Purchasing a property in Frankston is not always an easy decision. A family home, modern townhouse and affordable unit each have different benefits on offer depending on your lifestyle and goals.
A lot of buyers look at the price or what they can get out of it, but the better question is: Which property will still work for your needs in five years?
Whether you’re a first home buyer, investor, downsizer or growing family, understanding the benefits and trade-offs of each property type will help you make a more confident decision.
Why Buyers Are Looking at Frankston
Frankston is increasingly viewed as more than a coastal suburb on Melbourne’s fringe.
What’s appealing to today’s buyers:
- Waterfront lifestyle and access to beaches
- Rail link to Melbourne
- Shopping and health facilities
- Education opportunities
- Continued redevelopment and investment in infrastructure
- More affordable entry points than many neighbouring bayside locations
The suburb remains popular with owner-occupiers, investors, first home buyers and downsizers, creating demand for a range of property types.
Frankston is worth considering, the problem is, it is worth considering.
The first decision you need to make is choosing the right location for your Frankston property.
Option 1- Buying a House in Frankston
When most Australians think about owning property, they think of a detached house sitting on its own block of land.
There are still a wealth of these opportunities available in Frankston and separate houses are still the dominant dwelling type in the area.
Why houses are still hot
A house normally provides:
- Additional land
- More privacy
- Greater outdoor areas
- Renovation requirements
- Room for additions
- Family friendly floor plans
Many buyers still place considerable value on owning land, since land is finite, whereas new dwellings can keep being built.
The Secret Advantage Most Buyers Don’t Know About
One of the most common mistakes that buyers make is to only focus on the house.
Professional property buyers typically consider:
- Block size
- Street cred.
- Potential for future renovation
- Development Opportunities
- School zones
- Neighborhood demand persistent
A modest house on a good block will sometimes do better than a more imposing property on a smaller lot.
Whose House Is It?
A house might be right:
- Expanding families
- Long-term purchasers
- Pet-owners
- Those who want outdoor space
- Renovation Buyers
- Those looking to be flexible in the future
- Possible drawbacks
- No house is perfect for everyone.
You might be:
- Rising purchase prices
- More maintenance.
- Gardening activities
- Increasing ongoing costs
Many buyers fall in love with a big backyard only to find out six months later that the upkeep isn’t as fun as they thought it would be.
Option 2: Buying a Townhouse in Frankston
Townhouses are becoming more popular because they are between a traditional house and a unit.
They tend to offer more room than many units, while still tending to be more affordable than standalone houses.
Why Townhouses Appeal to Today’s Buyers
Townhouses typically include:
- Several bedrooms
- Current floorplans
- Less maintenance
- Less land needed
- Cheaper than the houses
Townhouses are a practical compromise for many professionals and young families.
The Townhouse Reality That No One Talks About
A lot of buyers focus on the look of the home, not the inventory around it.
When people talk about properties in Melbourne, they often say that when there are many similar townhouses on the market at the same time, they can be more competitive.
Before You Buy a Townhouse Ask
- How many similar properties are there in the area?
- Any new developments planned?
- “What’s special about this property?
- Have you got your own outdoor space?
- Are there any corporate duties?
Not all townhomes are created equal.
If you’re looking at a townhouse that’s well placed close to amenities, it can perform very differently to one in a large development where dozens of similar properties are competing for buyers.
Who Makes an Ideal Townhouse Buyer?
Townhouses often fit:
- First time home buyers
- Families with young children
- Working professionals
- Buyers seeking modern amenities
- Downsizers looking for more room
- Weaknesses
Think about:
- Land Ownership Limitations
- Infrastructure sharing
- Possible body corporate fees
- Less ability to renovate
The biggest mistake buyers can make is to assume that all townhouses have the same long-term appeal.
Specifically, where and how.
Option 3: Buying a Unit in Frankston
Units are often the cheapest way to get into the market.
This means many buyers will enter the property market sooner rather than spending years saving for a bigger house.
Why You Might Want to Consider Units
Units typically include:
- Lower prices on purchase
- Fewer Maintenance
- Easier ownership
- Appeals to some tenants strongly
- Easy access locations
If you are a buyer on a tight budget, the choice is usually an easy one:
Buy a unit now or wait years for a house.
Oftentimes, it is better to be in the market sooner rather than later than to wait forever for the “perfect” property.
The Biggest Mistake When Buying a Unit
A lot of the buyers buy on price only.
A cheaper unit is not always the better deal.
Instead look at:
- Building state
- Strata fees
- Parking availability
- Security Light (natural)
- Future resale value
Two units at the same price can have very different results over time.
Who Should Consider a Unit
Units often work well when:
- First time home buyers
- Single professionals
- Retirees
- Investors
- Buyers that want to be affordable
Possible disadvantages
Units can offer:
- Not as private
- Smaller living spaces
- Common Facilities
- Less landholding.
Some buyers don’t have a clue how important outdoor space is later in life.
Thinking five to ten years ahead can help avoid costly upgrades prematurely.
Which Property Type Has the Best Long-Term Potential?
This is where many buyers are looking for a simple answer.
Unfortunately, property decisions rarely work out that simply.
The smartest buy, depending on your goals.
If family living is your priority
A house is often the best choice.
The extra space, flexibility and lifestyle benefits can compensate for the higher purchase price.
If you want Balance
A townhouse might be the best blend of affordability and function.
You get some of the benefits of a house without the full financial responsibility.
If Your Focus Is On Getting Into The Market Quickly
A unit could be the smartest move.
Sometimes it’s better to buy a property than to delay buying, even as prices continue to rise.
Questions Every Frankston Buyer Should Ask
Ask before you buy any property:
- How long do I have to live here?
- What will my life be like in five years ?
- Can I easily afford the running costs?
- Is location more important than size of property?
- Would I rather have more land or less work?
- How quickly could I flip this property?
Market statistics often make the right choice stand out more clearly.
The Smartest Purchase Isn’t Always the Biggest One
One of the biggest myths in property is that bigger is always better.
Actually:
- A house can be a place where a family grows.
- A townhouse might be chosen by a busy professional.
- A downsizer might love a low-maintenance unit.
The best buy is one that suits your lifestyle and puts you in good financial stead for the future.
Conclusion
Don’t look for a one-size-fits-all answer when comparing Frankston homes for sale.
A house offers you room and flexibility in the long run. “The townhouse is the happy medium between affordability and lifestyle. A unit is a good way to get into the market with lower maintenance obligations.”
Don’t ask what property type is best? Ask what property type is best for you?
At Aquire Real Estate we help buyers understand not only what is available, but what makes the most sense for their goals, lifestyle and future plans. The best property investment is not necessarily the most expensive one, but the one that fits with where you want to be in the years to come.
