No matter where you’re living, it’s always good to have local amenities within shouting distance. This includes shops, recreational areas, parks and public transport. A suburb that has the basics at an arm’s reach will make for easier living and better potential for value growth in the long run.
Being in the zone of a good school is beneficial not only if you have children, but it can also help ensure property growth as the area may be sought after by other families. After all, the ABS asserts that there are around 3.7 million kids aged from 5 to 17 currently enrolled at school.
The Australian Securities and Investments Commission stresses the importance of being aware of any proposed developments, as these could greatly affect property prices and your quality of living in the area.
The suburb may be slightly lack-lustre now, but if there are plans for new parks, supermarkets or urban hubs, you could be uncovering a gem that will grow in the future.
When it comes down to the ‘living part’, the best way to determine whether the area will suit your requirements is to actually spend some time there.
You should make a day of it and visit the various attractions, attend some community events and talk to the locals to get a sense of the vibe. Don’t rush off to your mortgage broker just yet though, because it’s a good idea to see what the area is like at night time – it could be a significantly different suburb when the sun goes down!