Top tips for choosing the right suburb

29 Feb 2016

| Home Loan

Choosing the right place to live is an exciting decision however the risk that getting it wrong can bring serious financial impacts, as well as having to pack up and move again.

So what should be taken into account before finding a new place and signing on the dotted line? Grant Strawbridge, CEO of Credit Union SA, shares his thoughts.

1. Explore the hood

While it can often be difficult to pinpoint what attracts you to a particular location or suburb, it is important to spend time to try and identify what offers that ‘comfort of home’ feeling before making the move to a new neighbourhood.

Give some thought as to what you want from your area, and consider if you want a park to walk the dog, a nearby playground for the kids, the convenience of a supermarket close by, or a school just up the road.

2. Inner city pad

What we need from a home is likely to change as we go through life’s journey. The young and the young-at-heart are likely to be attracted to the glittering night life and modern amenities that come with having the city right at the doorstep. If you regularly eat out, don’t own a car, and enjoy live music, and plenty of entertainment choices then inner city life might be right for you. Just make sure all your belongings will fit into an apartment, because space will be at a premium.

3. Urban trendsetting

Buying a place in the Adelaide city centre can be a costly investment, and for those who love the energy and night life but can’t afford to live amongst the bright lights, investing in a near-city location is often a good compromise and can be more affordable and family friendly. These are often the places to find weekend farmers markets, quirky restaurants and cafes, and good local schools. They are also the spots that are often good for a young family that still craves the convenience of city living but also want a quiet stroll around suburban streets.

4. Family friendly

These suburbs are ideal for bigger families, particularly those that need lots of space, or have kids in high school. Being further out from the city centre could mean that a buyer purchases something that is twice the size, and often newly-built for the same money as a cramped apartment or near-city townhouse that needs some major renovations. A family friendly suburb is normally close to large shopping hubs, have homes with big outdoor areas for kids and entertaining friends, and convenient transport options that are perfect for the travel to and from school.

5. Going bush

We are all likely to entertain a ‘tree-change’ moment at some point in time, and whether it is a bush or coastal setting, living in an outer rural area can be a perfect place to put down roots. If you are a nature lover that wants to stop and enjoy fresh air, peace and quiet and beautiful views, then this is a place to be – so relax, unwind and enjoy a slower pace of life.

6. Speak to an expert

To find out more about a home loan, or to access CoreLogic RP Data property reports at no cost to assist with your research, contact Credit Union SA on (08) 8202 7777, visit our Member Experience Centre, ask a Mobile Manager.

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This article is intended as general information only and has been prepared without taking into account the personal financial situation, objectives or needs of the reader. Before acting on this information, you should consider its appropriateness, having regard to your objectives, financial situation and needs. You should always seek professional advice or assistance before making any financial decisions.