Buying a property with siblings

3 Winning Strategies To Determine Whether You're Buying In The Right Suburb

29 July 2017 by Sean Simmmons

Buying a home in Australia comes with an expensive price tag. CoreLogic data reveals that the median dwelling price in cities like Sydney and Melbourne are $805,000 and $605,000 respectively. At these whopping amounts, you'll want to ensure that you're buying real estate in the right neighbourhoods. Follow these winning strategies to make the best decisions:

Hit The Suburban Streets On Weekends

Before making the decision to buy a property, you'll need to know whether the neighbourhood fits your needs. The best way to do is this to walk around the place to discover what it may feel like to live here. It's probably best to walk around on a weekend as most people are at work on weekdays, so you wouldn't get a true feel of your surroundings. This should give you a good idea of the neighbourhood and whether it fits your specific needs. For example, some neighbourhoods may seem deserted on weekdays as kids and parents are away at school and work, but you may notice plenty of kids playing in nearby parks and backyards on weekends. This is perfect for you if you're a young family with small kids.

Strike Up A Conversation With Existing Residents 

While you've probably researched the neighbourhood thoroughly on the Internet, it's not always easy to get the right picture because there can be contradicting information available to you online. There's nothing better than a first-hand account of living in the neighbourhood, so see whether you can strike up a conversation with existing residents. Ask them for a few moments of their time and tell them you're considering moving into the neighbourhood. Finding out a little bit about the lifestyle, safety and accessibility of the suburb from a local will help put your mind at ease before you sign a sales contract.  

Find Out Where Suburb Facilities Are Located

Depending on the stage of life you're in, certain facilities are more important to you than others. For example, if you have kids, you'll want to be close to chemists, schools, doctors and hospitals. If you're a senior, you may want to be near an entertainment club, grocer and hospital. If you're a working professional, you may want to be closer to restaurants and cafes. Knowing where everything is located will make you feel more comfortable with your decision to purchase a home in the neighbourhood.

These winning strategies will help you in your quest to determine whether a particular neighbourhood is right for you.

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