Picking the right suburb for your investment, can be the difference between thousands of dollars in profit. Check out our Top 10 Suburb Features to look out for when you’re investing in property.
1). Character Suburbs
Big Trees, wide streets. Heritage neighbourhood and Period architecture. Real Estate “character” suburbs usually increases in value more rapidly than the newer “clinical” suburbs that are developed, often in outer rim locations.
These locations offer something different and unique to the traditional ‘4 walls & a roof’.
2). Close to Public Transport
Public transport is essential for both locals and investors alike. Public Transport is also one of the first indicators of population growth in an area, so it’s essential that your suburb has easy access to the bus, train and other form of transport. Especially in this COVID climate, where we see more and more flexible work from home arrangements.
3). Close to quality sort after Schools
The better the school, the higher the demand.
Real estate prices are driven by the excellent education you can get in an area. This is why Real Estate agents emphasise this when listing a property for sale or rent. In addition to the demand of quality schools driving up residential real estate prices, it also illustrates increased population growth as more families move into an area where the good schools are located.
4). Low Crime Rate
Real estate prices are often driven by the crime rate. If a suburb has a high crime rate, then investors and homebuyers will be less likely to invest in that area. Since Real Estate is all about location, it’s important you pick one where your tenants can feel safe.
5). Close Proximity to the CBD
Real Estate prices often climb the highest if they are located within a 10 km radius of the CBD. Real Estate agents keep this in mind when listing a property for rent or sale. This is why Real Estate agents focus on the proximity to the CBD, as they know it’s one of the biggest factors that will increase property prices.
6). Community Features & Amenities
Proximity to community features such as quality coffee shops, bars, shopping centers will help drive the demand of the neighbourhood. Keep an eye on the activity of new and exciting options opening in that area. “The Buzz” or “Hype” for an area will attract new money, new buyers and is a great indication for future population growth.
7). Proximity To Major Infrastructure
It’s important to be close to, but not “next” to, transport hubs, key freeways/motorways, major medical facilities, and hospitals.
Keep a look out for areas on the brink of gentrification, or at least those in the process of improving their infrastructure. Getting the balance and timing right is key, so spend some time in the area and do your research. Don’t be afraid to invest in a good street location with the knowledge that some simple, low-key renovations strategies could amplify the properties value.
9) Public Parks, Pools & Play Areas
Let’s face it, the allotments are getting smaller and smaller, and providing good facilities for the kids to run a muck can be a godsend on the weekend. This is quite a heavily sort after feature when buyers come through the open homes, so investigate just how close these facilities are to the investment.
10) The “IT” Suburbs.
Activity builds activity.
You often see plenty of splitter lots, renovations, investments, and developers taking an interest in a suburb if the suburb is now talked about around town. Find the bargain in this location. Worse house, best street type situation, and you’ll always be onto a winner.