All pubs are not the same. In the ‘burbs you have enormous institutions with multiple bars, live venues, restaurants and even kids playgrounds. Many of these suburbs only have one pub and it is generally located well away from residential areas.
In the inner city, however, the working class origins have resulted in many small drinking establishments in each suburb, each with their own flavor and often located on the corner of a residential street. So buying close to a pub is harder to avoid.
Some of the questions you should ask are:
- What are its current trading hours?
- Does it have an entertainment license?
- Does it have a beer garden or other outdoor area?
- What sort of clientele does it attract?
- How many pubs are in the area?
- How large is it?
- Would you eat or drink there?
If the pub has restricted trading hours, no outdoor area and no entertainment license, it may prove to have little impact on the neighbouring properties and a negligible effect on resale value. But if it has a reputation for rowdy crowds and, even worse, violence, then steer clear!
In an ideal world you wouldn’t buy too close to a pub and I’d strongly suggest that you don’t buy next door to one. But if your budget is limited (as it so often is) and the perfect property happens to have an imperfect location, then it is imperative that you carefully assess the potential impact on your lifestyle. And if the impact doesn’t seem too great, it may turn out that this is the compromise you need to make in order get your dream home in your preferred suburb. Plus you may just make it your local!
Published:- 4 March, 2011
Please note: Good Deeds buyers tips are intended to be of a general nature. Please contact us for advice that is specific to your individual circumstances. You may also need to get advice from other professionals such as an accountant, mortgage broker, financial planner or solicitor.