How to Find the Right Home
In the near future and maybe for many generations to come, you will be living with your new neighbors, environment and suburb. In order to get property at a good price, you must first know what you want and do your research. A suburb’s character can be as vital to your home’s value as the property itself. In older suburbs, terrace houses and tree-lined streets preserve a way of life and a slice of history. Landscaping and playgrounds can be integral to the feel and lifestyle of outer suburban areas.
Before you purchase your home or investment property, explore where the suburb has been and where it’s going. There is no single definition of a good neighborhood but the neighborhood must possess the characteristics that you are looking for. The property should also meet your planned usage as your cottage house or as an investment apartment for your future tenant. Young families may value schools and parks, whereas others may crave cafes, theatres and restaurants. Nevertheless, every suburb must possess some basic features such as:
- Low crime rates
- Quality schools
- High employment and a strong local economy
- Council or government planning
- Residential stability
- Necessary amenities provided
The 5 Tips to the Right Suburb
A small percentage of home buyers end up purchasing a home in their first choice suburb. Most have to be realistic and compromise. Keep these five pointers in mind as you decide.
1. Consider your short, medium and long-term housing needs
Would you be planning a family in the near future or about to retire soon? Consider if easy access to public transport, schools and shopping an important issue for you or your family? Do you need to know people in the neighbourhood and does the community suit someone at your stage of life?
2. Do your research
Local Councils keep a lot of useful information on many suburbs and planning guidelines and budgets. Demographic trends, crime statistics, property values and data on schools and employment can help paint a clearer picture of a neighbourhood.
3. What sort of resident are you?
Do you seek for more open spaces or does the hustle and bustle of city living excite you? Are you a social butterfly or do you prefer a quiet relaxing night home drinking your favourite glass of wine? Deciding what sort of lifestyle appeals to you can indicate the sort of housing you buy. Getting to know the community by talking to local residents, estate agents and traders might give you an idea whether you might enjoy your new home and environment.
4. Speak to local council
Make an effort to speak to the local council about how it is handling the push for medium density housing and urban renewal. Study the planning guidelines and read the local paper to assess the extent of development issues.
5. Consider likely resale issues in the future
Most Australians households move every seven years, so resale value is crucial. The quality of a neighbourhood plays a big part in your home’s future resale value.