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Looking for the perfect suburb to settle down in? Here’s how you do it.

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You want to buy a house. Great! You want to buy in an area that ‘suits you’. Alright, let’s do this! You want to buy a home with all the bells and whistles to accommodate your lifestyle while staying within your budget? OK, while it’s not impossible to do this, there are a few things we need to zero in on before we hit the house jackpot.


Work within your budget

Without a doubt, your budget will dictate what you can afford. While many buyers – especially first home buyers have their hearts set on settling down in a particular area, your budget may not accommodate the price tags of the houses in that vicinity.

So what’s a buyer to do? Give up on their dream and begrudgingly settle on a home at the opposite end of the spectrum? No Siree.

Take a look at house prices in neighbouring suburbs or those on the verge of areas that have experienced price hikes in recent years. Check out future planning to see what infrastructure is being introduced to the area, and weigh up whether these improvements to the district will benefit your lifestyle and wallet in the years to come.


Age and lifestyle

The stage of life you’re at will also play a determining factor in where you choose to settle down.

Young families will likely be searching for a property near to parks, playgrounds, schools, shopping centres and sporting fields.

Singles on the other hand may be looking to live near other singles, close to public transport, food and beverage venues, and entertainment precincts.

Empty nesters typically hope to downsize in quiet areas near to people who share similar values and interests.

To find the perfect suburb for you, take your time researching local demographics and census data to learn a little about the people that live in your desired area, including age, profession and family status. This will help to guide you in finding the perfect property and town for you.


Ask a local

You’ve just seen your dream home pop up on the market in a suburb you frequent for coffee catch-ups, but besides that cosy corner café, you really don’t know much about the area.

The quickest way to retrieve raw information about the suburb you’re considering buying a property in is to go directly to the source – and in this case, I mean speak to the locals.

Whether you’re buying from a boutique retailer or making small talk with a cashier at the supermarket, there is no harm in asking questions to gain a better understanding of the way the town works, what will be of benefit to you, and what to look out for. More often than not, locals are friendly and happy to assist – especially if they love their suburb.


Length of stay

If you’re a first-home buyer just starting out on your home-buying journey, you’re probably thinking of staying in your brand-spankin’ new home long term. So let’s say 20 years. Now, that’s all well and good if you’ve found a suburb that has all the amenities you’ll need during that time – but what if it doesn’t?

Sometimes, buyers outgrow their properties – and that’s ok. But the key is to buy a home that suits your needs within an area that meets your needs – and that can be the tricky part.

Deciding how long you’re willing to stay until you’re ready to up and move again is important. A young couple with no plans to start a family within the next 5 years may be happy to settle into a 2-bed apartment close to the city short term, whereas a couple planning to start a family are more likely to settle into a 3-bedroom home for the long term in a suburb with all the amenities – that is also pram friendly.

I hope these tips help guide you on your way to finding the perfect suburb to suit your needs, because at the end of the day, I want to see you in your dream home and in an area that suits you to a tee.

Want to buy your next property within your SMSF? Click here for more info on how we may assist you.

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