Whether looking for an investment or your next family home, there are some universal factors to consider when looking for a great property. Exactly which of these factors are most important will be determined by the buyer, but each of these factors offers critical perspective on a potential opportunity.
- A great local area
The first question is to always look at the surrounding neighbourhood. Are the streets well designed and regularly maintained? How close are transport hubs and local amenities?
- Current and future development in the area
Knowing what development is happening nearby can influence not only the long-term value of a property, but also can have an immediate impact on the liveability, with considerations such as noise and dirt.
- Natural light and orientation
Natural light is one of the most influential aspects of a home’s feel and presentation. Assess where natural light will be coming from at various times across the day, and the overall impact the light has on key rooms.
- A good, logical layout
The layout of a home is a very important factor, and should be considered with the furniture you would like to bring into the space. Considering factors such as doorways, power-points, windows and walkways can set one home apart from another very quickly.
- Required work and potential for renovation
Having a thorough analysis to see what renovations are required is critical, however it is also important to consider what renovation could be possible down the track. Does the home have a good underlying structure and layout? If there is a pool, does it meet mandatory requirements? What scope is there for future changes?
- Signs of damage or pests
Look at the condition of tiles and fixtures in the bathroom, kitchen and laundry, including cracks and corrosion. It is also important to consider dark corners and cornices in particular for any signs of cracks or visible water damage. In the laundry and kitchen, keep an eye out for evidence of pests with products such as inspect-spray or baits.
- Storage capacity
Is there adequate storage throughout the house? Is the current storage built-in or free-standing units? Is there enough room for large and built-in appliances such as a fridge, washing machine, dryer and dishwasher?
- History of the home
Ask questions about the history of the home. Has it been renovated at all? When was the property built? When was the last pest inspections or treatments, and are any building or pest reports available?
- Hidden information such as easements
If you are looking to knock down and rebuild, knowing the location of any ‘easements’ can significantly impact where it is feasible to build in the future. Easements are where utilities such as mains water or electricity infrastructure can freely pass under your property and can require access at any time. Failing to know the location of easements can result in costly adjustments down the track.
- “Wow factor”
Is there something special about the property that sets it apart from the rest? It may be a view, an architectural feature, a beautiful outdoor entertaining area, or a large kitchen.
Thorough research will pay off in the end by unearthing as many factors as possible. This information means that an objective and measured decision can be made about the purchase, and protect your investment by future-proofing the re-sale potential.
To discuss your property goals and the ways the Brady Marcs Buyers Advisory team can help, contact us today on 1800 28 77 77 or book a time for an obligation-free consultation.