If you’re looking to buy in Fairfield, but want to make sure the home you’re buying will leave you with a profit at resale if you need to sell in the next five years, it can be a very tough decision. Do you go for the perfect house, the worst house in a good street, the ‘renovator’s delight’, or a new home? These days, with more and more Generation Y’ers choosing to rent rather than make the leap into first home ownership, the property landscape is changing. While there are still buyers for every price bracket, the days of young couples competing for doer-uppers is no longer a guarantee.
So how do you buy, secure in the knowledge that your home will be able to make you a profit when it comes time to sell? If you’re tossing up between the worst house in the best street or your dream home in a worse spot, it can be really tricky. First of all, there are no guarantees. But a general rule of thumb, which you may have heard once or twice before, is ‘Location Location Location’. Sacrificing a little on creature comforts to be in a great area can certainly ensure you turn a tidy profit, providing the house has potential.
Generally sticking close to good schools, being in a convenient location to public transport, and not having to drive for miles to the nearest shopping centre will all work in your favour. As a buyer, it should be quite easy to think like a buyer – if you want your kids to go to a good school, the chances are so will others. If you don’t want to fight traffic every morning to get to work, you’re probably not alone. A pretty and convenient location will generally do well on the market, and if you can make small improvements to the house, chances are you won’t lose on the return.
Unfortunately, real estate is a dynamic market, and there are no guarantees. It’s important to understand local market trends, and to be aware of the recent sales history of different areas. We recommend coming in and chatting to our Professionals Fairfield Real Estate team before making your decision, as we can help you through the intricacies of our local Fairfield market, and ensure you know everything you need to know before diving in.
If you’re thinking of buying in Fairfield, and want to make the best decision for your family as well as your hip pocket, come and chat with our team at Professionals Fairfield Real Estate today.