Investment Tips: How do you choose a good suburb for property?

By the resi financial blog team, 08 May 2014

How to choose the right suburb to buy a house in

Everyone knows that one of the main backbones of selecting profitable investment property comes down to the location of the home. This is an important factor to consider, especially if you're a first-time investor venturing out into the real estate market without prior experience. 

When it comes to selecting a decent location for your first investment property, there are a number of things to consider. Speaking with an property buyer, for example, could be a great way to gain some professional insight into the local market of the region you're interested in. 

Look into future development of the suburb

Good amenities like public transport, shopping centres and recreational areas are some of the biggest draw cards for people interested in rental properties. Having these things in close proximity is fantastic for helping people cut down on their travel time while offering large degrees of convenience in the future. 

Along the same train of thought, looking into future developments could be a great way to future​-proof your property. If the suburb is expecting to see a number of decent developments in the coming months, these could work towards attracting more people to the region over the next few years. 

Location of schooling facilities

One of the most important amenities to consider is schools within the local area. Purchasing property relatively close to local schools will help open your potential tenant market up to parents and families. Failing this, proximity to local bus stops or train stations can provide children with a way to get to school - making your home a potential option for busy families. 

This also appeals to newlyweds or young couples expecting children in the future.

Get a suburb report to understand current rates

Find out the approximate value of an area that you're interested in before you buy. There are plenty of reports that will provide you the value of a postcode. Most reports, like RP Data for example, will provide you with recent trends in the area to give you an idea about whether the suburb is hot or not. 

You can get an RP Data suburb report for free to find out the values in an area that you are considering investing in by clicking the button below.

Categories: Property Investment