Among the many residential properties in Singapore are houses lined up uniformly and occupied by neighboring home dwellers. Terrace houses, also known as row houses or townhouses, are famously recognized as landed properties that offer residents their own private space without the hefty price tag and expensive maintenance dues. Terrace houses can also be built in designated mixed landed housing areas, but only if the site area is able to meet the minimum requirements of plot size and width. Moreover, terrace houses need to adhere to the allowed height and area guidelines to meet a certain location’s building standards. With these requirements set aside, terrace houses still remain a popular choice among small families and individual homeowners in the country.
What is the Difference Between a Terrace House and a Detached House?
While terrace houses are generally built in different land titles and areas, they are still connected to each other through a series of properties. Detached houses, on the other hand, are built in standalone structures and are free from any connections to other properties.
Why are Terrace Houses Cheaper?
Terrace houses are generally cheaper because they have smaller plot levels and are usually located in mixed landed housing areas. On the other hand, standalone and exclusive properties such as detached and landed homes have more area coverage and are not limited to any construction rules.
Are Terrace Houses a Good Investment?
Terrace houses are a good investment choice because of their affordable market prices and potential real estate growth in value.
What Are The Features of a Terrace House Property?
- Privacy in your own property - Although terrace houses are properties joined together by forming a row of other similar properties, they still offer the right amount of security and privacy for every homeowner. This is because terrace houses are still independently separated from each other, complete with their own set of mini garage areas, gardens and backyards.
- The most affordable landed property type - With premium detached and semi-detached properties going for S$13,100,00 and S$4,123,200 in the market respectively, terrace houses serve as the cheaper alternative for the landed property niche. Usually sold at an average price of S$2,858,000 for the property’s higher end iteration in the market, terrace houses allow new homeowners the chance to score a landed property at the better price amongst the three.
- They can be built on a mixed and individual area - Whether it’s a designated mixed landed housing area or an individual area, terrace houses are able to be built on both land types as long as they will adhere to the requirements and guidelines of the location. This includes the maximum limit set for height, width, size and area coverage.
What Are The Best Renovation Ideas for Terrace House Properties?
- Clean and natural interiors - If you’ve been meaning to spruce up your terrace house without making any outlandish modifications, a clean and natural design should be right up your alley. Incorporating minimalist design inspiration with emphasis on natural lighting and importance of space, this idea is perfect for families or individuals looking for a home with design and functionality.
- Modern industrialist - If you’re an owner of an old terrace house and are looking to revamp your home to get with the times, a modern industrialist design should be at the top of your list. With a combination of wooden accents and industrial finishes in the interiors and furniture, this design idea perfectly captures the charm of the old and the appeal of the new.
- Modern contemporary - For a new and contemporary take on the traditional terrace house, this design and renovation idea incorporates state-of-the-art touches — from interiors, exteriors and all the way to the furniture and accents.
How Much Does a Terrace House Cost?
When it comes to the higher end version of the property, a terrace house can go for an average price of S$2,858,000 at the real estate market. If you’re planning on rebuilding or renovating a standard three-storey terrace house, expect to shell out at least S$250,000 and above.
Breathe New Life Into Your Property
If you’re looking to rebuild or renovate your property, ColeBuild can help you make the whole process easier by helping you plan and build better. We offer qualified construction and building renovation services for different residence types in Singapore. Contact us today for a free consultation.