Investing time to research will create profits later I have a colleague who is looking at buying a property in Queanbeyan, he’s quite young at age 22 and is really enjoying looking around at the moment to live in what he will buy, I see how he’s visualising his life and once once the change commences into his new place I can see his excitement, though, every time the financial decision is mentioned it’s tempting to jump into a property that no matter how good the property is you’ll always find another one that’s just a little bit nicer, Jerrabomberra.
So the more time we are researching all the properties that we are considering the more we are able to gain financially further down the track.
Certainly the most expensive thing that you ever buy is not something to get your emotional over and I would say it’s very hard not getting in emotional if you’re going to live in it and you’ve got a family and kids and everyone’s to choose a room to live in.
Researching suburbs, such as Googong is very important, from past experience the more properties one person can see the better idea one shall have, what is good value and what is overpriced it’s doing the leg work because if you speak to real estate agents then you’ll build your knowledge if if you build your knowledge you’ll buyer educated and you can also build rapport with agents and let them know that you want to be kept in the loop, and that you are a serious buyer.
If you’re looking for a house to live in or as an investment the same rules should apply nevertheless, the rules you’ve got to pick what’s right for you and then maybe some things to consider that are more important that may be different from what most people want so if living near the bush or working from home or being close to transport may be less necessary it all depends on your lifestyle and what you were doing at that point, the same applies for the proximity to schools if this something that is important if you have kids and you were apparent all of these factors then include constantly changing elements as the family and the suburb change.
Let’s consider the suburb that you were you thinking, Karabar, how is it going to shape up in the future if we go to the local council and find out about all the proposed development plans for residential and commercial buildings and find out who is buying the area via the Australian Bureau of Statistics will give us a complete demographic breakdown this all list the average income per household age language spoken and all sorts of relevant data of the people that will be in the suburb, a number of real estate websites will also provide such suburb profiles.
One the range from the from the information you’ve got look at the whole range of properties see if you can recognise any extremes so you know what to look for and also after viewing this you’ll see the reasonable risk look at his much data as possible and look at what really drives the long-term market.
Do not rush, I can suggest to anyone going into residential do it for a medium to long-term a lot of people could be speculating about properties but it’s not a speculated market it’s a market that can get you in and out quickly.
So generation extra example has a different quota to Generation Y who is the driving market what sort of property will they increasingly want to bite or look at let’s consider the changes and the preferences and what that means smaller households smaller backyards people want to live closer to the park or the bush or the city.
After some research it is advised to research websites and other sources to get background information on pricing and living statistics and the future development of that suburb have a look at a map and highlight the schools transport parks officers water areas shopping facilities Banks etc these could impact the price that you pay or will be paying.