Decide on where to buy and do your research:
From the myriad factors that determine a property’s price potential, location – and specifically proximity to community services, and availability of facilities and infrastructure – seems to hold firm as the perennial key to future capital growth
Schools, shopping centres, public transport, parks and, increasingly, cafes and restaurants, are all desirable aspects of suburban living and favourable attributes to potential buyers.
From most buyers’ viewpoint, the really important features for the location of their home are that the neighbourhood is safe, close to schools, medical services and shops, and also close to their workplace or to reliable public transport.
The aesthetic characteristics of a suburb or street also rank high on most homebuyers’ list of desirable features.
When it comes to buying a home, location is always a pivotal issue but it can mean different things to different people.
Often the first issue of importance to homebuyers is familiarity. REIQ research shows that most people buy another home within only a few kilometres of where they currently live.
Also if children have been attending a particular school for years then the parents' choice of a home is often influenced by how close a suburb is to the school.
You may want to research property sales history and get information about median prices in specific areas. The REIQ publishes median sale prices for houses, units/townhouses and land by suburb, as well as in-depth commentary, in its Queensland Market Monitor publication.
Examine property agents’ offices, listing magazines, newspapers and property websites.
Also use the Internet. You'll be amazed by what you can find and what you’ll learn.
Some good sites to check out include:
- The Office of Fair Trading (www.fairtrading.qld.gov.au)
- The Queensland Government Department of Natural Resources and Water (www.nrw.qld.gov.au/property)
- The Building Services Authority (www.bsa.qld.gov.au)
- The Master Builders Association has made a Pre-Sale Inspection Booklet available to assist when purchasing a home. (www.qmba.com.au)
- The Housing Industry Association (www.hia.com.au)
- Archicentre (www.archicentre.com.au)
- Your local council's website
