Melbourne’s Bayside suburbs are well-known for being attractive and vibrant; both in terms of the architecture and nature, and the social scene. Residents get to enjoy the best of both worlds, living in stunning surroundings with great beaches and all the amenities of the CBD only a short distance away.
A lot of the architecture in the bayside suburbs are modern, but there are still a few areas that are unspoilt and feature classic period homes and fun restoration projects for house renovators. If you’re looking for an affordable property that you can renovate and turn into a truly luxurious Victorian home, the bayside suburbs are a great place to start.
Villages Full Of Character
The bayside suburbs have it all. Stunning scenery, plenty of shops, restaurants to suit all tastes and a thriving cultural scene. People are drawn to Melbourne’s bayside suburbs because of the way they have managed to progress and keep up with modern times, while still retaining some of the quainter characteristics of a previous era.
Where else, after all, would you see level crossings and historic architecture that is well preserved, yet renovated inside to offer a high standard of living?
The landscape of the bayside is generally flat, making it a nice place for seniors to enjoy. It’s an affluent area and it has good links to a lot of the infrastructure in other areas of Melbourne.
Investing In Bayside Property
These positive characteristics mean Melbourne attracts a lot of would-be investors, and even now it’s well worth considering property in the area:
- Properties in Melbourne often hold their value, even being ‘pandemic proof’
- Demand for properties is steady and high
- The amenities and beauty of the area give it a lasting charm for all age groups
While there are some period properties in need of a renovation that can be picked up for a reasonable price, another affordable option is replica period homes. Those who don’t want to spend time and money doing up a property may find that Victorian and Edwardian terraces are more expensive than modern detached properties of similar square footage.
A replica period property could represent good value for money, especially considering terraced properties appear to be appreciating in value at around 7.3 per cent a year.
It’s easy to understand why these properties are so popular. They offer nostalgia, a sense of romance, and some clear curb appeal. These factors are all hard to quantify but are strong motivators for buyers. As a property owner, if you can appeal to the emotions of a would-be buyer you’re well-positioned to make a strong profit.
Will the Appeal Last Forever?
Some changes in architectural style are a gamble, and it can be hard to be sure that they’ll pay off in the long term. The beauty of period property is that the style is timeless. Since it’s already ‘historic’ there will always be someone who is interested in it and who finds that style desirable.
Architectural trends are cyclical, and what is fashionable one year may drop out of fashion the following year. Some contemporary styles may never come back into fashion, but Victorian and Edwardian styles have already passed the test of time.
This means buyers can be confident that if they’re willing to be patient, there will most likely be a day when they’ll get their money back, and more, for the property they’ve invested in.
This is particularly true in Melbourne, especially around the bayside suburbs which is already an area in high demand for its schools, leisure, nature and amenities.
Families and retirees alike enjoy the area based on its logistical merits alone, and an attractive property can command a higher than average price for those looking to make their home in the region.
If you are looking for an expert to help with your renovation project in the bayside suburbs, then look no further than Bayside Extensions. Check out some of the projects and homes we have successfully remodelled and renovated.
Let us know your requirements. Share with us your vision and let us help you bring them to life. Schedule an appointment now for a free consultation.
If you are planning any extensions or renovations on your bayside home, please call us at Bayside Extensions today on 03 9596 0368 or leave an inquiry.