The best suburbs in Sydney for property investment
Full House Finances
Property Investment, Mortgage Broker, Financial Planner
Everyone knows there are a lot of things to consider when looking at buying a new home… the most obvious being the financial situation of the purchaser, and the suitability of the property for their unique needs. But one aspect that's often overlooked is the area the property is in… How do you know if you’re looking at the best suburbs in Sydney?
It’s all very well finding the perfect home for you, your family, or your potential tenants… but can you live with the neighbours? Does anyone want to rent it? Is it close to schools, shops, and transport? Does it need to be?
Too many people buy property because they’ve fallen in love with the kitchen, the backyard, or the off-street parking and study nook. But I think the postcode needs to be a top consideration in the final decision. Otherwise you could be living in your very own episode of Hell’s Kitchen before you’ve even unpacked the cutlery.
When deciding on the best suburbs in Sydney to live in, it’s a good idea to also think about your lifestyle needs and future family preferences. For example, Bronte is a pretty eastern suburbs enclave that’s close to the beach without being a heavy tourist hot spot. Locals enjoy living in a relaxed atmosphere that is still close to transport and shops.
Suburbs like Coogee and Clovelly have the same advantages and are within close proximity to the city and airport whilst retaining that delightfully relaxed beach feeling. You may also find larger homes here, which is better value for your money. Locals say the eastern suburbs have an excellent combination of family friendly environment and liveliness, which makes them among the best suburbs in Sydney to live in.
Alternatively you may consider a suburb like Balmain, located in Sydney’s inner west, it is best known for its community vibe, is close to the city, and locals enjoy a lively café culture. A similar suburb is Newtown, which, as well as being close to the city, is a real up-and-coming market with an affordable cool atmosphere.
For investment properties, inner west and eastern suburbs homes offer a good return due to their high demand and proximity to both major public transport routes and educational institutions like universities and tafes.
Whatever mix of lifestyle, community, affordability and practical considerations you might need, it pays to think about the suburb you’re buying into before looking at the bathroom finishes or final price tag. Finding a property in one of your own ‘best suburbs’ in Sydney could make all the difference in your final destination on the property ladder.
Need help in finding the right suburb for you? Full House Finances can help, call us today (02) 9664 4115.
, Mortgage Broker
, Property Investment