Your Property Search Check List

When buying a home it’s important that it meets your immediate needs as well as future needs in terms of location and type of home.

For instance, you may be keen to live close to your work though if you are planning to start a family further down the track it may pay to consider the availability of childcare or schools in your chosen area or look for a property with adequate bedrooms and family living areas.

It’s also worth thinking about the likely capital growth of your home as this can impact your ability to upgrade at a later date. Factors like local population growth, or plans for improved transport links or employment hubs can underpin rising property values in a particular suburb.

Drafting a checklist of features you need or want can help you narrow down your property search.

Here are some things worth including on your checklist:

 

Property checklist – what to consider/what to avoid

Yes

No

Location
Do you want to be close to work?
Is reliable public transport available?
Are new homes being constructed/old homes being renovated?
Which local amenities are important to you?

  • Low or zero growth suburbs
  • Shops
  • Parks, sporting grounds and other outdoor leisure facilities
  • Hospitals/medical centres
  • Cafés/restaurants
  • Childcare/preschools/schools
Are friends and family close by?
Property
Would you prefer a house?
Are you interested in an apartment or townhouse?
Is off-street parking available?
Are you prepared to renovate?
Would you consider a two storey home?
Is a modern kitchen important?
Do you want an en-suite bathroom?
Do you want a separate laundry?
How many bedrooms do you want?

  • Low or zero growth suburbs
  • Two
  • Three
  • Four
Do you want a large block or garden?
Would you like a swimming pool?
Would you prefer views?

This checklist is a guide only – you can add to it, or create your own list. The important thing is to be quite clear on what you need as well as want from your first home.

It pays to be flexible about the features you want (as opposed to need), though it can pay to bear in mind the well-tested real estate maxim about buying the ‘worst house in the best street’. After all, you may be able to renovate and improve your home but the location is something you cannot change.

Homework is essential

Buying your first home is a major step and undertaking some research before you start visiting Open Home inspections is essential. Check out recent home sale prices and auction results in your preferred areas. Look at market trends and suburb statistics that can indicate the recent price appreciation being recorded in your preferred suburb.