Discerning real estate buyers don’t just look for a specific number of bedrooms and bathrooms when buying a piece of real estate. They also look at the potential of the neighbourhood in terms of liveability and potential for financial gain in the future. In 2011, Melbourne Australia dethroned Vancouver (which had held top spot for several consecutive years) as the world’s most liveable city (according to the Economist). The list is determined based on 39 different factors. Shouldn’t you look at your potential new home based on many factors as well?
With four Australian cities (Melbourne, score: 97.5, Sydney, score: 96.1, Perth, score: 95.9, and Adelaide, score: 95.9) being listed in the top 10 list of World’s Most Liveable Cities, this could mean great things for Aussie real estate — provided you’re already in your home. Wait too long to buy your first home and it could cost you a whole lot more to get into the market.
Are you interested in buying a home in Australia? Your real estate agent could help you find the right home. Present your real estate wish list in terms of what you want the property to feature but look closer at neighbourhoods as well. Consider the crime rate, the unemployment rate, the long term prospects for growth, and the kind of lifestyle you want. Doing this will help you not only be happy with the home you buy but will also increase the chances of that home being worth more than the amount due on the mortgage in a few years. You want the ability to quickly sell if needed or wanted. You may even consider buying an investment property or two to use as rentals in a specific area because of the potential for growth and for diversifying your portfolio.
(photo: Stock Xchng – Timobalk