What do homebuyers think about the most when they choose a suburb to live in?
The first thing that jumps to mind is how much property costs in the suburb, and a new survey of 1000 people from Finder.com.au confirms just that, around half of all Australians cite cost as the number one factor when choosing a suburb to buy in.
Interestingly, the most important reasons for choosing a suburb differed from state to state. In New South Wales for example, where transport can be difficult, time consuming and expensive, respondents were found to have a bigger preference to living nearby their workplace than other states. It ranked third there compared to sixth or seventh in the other states.
In Victoria and South Australia, people surveyed had living close to their families as the third most important factor when choosing which suburb to buy in. It’s well and truly open to interpretation the reasons that might be.
Michelle Hutchison from Finder.com.au gave some of her tips on buying in the suburb of your choice when she spoke to Domain.
“Pick a location with valuable features such as a high rental potential, low crime rate, and close to schools, recreation and shops. The more a suburb has to offer, the more likely it is to be able to resell in future regardless of market conditions,” she said.
“Compare what you want in a house, what you’re willing to sacrifice in location and property, and then make a weighted choice from the two,” she said.
Buyer agency House Search Australia’s Jacque Parker said after cost, the main consideration when people were choosing their suburb was lifestyle, and many buyers were willing to sacrifice a room to get it.
“They want a quiet street and the majority want a pleasant streetscape and a neighbourhood with a community feel,” Ms Parker told Domain.
“We have had people that will lose a bedroom to get into the right street, particularly if a school catchment is involved.”
“People who can’t afford to live in one suburb look to the next along, but they’ll do many things to get into the right area, including downsizing, losing bedrooms and even bringing a boarder into one of the rooms to afford it.”
The top 10 reasons for choosing a suburb to live
|Peace and quiet||38%|
|Proximity to family and friends||24%|
|Close to shops||21%|
|Close to work||20%|
|Close to school||18%|
|Close to a train station||14%|
|Proximity to CBD||13%|
|Close to hospital/medical services||13%|
|Access to parks and recreation||10%|
|Close to beach||10%|
|Access to bus routes||9%|
|Good local restaurants and cafes||7%|
|Local entertainment (bars, music, etc.)||2%|
|Close to airport||1%|