Suburb features that add thousands to your property value
Four things your neighbourhood needs if you want to add value to your property.
Every home buyer has different priorities — you may prefer the countryside to the city, cheek-by-jowl apartment living over roomy suburban family homes — but there are some universal location pros and cons.
Proximity to transport, good schools, parks and beaches, as well as good cafes and local shops, are a few key wishlist items most buyers look for to create a home for now, and also to sell confidently in the future, says Jenny Dwyer, Director of Hocking Stuart Sandringham.
“When people are looking for a home, part of that is also their future wealth being tied up with wherever they are choosing to live. That’s where choosing the right location in a growing city like Melbourne is becoming very, very important,” she says.
Buyers’ advocate Nicole Jacobs, author of SOLD: How to Buy and Sell Your Home With Real Confidence, and a regular on TV renovation show The Block, advises potential buyers to do due diligence on the particulars of the home’s precise location. Her firm uses Landchecker, an online service that offers access to a wealth of information on any individual address, including zoning, boundaries, high-resolution aerial imagery and planning permits and caveats, as well as price history.
“It is one of those due diligence tools that is a must for me when I am looking at property for clients,” she explains. “Everyone should be aiming to get as much information about a property before they buy — don’t take the word of someone else.”
We asked Nicole and Jenny for their expert tips on what to look for and what to avoid when choosing a place to live.