Always do your research

Depending on the motivation for buying – upsizing, downsizing, or purchasing an investment property – it is important you spend a considerable amount of time researching the area you are considering purchasing in.

1. Visit The Street & Suburb At Various Times of The Day

The real estate agent will often arrange to have the property open for inspection at times to best showcase that property, as a savvy buyer you want to see the home in all of its aspects. Consider things like… What the traffic conditions are like at peak hour.

2. Take Particular Notice of Neighboring Properties

Park the car around the corner and take a walk around the block. Note the general appearance of neighboring properties, do people take pride in their homes or are there old cars on front lawns and neglected properties.

3. Speak to The Neighbors

Ask general questions about the area, how long have they lived there for? If there is anything they could change about the street what would that be? Mention that you are considering purchasing nearby; people will usually be brutally honest about any neighborhood dilemmas.

4. Use The Internet

There are a number of websites that will provide you with free market information and reports on the suburb your researching. In addition to this, ask your real estate agent for a suburb report including median price changes over the past 10 years (don’t be afraid to ask for suburb reports from multiple agents). The Australian Bureau of Statistics also offers valuable information on all residential suburbs in Australia.

5. Attend Open Inspections In The Immediate Area

Even if there are properties you’re not interested in or are out of your spending capacity, it’s a great way to gauge buyer interest in the suburb (are there a many people at the inspection?) this strategy also provides you with the opportunity to speak to other local real estate agents about their opinions on which suburbs offer great value