Period houses offer top-value because they are finite in number, have been built to last and have a strong sense of heritage and history.
In Adelaide, Queen Anne-style cottages, villas and bungalows enjoy strong demand. Experts say houses built before WWII are now proving to be strong investments because supply is increasingly limited as buyers desiring more modern homes send in the demolition crew.
In Adelaide, a Queen Anne home conjures a majestic vision of steep roofs, spectacular stained glass windows and towering chimneys.
They have large porches perfect for a warm summer’s evening and are often built on larger than average blocks of land. This is significant as analysis shows between 70 to 80 per cent of the value of a purchase is wrapped up in land value.
Based on British 18th century architecture, Queen Anne homes provide a fantastic opportunity for renovation.
Investors will see a Queen Anne homes as a wonderful long-term investment or a short-term gain by flipping when any renovation work is completed.
Finding a great investment requires a fine eye for detail, however. Wealth creation is not limited to the house itself. Buyers should consider the type of suburb, the size of property and the quality of the building before gauging whether it is a suitable investment.
Whether you are investing in, or buying a Queen Anne for your own home, it is critical you conduct your own research on the local market. Complement this with advice from professionals, such as a mortgage broker, solicitor, builder and a real estate agent.
Queen Anne homes are beautiful but be sure to take the emotion out of the decision, or you risk paying over the odds.
Four tips for finding the best value Queen Anne homes
- Find a strong or stable suburb in terms of prices
- Look for character homes on good streets
- Find out how similar properties have performed in the suburb in terms of time-on-market and sale price; and
- Understand the optimal size and condition of the house to evaluate possible renovation costs and potential for re-sale