Anatomy of a Good Location - ParkTrent

The Anatomy of a Good Location

Category: Buy

Location, location, location – it’s the unofficial catchy cry of real estate agents around the world. As much as it may be a tired cliché, location is crucial when it comes to buying property. But what exactly is the recipe for finding the right area to buy in? Well we’ve come up with the five fail-safe things to look for in a good location.

  1. Neighbourhood/Surrounds

Perhaps the most important thing to decide on when you’re on the hunt for a new property is the kind of neighbourhood you’ll feel comfortable in. You want an area that most closely mirrors your lifestyle and personality. If you’re a young professional who works in the city, a suburban two bedroom house may not tick the boxes.

Alternately, if you’ve got a family and are looking to settle down, an inner-city terrace might not be the right fit. Once you’ve found the neighbourhood you like, it’s worth visiting the surrounding suburbs. This can be a good snapshot of what to expect from the wider area as a whole.

  1. Lifestyle Attractions

Considering how much time we spend at home, you want your next location to have the kind of attractions that add a little personality to your area. If you’re a suburban-dweller who loves the great outdoors, then look for big parks, local sporting ovals, walking trails or natural creeks. Access to a large cache of cultural activities is also highly recommended – where are the nearest cafes, art galleries, cinemas and shopping villages? These are the added bonuses that will keep you happy as a buyer or attract renters if you plan on using the property as an investment tool.

  1. Proximity to Amenities- Schools, Shops…etc

Proximity to important amenities is one of the key factors in a good location.

If you’ve got a young family – or are thinking about having one in the future – the distance to local schools will be paramount. It’s also worth noting how close your chosen suburb is to essentials like supermarkets, department stores, hospitals and a GP. It may sound dry, but a suburb that has all these things close at hand is a blessing.

  1. Transport

Anyone who has been stuck in bumper-to-bumper traffic on the way to work knows how important transport is when settling on a location. If driving will be your main form of transportation – to work, school, social activities – is there easy access to major roads and freeways? The easier it is to travel to major business districts, the more time you’ll get at home to enjoy your life! Meanwhile, if commuting is the plan, how long are you prepared to sit on the bus or train? And what is the local access like – are there bus stops and train stations in walking distance. Researching the transport options will save you a lifetime of headaches once you’re in your new home.

  1. Day and Night, Hot and Cold, Wet and Dry

To get a truly accurate feel for a location you really have to put the hard yards when it comes to research. You might visit an area during the day and find it charming and peaceful. You can then return to the same place in the evening and be shown a totally different side of the suburb. Similarly, things you may have missed at night may become more prevalent during the day – busy streets, narrow roads, loud businesses. Finally, if you can manage it, try to experience the area in all weather conditions – rain, hail and shine. This way you’ll get a real sense of how the area responds to these conditions.

If you’re interested in investing and buying a property, you might like the following articles:

Rookie Mistakes from First Home Buyers

The Hidden Costs of Buying a Home

Buying a Home vs Buying an Investment Property