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Location, Location! Tips When Buying A House

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    Approximately 40% of home loan applications were rejected in December 2018 based on a survey of 52,000 households completed by 'DigitalFinance Analytics DFA'. In 2017 to 2018 Hunter Galloway submitted 342 home loan applications and had 8 applications rejected, giving a 2.33% rejection rate.
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It’s all about location…

We’ll be the first to admit that when buying a house, it can sometimes feel like a balancing act. Between choosing the location, style of house, and cost – trying to get each element to work in unison can be hard work.

In some cases, you might find that established towns have houses with old designs but better facilities in surrounding areas, whereas, newer suburbs have younger families and houses with modern designs but are often less established or have the construction in progress. Think about North Lakes and Mango Hill, and how they started out as nothing and now have become hubs filled with shopping and lifestyle options.

In Brisbane, think about North Lakes and Mango Hill back when houses and estates were just being built there and how they started out with very little facilities surrounding. Yet now they have become hubs filled with shopping and lifestyle options, even Ikea!

Every suburb has its own pros and cons, but you have to choose a location that’s going to suit your lifestyle and what you’re looking for.

Keeping that in mind, given below are some of the things you should consider whenever looking for an ideal suburb to buy a home.


Consider the Location Where You Ideally Want to Live

Purchase a property in a suburb that is in line with your lifestyle and preferences. Of course, it should be affordable, but the location of the house also matters. For example, with the gradual shift in lifestyle, many prefer to live in a peaceful and quiet area with a low crime rate. In addition to that, those who have children often want to live in a location that has shops, good school, and other facilities. Therefore, figure out what location will be suitable for you based on your family structure or lifestyle.

From there, look at shouldering suburbs. For example in Brisbane you may want to live in Paddington, filled with a cafe culture and numerous boutiques, yet with that comes the price tag. Consider shouldering suburbs like Red Hill, Ashgrove, and Milton, where you’ll get similar locality and connection to public transport and facilities, yet with a much lower price tag.


Ensure Facilities are nearby

As mentioned earlier, most people want to buy a house in areas that are close to facilities, such as shops, schools, or parks. Whenever you plan to move house, consider proximity to public transport facilities. Ask yourself – does the property have public transport facilities within walking distance? If not, know where the nearest train stations and bus stops are and if this will be a selling point for those looking to rent.


Any Planned Developments in the Neighborhood?

The noise of construction activity can be very disturbing due to noise but also road closures. Therefore, when you’re looking to buy, make sure there is no planned development in that area. Contact the council to find out if new development projects for construction are underway.

When there is construction going on in the surrounding area, it eventually affects the price of a house. If the council visit confirms that there are any projects in the pipeline, think about whether you should reconsider your options or whether you can use this for bargaining power to renegotiate the price of your desired property.


Risk of Flooding

Every Aussie is aware of the fact that Australia is prone to harsh weather conditions like flooding. Check the local council’s flood map to see if your chosen area, and even better, chosen street, is at risk of flooding. Also, consult your friends or family members who live in the area as they can help you make an informed decision. Flood damage can be costly and you do not want to end up bearing the cost of it. Either try to find a house with a proper flood control system in place which reduces the impact of flood damage, or look for a place that is set in a high position with low flood risk.


Noise Level in the Neighbourhood

Another key aspect to keep in mind is the noise level in the neighbourhood. Property agents can trick you into believing that the house is located in a quiet suburb by setting up a meeting for house inspection during the quiet hours, when in fact, this may not be the case throughout the day. It is quite likely that the neighbourhood is quiet and calm in the morning but gets noisy in the evening.

Therefore, visit the area during the day and at night, even if there is no official inspection. By doing that, you will be able to see whether it actually has a calm and peaceful environment or not.

Chat to Hunter Galloway about how we can assist, call us on 1300 088 065 or email Nathan.Vecchio@HunterGalloway.com.au

Why Choose Hunter Galloway As Your Mortgage Broker?
Mortgage Broker of the Year
in 2017, 2018 and 2019
The highest rated and most reviewed
Mortgage Broker in Brisbane on Google
One of the lowest rejection rates

across Mortgage Brokers in Australia

Approximately 40% of home loan applications were rejected in December 2018 based on a survey of 52,000 households completed by 'DigitalFinance Analytics DFA'. In 2017 to 2018 Hunter Galloway submitted 342 home loan applications and had 8 applications rejected, giving a 2.33% rejection rate.
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