Everyone knows there are plenty of things to consider when looking at buying a new home, the most obvious being the financial situation of the purchaser, and the suitability of the property for their unique needs. But one aspect that I think is often overlooked is the area the property is in… How do you know if you’re looking at the best suburbs in your area?
It’s all very well finding the perfect home for you, your family, or your potential tenants, but can you live with the neighbours? Does anyone want to rent it? Is it close to schools, shops, and transport? Does it need to be?
Too many people purchase property because they fell in love with the backyard, the kitchen or the off-street parking and study room. But the postcode definitely needs to be taken into consideration in the final decision. Otherwise you could very well be living in your very own episode of Hell’s Kitchen before you’ve even unpacked the cutlery.
When deciding on the best suburbs to live in, it’s a wise idea to also consider your lifestyle needs and future family plans. For example, you might like to be close to the beach without being in the midst of a heavy tourist hot spot every summer. You might need close proximity to the CBD or airport in your city, whilst retaining a relaxed village feeling. You may need a suburb with larger homes, representing better value for the investment you’re about to make; or prefer a smaller apartment or semi-detached home that offers more opportunity for tight-knit community living.
Many suburbs in a range of cities are known for having a real community vibe, with locals enjoying a lively cafe culture. These types of suburbs offer a real up-and-coming market with a fairly affordable cool atmosphere — especially if they are near universities or popular schools.
For investment properties, inner city suburbs usually offer a good return due to their high demand and proximity to both major public transport routes and educational institutions like universities and tafes. This rule is generally true across all major international cities.
Whatever mix of lifestyle, community, affordability and practical considerations you might need, it pays to think about the suburb you’re buying into before looking at the bathroom finishes or final price tag. Finding a property in one of your own ‘best suburbs’ for your area could make all the difference in your final destination on the property ladder.
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