When it comes to building a house, the location you choose can have a significant impact on costs. Real estate agents often emphasize the importance of location, and for good reason. Different areas have varying values based on a range of factors that can affect your needs and preferences.
When selecting a location to build your home, it's crucial to consider factors such as comfort, convenience, safety, and budget. These are the key elements that most people prioritize when choosing a place to live. As long as you find a location that meets these criteria and fits within your budget, you shouldn't have much trouble finding a good price when it's time to sell.
On the other hand, if you are building a property solely for investment purposes, it requires a more strategic approach. Factors like historical price fluctuations, rental demand, planned developments, suburb prestige, gentrification rate, and the overall state of the local market should be carefully considered.
Determining what makes a location "comfortable" can vary from person to person. It involves considering factors like convenience, safety, and lifestyle preferences. Understanding your specific needs and desires will help you identify the right location for your home.
Convenience is another crucial aspect to consider when choosing a location. Think about your daily life and the needs of your family. Factors like proximity to work, traffic patterns, desired schools, proximity to family and friends, access to hobbies or interests, and nearby amenities are all important considerations.
Assessing the safety of a neighbourhood can be challenging, but there are ways to get a sense of its character and potential issues. Crime statistics and demographic data can provide insights into the safety of an area. Websites like WalkScore can also help determine the overall convenience of a location by showing what amenities are within walking distance.
Keep in mind that crime statistics should be considered in relation to the population of the area to get a fair perspective. Additionally, for newly developed areas, these statistics may change as more people move in. Comparing with similar locations can provide a better understanding of the overall safety and convenience.
In summary, choosing the right location for your home involves considering factors such as comfort, convenience, safety, and budget. Whether you're building for personal use or investment purposes, understanding your needs and conducting thorough research will help you make an informed decision.
When considering safety, it's important to remember that there are other factors to consider besides potential threats from criminals. When selecting a location, it's also crucial to consider the likelihood of other safety concerns such as bushfires, flooding, high winds (or cyclones if you're in the northern regions), soil movement, termites and borers, as well as the presence of dangerous chemicals or salt in the soil.
While this may seem like a daunting list, it's usually not difficult to gather information about these potential issues. Many of them can be effectively managed with proper preparation and appropriate building techniques.
Moving on to the next step, selecting a plot of land, you can use the information from the previous factors to find a location that suits your family's needs and preferences. By doing so, you'll improve your chances of identifying areas or suburbs that are more suitable than others.
Once you have narrowed down the areas you are considering, you can then focus on choosing the best possible site to build on.
