Purchasing your first home is an exciting time - it’s a huge milestone, and accomplishing this goal likely means you’ve been carefully saving for quite some time. While you might be eager to get the process started, it’s important to take your time to find the right fit. The area you choose to live in can have a big impact on your quality of life, so use this guide to help you determine which suburbs are currently the best areas to move to.
Here are some factors you should keep in mind as you narrow down your choices for real estate in Bendigo and beyond:
Commute Times
One of the biggest factors you’ll want to consider when choosing a suburb is how long your commute will be, and if you buy a house and land package in Cairns, you can better estimate this time. If you’re working full-time, you likely don’t want to spend more than an hour commuting each day. Use Google Maps (or a similar tool) to estimate how long it would take you to get from each potential suburb to your workplace during rush hour - this will give you a good idea of which areas are realistically feasible for you.
Cost of Living
Of course, cost of living is another important factor to consider – especially if you’re on a tight budget. In addition to home prices, research things like average utility costs and property taxes in each suburb. Look at what the average person spends on groceries, transportation, and healthcare as well. This will give you a better overview of whether or not an area is truly affordable for you.
Quality of Schools
If you plan to start a family someday (or have started one already), then the quality of schools in a suburb should be high on your list of priorities. Fortunately, there are plenty of resources available online that can help you compare school districts.
Job Opportunities
Even if you already have a job lined up, it’s still a good idea to think about future job opportunities when choosing a place to live. After all, things could always change down the road and it’s always nice to have options available should something happen with your current job situation. If possible, try to pick an area with plenty of job openings in your field so that you know there will be options available should you ever need them.
Property Investing is Important
If you're thinking about investing in property, there are a few things you need to consider:
- Your financial goals: What are you hoping to achieve with your investment? Are you looking for capital growth or income?
- Your risk tolerance: Are you comfortable with a higher-risk investment, or do you prefer a more stable option?
- The property market: What is the current state of the property investing market in your chosen location? Are prices rising or falling?
- Your investment strategy: What type of property investment are you interested in? Are you planning to buy an investment property outright, or invest in a managed fund?
Ready to get started?
Moving into your first home is an exciting time – but it’s also a big decision that shouldn’t be taken lightly. The suburb you choose can have a major impact on your lifestyle and quality of life, so it’s important that you take the time to find an area that’s just right for you and your needs. Hopefully this guide has given you some things to think about as you begin searching for the perfect place to call home - good luck!
