In this article we will discuss what you should consider when making your next real estate move. We will be focusing on location, and what you may wish to keep in mind when you are:
- looking at where to live
- making that investment
- buying a strategic building
- buying a piece of land that you plan to develop.
Picking the right location really can make quite a difference to the future capital gain and saleability of the lot you plan to develop or the property where you live.
Firstly let’s just start with the prospect of buying a home to live in. I have met many people over the years who have looked at property with me or spoken with me over the phone and the things we have always discussed is:
- what does your lifestyle entail?
- where do your friends live?
- and do you want to be near your family?
I think, in the first instance, if these are most important to you, start by finding a location close to these. From this you should then try and match this up with suitable infrastructure such as public transport, good connecting roads, places to shop and also social and recreational entertainment facilities, the reason being, you will enjoy the area more because you are close to your friends and family but also, because it is well connected, it will enable you to enjoy the amenity of the area and others also. Potential buyers will rate the area in demand and this will allow you to benefit from increased equity when, and if, you decide to sell. West Australians love the water, so areas close to the river or sea are well worth considering. City hubs like the CBD and the inner suburb rings of Perth along with developed satellite cities are also all worth consideration.
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Next is picking the right site where to develop your multi residential property project.
In the current market this can really be a very fine line. With competition in many areas this really needs to be given some serious thought and due diligence when choosing an appropriate site. We are seeing many buyers for these projects coming direct from the community they currently live in, they know the area very well so when they decide to downsize or buy their first or second home they really would like every box ticked when it comes to location. Best way to look at it is – what if you were seriously considering buying would you live in your own project?
Would you consider living there? Or would you look for something else that might have closer proximity to shops, cafes and bus stops, train stations and road and bike infrastructure?. If you wouldn’t why would anyone else? This is just one part of a successful campaign, but one to be adhered to, so make sure you are on the right side of the road or near the right shops and in the right neighbourhood.
Hope this information helps and all the very best out there.