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Is a neighbourhood more important than the property?

While marble bench-tops and stainless steel appliances may be the gold standard in real-estate finds, a property’s location should be among the highest considerations when evaluating a potential purchase. It’s important to note that the neighbourhood a property is situated in is just as, if not more, important than the property itself. This is because a property’s location can drastically affect the home’s value. With that said, property buyers should buy in a location which has a history of growth and performance.

In order to buy the property that will offer you the highest projected return on investment, you might have to sacrifice certain features, like size, to make it work. When considering which neighbourhood to go property shopping in, think of your potential tenants and their lifestyles. Great public schools and parks appeal to families, while young adults will be more interested in access to public transportation and shops. For more on the importance of neighbourhoods, head to Realestate.com.au to read more.

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