“When you are buying a new home, you are not just purchasing a house but investing in a suburb.”
If selected correctly, with research and understanding, a suburb can make you hundreds of thousands of dollars over the years. If not, it could cost you more money when looking to sell.
You might not be interested in an investment property or making money from real estate. Admittedly, there are different seasons of life demanding different suburban characteristics. For instance, singles might want to be closer to the cities and not care too much about school proximity, where young families may desire to be closer to schools and require quality public transport to ensure travel. Interestingly enough though, the suburbs presenting higher property value are also those that possess the most desirable characteristics.
Location. We hear this word location, proclaimed throughout the real estate industry, [Location, location, location], though without any clear definition or reason behind the proclamation. I think we all understand that we need to find the right location. Despite how great the house is, the exact same house can be worth exponentially more in the right location. So, let’s have a look at what it takes to makes the “right location”.
1 – EMPLOYMENT
Employment opportunity is a key factor in property value growth of a suburb. The more opportunities, the more a suburb can grow, thus, the more potential the property value has to grow.
2 – SCHOOLING
Another key player in the suburb priority list is schooling facilities. Those locations with higher education dominating schools provide increasing value to its surrounding suburbs.
3 – RECREATION
Recreation is any form or leisurely activity from shopping to sporting games, which are offered in a suburb. The ability to participate in recreation activities within a suburb increases its appeal and value.
4 – POPULATION GROWTH
The more desirable a suburb becomes the more the population grows and as the population grows so does the property value.
5 – TRANSPORT
Both reliable and easily accessible public transport and well-preserved roads, generate countless appeal to a suburb. With these types of transport, a suburb property value can increase drastically.
6 – MEDICAL FACILITIES
Medical facilities are one of the most positive influences, increasing property value with all suburbs in proximity. The economic impact is vast.
7- ECONOMIC STABILITY
Finding a suburb with economic stability is a prime factor in the health of the property value within that suburb.
If you are looking to buy, sell, renovate, invest or even just looking for some advice feel free to give me a call 0449 144 544 .