Choosing the right suburb for investment
“Location, location, location” is an old real estate saying and with good reason.
Choosing where you buy is an important factor that many people overlook when doing their homework, which can lead to paying too much or missing a bargain.
Selecting the right suburb is all about growth potential and you can stack the odds in your favour by investing in an area where the whole property market is set to increase.
So, how do you know where to look?
Firstly, buyers need to identify the suburbs they are interested in and that fit their budget for the type of property they want.
Once they’ve got a list of suburbs, they can begin to assess the each area for potential growth indicators.
Try the following:
- Look for proven growth:
Identify the suburbs where there is a long history of buyer demand. When people consistently want to live in an area, it drives prices up over time. Good schools, parks, sports facilities, medical facilities and lifestyle factors are popular drawcards for buyers.
- Proximity to the city:
Take a map of the city and draw a 10km radius around the city centre. If there are no suburbs that fit within your budget follow the same process up to a 20km radius. There will always be demand for central locations, close to employment, transport, shopping and entertainment.
- Proximity to water:
Draw a line parallel to the coastline 5km from the ocean or 5km either side of a river. The area must also have good transport to the city and not be more than 20km away from the city centre.
- Potential growth:
With this approach buyers need to add in any suburbs where they know there are strong factors that will make the suburb very attractive in the future, such as a new major development, improved transportation or if the local council is planning additional zonings for higher density.
Professional advice should always be taken into consideration.
Property Wizards believes everyone has the right to the knowledge to help you accumulate wealth, no matter your background, education or income.
They can help you unlock the potential of the real estate market for your family through savvy property selection, negotiation on price and conditions, development expertise and the magic of compound interest.
Regardless of market conditions, their research, local knowledge, and access to silent sales means they find the ‘hidden gems’ that can outperform the market in capital growth and rental returns. Importantly, they’re able to provide property investors and homebuyers with the same level of representation that property sellers have benefited from for years.
Your property portfolio is your path to financial freedom and the lifestyle you’ve been longing for.
Property Wizards takes away the stress of buying a property and saves you money at the same time. They can show you how, or you can sit back and let them do all the hard work for you. It really depends on the amount of time you’d like to put in.
If you’d like to explore your opportunity to help build your wealth through property, then call us on (08) 9381-7450. Or request a FREE Starter Pack at www.propertywizards.com.au/