How to research a neighbourhood before you buy
When buying a new house, the location will always be very important in the decision making process
When house hunting, homebuyers tend to focus more on the property’s amenities. Does it have a nice kitchen? Is there enough outdoor space? Is there a pool? Although finding good amenities is important, what’s equally—if not a little bit more—important is finding a home in the ideal neighbourhood.
You can always add missing features to your house, but you can’t change where it’s located. To find the perfect suburb, you need to do your research. Here are a few tips for researching a neighbourhood:
Check its proximity to key areas
Consider if it’s ideal to live closer to where your work is located. Length of commute is a major factor that can affect your overall quality of life. It is also an expense that can be costly. Living a long distance away from your workplace means lost time and extra expenses. This is worth weighing up, as living further away from a capital area could allow you to afford a larger house, if that is one of your requirements.
In addition to your workplace, you should think about your potential neighbourhood’s accessibility to public transportation. Even if you have your own car, living in a suburb that’s close to public transportation can make going in and out of your neighbourhood much easier. Having other transportation options available, even when you don’t necessarily need them, can be an immense convenience, especially if you have to travel to a capital city for work.
It’s also a good idea to check if there are any hospitals, pharmacies, and supermarkets nearby. Living close to these key facilities can make life more convenient. You don’t have to travel far to get necessities, and it’ll be easier to seek medical care in case of emergencies.
See if there are schools or childcare in the area
If you have school-age children or are planning to have children in the near future, finding a suburb that’s close to daycare facilities and good schools is a must. You’ll be spending every day driving or commuting to and from your children’s school. Having one that’s close to where you live will make life easier and put less stress not only on you but on the kids, as well.
For those who don’t have children, buying a house near good schools can also offer benefits. Usually, properties near schools or childcare facilities tend to net higher property values or are more sought-after by both buyers and renters. If, down the line, you plan on selling or renting out your property, having one close to a school can increase demand for it.
Look at the nearby community amenities
Aside from the essentials like your work, healthcare, transportation, and schools, the ideal suburb is one where you have access to good community amenities such as local parks, libraries, sports centres, and other recreational facilities.
Think about the amenities that are important to you and find a suburb that has those within the area. If you’re the active outdoorsy type, for example, being close to parks, hiking trails, and other nature destinations can make a huge difference in your enjoyment of the neighbourhood.
Know the lifestyle
Suburbs have their own atmosphere that’s unique to that area. When shopping around for a property, you want it to be in a suburb that matches your lifestyle needs. If you have a young family, a good environment may be in an area that consists of families as well. For those who are retired, being in a neighbourhood with other retirees can make it easier to build connections and community.
Don’t be afraid to strike up a conversation with your potential neighbours. You can simply wave at them and say ‘hi’ and see if they answer back. Having a simple chat with a few residents or observing the neighbourhood can give you a good idea of the vibe of the area.
Walk around the neighbourhood
The best way to get a feel for a suburb is by going there and seeing everything for yourself. Just walk around the streets to see how far away the facilities are (e.g., transport, schools, and shops). You'll also see if there are any nearby restaurants, cafes, and local parks on your walk to and from your potential property.
Doing this will also help you determine how walkable the suburb is. Your GPS may say that a certain destination is only a few minutes on foot, but it won’t tell you the actual condition of the streets and whether it’s easy for pedestrians to walk through.
Visit the property at different times of day
A suburb can be different on different days and at different times of the day. Visit in the morning, in the afternoon, at night, during the week, or on the weekends. The property could be quiet on the weekends with very few cars coming and going, but come Monday, it may get congested and noisy. Or a nearby alley that looks perfectly harmless during the day can look different at night if there are no streetlights.
Doing this kind of research can give you an idea of what the surroundings will be like at different times of the day. You’ll never know until you see for yourself. It may take a bit of effort, but it’s better than getting blindsided on moving day when the peaceful neighbourhood you thought you were moving into was livelier and busier than you thought it was.
Get a suburb report
For those who are leaning towards investment, doing market research of the suburb is a must. You need to understand local real estate trends to figure out the best investment strategy.
If you want to have a comparative market analysis of the neighbourhood, a suburb report may be beneficial. In this report, you’ll learn about the suburb’s median prices, market data, and demographic information.
Ready to buy a property?
When you’ve found the perfect suburb, it’s time to buy that property. Get in touch with loans.com.au today by calling 1300 183 284 and learn about your home finance options. Find home loans with real good rates and useful features that can help save more. Apply online today to get started!
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