Understanding what attributes are known to increase the attractiveness of a suburb can help you as a buyer to make a savvy decision on which property to buy – whether to live in yourself or as an investment property. Picking the right area can mean the difference between an eventual return on your investment, or not.
Apart from some attractiveness features such as a sea view – there are some items that are common across all “best suburbs” coast to coast, and it is worthwhile to consider whether the area in which you are considering buying a home has a preponderance of these features.
Location – look for an area that is a candidate for the “ripple effect”. The ripple effect describes the scenario when a suburb experiences high demand and high growth in house prices, which puts it out of reach for home buyers, who then look for similar infrastructure, amenities and/or “look and feel” in adjacent areas – which then become the next demand/growth suburbs.
Location is also critical as far as other aspects are concerned – close to schools, shops, transport and recreational facilities is your target, as well as employment opportunities. Being within walking distance of some if not all of these will add significantly to the value of the area.
The quality of nearby schools is also important – areas with nearby high-performing schools will be an additional factor influencing the popularity of an area.
Look for nearby medical facilities such as hospitals, clinics and General Practitioners as well as access to good quality and well maintained sporting and recreational areas such as walking trails and parks.
Regardless of the location, whether it be at the coast or in the city – a good view will enhance the desirability factor of the area. If the area has a nearby river, dam or ocean – so much the better. Street appeal counts here too – tree-lined streets, well maintained gardens and sidewalks will enhance the “look and feel” of the area.
The area should have a mix of housing types and styles – to add interest and character.
