RES Articles

Location is really important; however budget probably supersedes even location. One of the main reasons that location is so important is that it safeguards your re-sale price into the future. If the market ever struggles, it’s the well located houses that stay popular amongst buyers. Now having said how important location is, I often advise clients that they need to think of their lifestyle. For example, do they need to be walking distance from a train line if they only use trains to get to the footy every couple of weeks during the season? Is it more important to be a short stroll from the kid’s schools? After all they go to school 5 days a week most of the year. Is it important to be close to your place of work? I’ve never really understood people that work an hour from their home. I know sometimes it can’t be helped but that is a 2 hour turnaround on every day that you work. (2 hours a day, 5 days a week over 48 weeks a year adds up to 480 hours a year in transit)

 

It is important to think about how you live. Do you like to frequent parks or kids sporting events? Or are you more of a nightlife family that values proximately to restaurants, shopping, event venues and pubs?

My main advice is to think about the things that you do on a weekly basis and consider that when selecting a location. Also remember the old adage of “the worst house in the best street” doesn’t really stack up now. With soaring building costs, you might find that a good house in a suitable position suits your budget better.

 

Another x-factor is whether it is important to you to be close to family and friends. It’s hard to put a price on that. In summary location is one of 3 important things when buying a house, along with the house’s accommodation suitability and of course budget.