Things to Consider When Choosing a Neighbourhood
Depending on your familial and financial situation, as well as your local property market, there will be a number of different things you look for when you're buying a property.
These factors can drive a price up or down, and perhaps even give you an edge at the negotiating table. Let's take a look at what you should be keeping an eye on when you buy.
A checklist to work out what's important - to you
Do You Know What to Consider?
Depending on your familial and financial situation, as well as your local property market, there will be a number of different things you look for when you're buying a property. These factors can drive a price up or down, and perhaps even give you an edge at the negotiating table. Let's take a look at what you should be keeping an eye on when you buy.
Everyone wants the best education possible for their children, and a lot of the time this means securing property in the zone of a great school. Even those without children can benefit - the demand for this type of neighbourhood can really drive up prices, making nearby property a great long-term investment.
A safe home is a great home. And while the Australian Bureau of Statistics noted a decline across 2013 for a wide range of offences, including robbery and motor theft, it's still important to keep your family safe. Part of this is checking crime reports for a neighbourhood you want to buy a home in, and making sure it's going to be a stable place to live.
If you're in your older years, you're unlikely to want a home with 50 stairs to climb to reach the front door! Likewise, if you drive, you need to make sure a driveway or garage is on hand as well. On top of this, you might want to check the main roads to your neighbourhood - are you going to be stuck in traffic on your daily commute to work?
Another important part of accessibility is public transport. Having bus and train lines run near your neighbourhood means easy access to all that your city has to offer - and less money spent on petrol!
Finding the right stores, markets and outlets that suit your lifestyle is crucial to picking a neighbourhood. Can't go without your 8:30am coffee on the way to work? Then you're going to need a neighbourhood with a good local cafe. If you only buy organic, then you'll want a neighbourhood with a local farmers market.
While public transport is great, you might not want it right outside your door - the rumbling of buses and trains can be a pain when you want to sleep! The same goes for neighbours. Consider going for a late night drive through a neighbourhood on the weekend to gauge noise levels, and decide if you really want to move there.
A daytime drive helps too: How does the neighbourhood actually look to the naked eye? Are power lines blotting out the sky, or is it a paradise of rolling green parks? By digging in and looking around, as well as doing some research, you can find a neighbourhood that truly meets your needs.
You may also like to download our free Open for Inspection House Checklists here OR our Open for Inspection Apartment Checklist here.