Five extra things to consider when buying a property
The house might be amazing, ticking almost every box on your wishlist, but purchasing a property isn’t just about buying a physical structure.
A property purchase needs to be viewed in context of the community that surrounds it and the lifestyle that you’re hoping to attain.
With that in mind, here are five extra things to consider when buying…
Location, location
The location of the property is critical for a whole host of reasons. For some buyers it’s proximity to their workplace that matters, and for others it might be that region’s potential for capital growth.
That’s why it pays to really hone in on what exactly you’re looking for in the area where your potential purchase is located.
Is it good schools? Lifestyle? The potential for the property to increase in value over the long-term? Or the convenience of having your home located within an easy commute of your workplace?
Safety and security
For both renters and owner occupiers, safety and security of the suburb where a property is located can be paramount.
Whether you’re an investor or looking for a property that you will reside in, do take the time to research the area and spend time there at different times of the day
This helps determine whether it’s an area where you’re likely to feel safe or your renters will feel comfortable.
Amenities
Depending on what stage of life you’re at or who the property is deigned to cater to, certain amenities might be a pre-resuisite.
That list might include:
- Accessible local shopping centres
- Easy access to transport
- Medical facilities
- Education options
- Employment opportunities
- Sports and recreational facilities
- Lifestyle features like a semi-rural location, hinterland vibe, or coastal feel
Community
The local community can be a major drawcard for both owner-occupiers and renters.
Take the time prior to purchasing to discover that community, including how welcoming it is, what sort of events are on offer and how it feels to spend time in the area.
Are the people welcoming? Is it a place where they get together for events? Or does it quite simply have a great ‘vibe’.
Future development
As amazing as a suburb or street feels right now, it pays to consider what it might be like in the future.
Are the employment opportunities stable and ongoing? Is there future development or infrastructure planned that might change the liveability or feel of the area.
Prior to purchasing, every potential buyer should undertake due diligence that includes researching any future plans for that area.
Often this is as simple as Googling news articles or checking in with the local council. But it pays to be aware of what exactly is planned for that area moving forward.
Looking to buy or sell?
If you’re considering buying or selling a property, why not chat with one of our friendly agents on 1300 438 439 to understand the state of play in your local market?
We’re not just about property, but the people and the stories behind it. You can also view our list of currently available properties here.
