How to pick an up-and-coming suburb to buy your first home
Often the coveted suburbs to buy a home are some of the priciest – which means buyers with a lower budget generally begin to look further afield to get on the property ladder.
Sometimes buyers luck out, purchasing a property in a less popular area where the median house price is relatively low.
Over time, suburb population grows and local businesses arise often driving demand for residential property.
We've mapped out a few of the key features to look for in a burgeoning suburb.
Planned infrastructure upgrades
Familiarise yourself with each local council's planning applications and pipeline of infrastructure upgrades.
Often when money is invested in a suburb, it adds to the desirability of the area. Note that timeframes provided are usually only indicative, are often subject to planning approvals and may be subject to delays.
Fringe suburbs of already popular neighbourhoods
Don't be afraid to extend your search radius. As populations grow, fringe suburbs are becoming more densely populated, and with more people comes more businesses, infrastructure upgrades and a thriving community.
Well-thought-out master-planned communities
The development of a master-planned community gives an area an instant population boost.
A thoughtfully designed masterplan will also deliver active open space, additional schooling, retail and dining and healthcare.
Many master-planned communities will also have extra space for businesses to operate from – meaning you can work close to home.
Decent public transport and motorway connections
Getting to and from the areas you spend most of your time socialising and working with ease is an important consideration when choosing a location to buy your first property.
Are you within close proximity to a reliable bus route?
Is there a park and ride near the train station, or is the train station within walking distance?
Is the property within easy access to a direct route motorway or freeway to the city?
If not, then check for any infrastructure upgrades planned for the area in future.
MIRVAC | FIRST HOME BUYER HUB
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Important note: The information in this article is general information only and has been prepared without taking into account your personal circumstances. While every care has been taken to ensure the accuracy of the information, Urban cannot be held liable for any inaccuracies, errors or omission.
The information in this article does not constitute legal, tax or financial advice and you should always seek professional advice before purchasing property in relation to your individual circumstances.
