

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.

A primed white canvas with pops of colour shown from the interior of 29 Cowell Street, Gladesville.

“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.

29 Cowell Street, Gladesville is an example of a home that was bought by one owner, given a big veranda and a more “family friendly” garden & then resold for more, only a short time later. The first owners didn’t over capitalise. They simply made smart choices that made their home even more appealing to the next family.