Choosing Your Home
Whether buying a home to live in or as an investment, you need to approach the process in a methodical manner. Make a list of your requirements – the things that the home must
have to suit your needs. It is tempting to become attached to a house that looks good, but doesn’t have what you want. Here is a checklist of things you may want to consider:
Perhaps the most important of all aspects and the one attribute that has the greatest influence on the potential capital growth of your investment. Do you want to be close to schools, family, parks, shops, public transport? Do you want to be on a main road or side street? All these have an impact on the value of a property, and so sometimes it is necessary to compromise, but be sure to prioritise your needs, and stick to your guns. Even a beautiful house with all the latest mod cons will not make up for the fact that it is 5 kilometres from a train station, if that is a priority. The suburb or area you choose to look in will also be dictated by your budget, but once you have made your decision, try to draw a boundary around the area you prefer and only look at properties in that area. This will save you time and effort when house hunting.
TYPES OF PROPERTY
Everyone’s needs are different. Families need space and are usually looking for homes with land in suburban areas. Couples, singles and empty-nesters may be interested in inner city townhouse or apartment living that reduces maintenance and offers closer proximity to work or city venues. Again, it is important to decide on which property type suits your needs and budget for as long as possible. Investors may look to see which types of properties have resulted in the best long-term gains. Things like number of bedrooms, bathrooms and state of renovation are also important factors, as is land size. If you intend to work from home, a studio or extra bedroom will be necessary.
This is not always the most important factor, but it does have an influence on how light your house is and how much sun your outdoor living area will receive. Everyone has different tastes, but the most sought-after orientation is usually a north-west facing rear garden or living area – This orientation maximises sun in the afternoon and if the bedroom/s are at the front of the house, will help keep these areas cooler during the summer months.