Suburb Selection: How to find the Perfect Neighborhood for your needs.
There are many things to consider when purchasing a new home, and it’s very well known throughout the real-estate world that “location, location, location” is right at the top of the list, specifically the suburb you choose. The suburb is one of the first decisions you’ll need to make when narrowing in on your options for a new home. Each option comes with their own amenities, personality, and style. With so many suburbs in Perth to choose from, how do you make such an important decision? Here’s a few pointers that will hopefully help you find the perfect fit.
Work out your priorities first.
One of the first things you’ll need to decide is, what your priorities are. Do you want to find a property with the most meters squared for your budget? Is it more important to be closer to family and friends? Does the zoning provide access to a preferred school? These are the kinds of questions that will assist in narrowing down the suburbs that fit your criteria, whether it’s in the outer suburbs, the inner city, or even in a more rural location.
Calculate your budget.
When comparing houses which are similar in size, where one is in a rural area and the other in an urban area, the difference in price can be shocking. In the end, your budget is going to dictate where and what you can afford to buy. Calculating your budget first will help you narrow down the suburbs you can access much quicker. Most of the time, the closer you are to the city the more expensive it is and the smaller the properties get. If you’re certain that inner city or urban living is for you, but your budget isn’t very high, then you may need to compromise on the size of the property or even consider an apartment to secure a home in an area you like.
Consider Public Transport options.
Will you need easy access to public transport? Many people working in the CBD like to use public transport to avoid traffic and the exuberant cost of parking; as Perth’s population grows, these issues will only increase. Additionally, properties in close proximity to these services tend to have slightly higher value and demand so even if you don’t require public transport, this could be a consideration for future resale.
Amenities and lifestyle options.
What kinds of amenities suit your lifestyle the most? If you’re a foodie, having a large selection of cafes and restaurants close by might be important to you. If you’re an active person and/or have small children, then having open spaces like parks and nice running/walking paths nearby would be ideal. Socialites may want to be close to bars and pubs or anywhere the action is.
Plan for the long term.
What suits your situation now may change over time, so it’s important to factor in your medium to long term life plan. If you’re a young professional, then a smaller property with great proximity to the city, transport and the social scenes may be perfect for you right now. However, if there is a possibility of having children in the near future, you may need to consider larger properties that are further out and what education/childcare options are available in your area.
Whether you’re an investor or buying your forever home, there is always a desire for it to increase in value over time. While the market can be quite unpredictable, there are many suburbs that have consistently outperformed others and shown steady growth over the years. If you fancy yourself as a savvy investor, you’ll probably want to do some research to work out which suburbs and property types are most likely to increase the potential resale value of your home the fastest. If you’re only in the property for the short term and you’re planning to either sell in the near future or rent it out, you’ll need to carefully consider what buyers/renters are looking for so you can make the most from your investment. And of course, ensuring the property is in great structural condition and free from pests by having a Pest and Building Inspection before purchase will go a long way to protect the value of your investment for years to come.