Step Two: Features
What are the key features you want or need your property to have?
A sensible property search starts with ideas about the house, not the dream house, so a short list of five to seven features will do.
- How many bedrooms you will need
- How many bathrooms you would like
- Your parking requirements – on street, a garage or car port
- Proximity to public transport
- Outdoor areas – will you need your own yard, garden or courtyard?
- Whether you want to renovate and add value or move in and enjoy straight away
- Lifestyle features such as parklands, beaches, cafes, nightlife etc
Remember that the more features you include in your list, the more limited you will be in your property search. So, prioritise your list, be prepared to make compromises and always consider comparable suburbs.
Don’t discount a comparable suburb.
Take a look at the comparison between the inner-western suburb of Balmain and the northern beaches suburb of Avalon. These are two vastly different areas of Sydney, but both have a village feel, are surrounded by water and have a great sense of community.
A purchaser whose first priority is 3-4 bedrooms in a village community may compromise Balmain (where they can afford a small apartment or terrace), for Avalon where they can secure a freestanding family home with a yard for the same money.
Conversely, someone whose first list item is a short commute to the city in a village community would likely compromise three bedrooms in Avalon for two in Balmain. The commute from Avalon to the CBD is at least an hour, from Balmain, only 20minutes.
With finance pre-approved and your features list confirmed, you’re ready to start house hunting.
With only two more steps left in the Buying Process, appoint an experienced property agent now to negotiate a better deal on your next home.