If you are buying a property to live in, the factors affecting suburb choice are markedly different from those involved in deciding on an investment location. Some of the key factors in choosing a location for your home include:
- Your local knowledge – are you already familiar with the area? Do you know people who already live there?
- Availability of transport to work – good roads or train/bus links.
- Proximity to good schools – particularly if you are relying on the public education system.
- Lifestyle – what is close by for you to enjoy during your leisure time?
- Affordability – the bottom line…
When advising investors, we encourage them to consider the following:
- Buy as close to the CBD as you can afford – you can usually rely on consistent demand from tenants.
- Good transport links – especially train or light rail
- Walking distance from cafes and shops – tenants need reasons to live there other than just being close to work.
Published:- 21 July 2009
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.