Deciding to buy comes with many decisions – what type of home, how many bedrooms, and of course, where? Whether you’re familiar with an area or not, it’s a good idea to research a location before you buy.
So, what factors do you need to consider?
Put your detective hat on and start digging. You want to look at recent sales in the area, check out any future development plans that might be in the works (check Council websites for this), supply and demand and identify any factors that could point towards future price growth. To identify this, you might need to look out for new infrastructure being built including train lines, shopping centres or even schools.
The good news is, Aussie offers free suburb and property reports with an appointment so you have some of this information at your fingertips!
Meet your future neighbours
The Australian Bureau of Statistics is a good source of facts and figures on population growth and demographics to ‘get to know’ your neighbours before you potentially move in. Combine this with information sourced from local council websites to see whether an area you’re looking at is experiencing population growth or declining numbers.
Wear out some shoe leather
Ultimately there is no substitute for visiting a location yourself. Be sure to visit at different times of the day and night so you get an idea of the kind of lifestyle you might expect. It’s also a good idea to check out the local schools, transport and shopping options.
Before you buy, having a big picture understanding of the future area you could be living in can help your decision. This research may also help you narrow down your options and reveal something you don’t like about an area you once loved! As the old adage goes, knowledge is power - so research is key!
If you’re ready to start researching, request a free suburb report from an Aussie Broker today.
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- Chapter One : Getting started
- Chapter Two : Your Dream Home
- Chapter Three : Money Matters
- Chapter Four : Ways to Purchase
- Chapter Five : Understanding Interest Rates
- Chapter Six : Understanding Home Loans
- Chapter Seven : Lending Sources
- Chapter Eight : Getting Your loan
- Chapter Nine : Choosing a Home
- Chapter Ten : Steps to Settlement