Buying a new home is a major decision. It takes careful planning, research and budgeting. There’s a lot to think about and it can be nerve-wracking, but it is also an exciting time.
A new home is a lifetime investment that affects your quality of living and financial situation. Researching your new home and the surrounding area before purchase is vital, so that you well informed and aware of any issues before you settle in. Here are some tips that will help you get started if you are considering buying land for sale in or around Melbourne.
Search: Take advantage of all the available options to find homes on the market. Use your real estate agent, search for listings online and drive around neighbourhoods that you are interested in to find for-sale signs. It is also wise to ask your friends, family and business contacts for advice.
Insights: When you do find a location you like, do your own research to find out whether the suburb is ideal or not for you. Don’t just believe any hype you hear, as the attractions that suit others may not necessary suit you. Search online for insights such as median property prices, the impact of interest rates, the average number of people looking for property in the suburb and the number of properties or land for sale in Melbourne. Search for supply/demand ratios and trends over time to get a better picture of a location and its potential. Also find out if there are any industrial or commercial developments taking place nearby that may affect your quality of life, comfort at home or impact your property value. You can find out information regarding immediate future developments in the area from local councils.
Fieldwork: When looking for property, make sure you check out the things that will matter to you. Access to major roads, public transport, shopping or entertainment hubs, good schools, cultural diversity – figure out what is important to you, and see if your target suburb delivers what you need. It’s always best to do some fieldwork to make sure that the suburb is suitable for you, as nothing beats firsthand experience. Spend the afternoon there – take a walk through the area, grab a meal or a coffee and see for yourself if the distances and atmosphere lives up to your expectations. Also talk to locals to get an idea about what it is like to live in the suburb, and where the best areas are.
If you’re interested in purchasing land for sale in Melbourne, visit King’s Leigh – prime residential development land in Werribee, West Melbourne.