Purchasing a terraced house has grown in popularity in recent years, especially among first-time buyers and young couples. This growing appeal has been balanced by a gradual rise in prices, with the average price of terraced land increasing more than any other property group over the last year.
According to a recent study, the price of a traditional terrace house has increased by 239 percent in the last 10 years, compared to an overall increase of 205 percent.
While this may appear to be a concerning statistic, terrace houses continue to be the least expensive property type in the UK. So, what does a potential customer look for while making an investment in terraced housing? What are the advantages and disadvantages of this common property type? Here are some important points to consider:
Outdoor spaces are some of the most frequent sacrifices consumers are required to make while purchasing terraced homes. A terrace is likely to have a much smaller backyard than other property varieties, so you will want to look for nearby recreational areas for yourself or, particularly, for infants to compensate for the loss of green facilities.
On the bright side, one of the common benefits of living in terraced accomodation is access to nearby stores, classrooms, gardens, and public transportation – but don’t take this for granted. Take the opportunity to explore the immediate environment and think about the practicalities of your preferred place.
Security and Safety
Locations which are well at night, clearly accessible from neighboring buildings, and have a consistent congestion are usually the best. When viewing terraced homes, take into account the state of the street and adjacent properties – if you have kids, remember the risks of nearby roads, as well as if there is enough street lighting for adequate protection.
The availability of rear entry to the house, which is typical on terrace roads, is another significant safety aspect to remember. Many of these have alleys or tunnels that go through the back of the buildings, which may pose a security risk.
It’s important that you consider this access with security in mind.
The Building Process
Taking a close look at the outside of a possible terraced property before moving inside. Think how much maintenance or repair would be needed – are there any apparent defects or deficiencies that need close examination? Pre-purchase checks may be performed by building contractors or inspection companies, but if you have any doubts regarding the technical state of the house, it is safest to have it checked out by a specialist.
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