Buying a Family Home For Investment
Making the right purchase is important in the long run
Location, Location, Affordability
Family homes are long-term investments, and everyone wants a home that ages like a fine wine. But how do you make sure you've picked a home that will age gracefully rather than depreciating in a few years? Here are some tips on finding the right investment piece.
While many people aspire to find property right in the middle of the city, there are also treasures to be found further out. It is possible to find great suburban property at a reasonable price, and within touching distance of the city. Homes in suburban areas have lots to offer families, and good infrastructure means you won't miss out on any aspects of city living either. Whether it's convenient public transport routes straight to the CBD, quiet streets for kids to play in or fantastic entertainment amenities, it pays to keep what interests families in mind when you choose an area to call home.
Planning for Planning
Each state has its own Department of Planning and Infrastructure or equivalent, that will regularly announce new roads and services for the state. Local councils also should have documents on their websites detailing their construction plans for the future. Seeking out the areas that have planned public transport links, schools and commercial centres can be very beneficial to your property search. A home that looks perfect for today may find itself in the middle of a commercial development down the line, which isn't ideal for anyone wanting to buy a family house.
Look for homes that you know you can improve yourself with minimal cost. Green thumbs should look for the spots where a beautiful garden can improve the value of a home, while the handymen among you could be on the lookout for homes that could benefit from a sleek new porch or maybe something for the kids to play on. Simple touch-ups like this can really help a home appreciate in value over time.
When you search for the right family home, you want a house that can cater for all ages. In the long term you may end up taking a parent on board, and we all know teenagers can be temperamental. Be patient, and make sure your investment home suits where you are now, and where you want to be in 10 years.