Sometimes we need to compromise on our preferred location or relocate due to lifestyle changes and family needs.
So, what do your research to get a handle on different suburbs you might one day call home?
Can I afford to buy in this suburb?
Perhaps you have pre-approval or at least a budget in mind, which will give you a clear understanding of your limits when looking at various suburbs.
Whilst looking for properties for sale in that suburb, it can be helpful to search the major real estate portals for sold properties from the past three months to gain a clearer understanding of what homes in that area are being sold for.
When considering properties, it is important that you compare apples with apples; look for comparable properties that are of a similar size with the same number of bedrooms and bathrooms and are in a similar condition. Considering the allotment size is also important.
Take time to visit the suburb in person
Whilst scrolling online at properties in your future suburb can be helpful, it isn’t the same as physically going to explore the suburb. Get to know the local shops, schools, parks, and services to experience the community firsthand.
It is also important to look at which are the best and the worst pockets of that suburb, a prospective home might be on a main road or be right next to an industrial precinct which could impact your quality of life.
Explore the fundamentals
Head to the Australian Bureau of Statistics website to help familiarize yourself with the local demographic. They have a vast range of information on the typical people that live there, median mortgage repayments, dwelling types, and the breakdown of owner- occupied versus rentals.
You can also view suburb profiles on major portals such as Domain and Realestate.com.au, as well as council websites for information on new developments and planned infrastructure projects.
Ask an expert
Even if you don’t know a property agent in the area you wish to buy, contact them for help and their thoughts on buying. Often you will have an emotional connection to a particular property; sometimes asking a third party their honest opinion, can be helpful as they can pick up on things you may not have considered to ensure you make an informed buying decision.
