If you’re looking to buy a house and land in Sydney, Australia, you have many factors to consider in your search. Choosing the right location to live in can significantly impact your quality of life down the road, so it’s important to take your time when considering options and consider each factor carefully before making a decision. Here are five factors to consider when choosing a house and land Sydney.
Location, location, location—it’s an adage for a reason. Ensure you have easy access to transport links, schools, work, medical facilities etc. Also, consider proximity to family and friends who can provide additional support during stressful times (and let’s face it, buying a home is stressful). Ideally, you should be able to walk or bike around your neighbourhood. Less time on public transport or driving means less stress on you!
For most people, house size is a top priority. If you need space for more than just your family, you may consider getting a home with a granny flat attached, which allows you to create extra living quarters on your property. Depending on zoning restrictions, these living areas may not be used as rental properties. If you’re looking for something smaller, perhaps one of Sydney’s many terrace houses will suit your needs. These homes are generally cheaper than detached houses and have fewer maintenance costs due to shared walls between units.
3) Financing options
You’ll have many financing options when choosing a house, whether you buy as an individual or with others. For example, you can take out a personal loan, bank loan or apply for government benefits. Of course, there’s also a mortgage, which most people think of when they hear that word. A mortgage is where you borrow money from a lender—such as your bank—to purchase property, with repayments made over time through regular deductions from your salary. Mortgages typically last between 20 and 30 years, depending on how much money you borrow.
4) Property types available
Sydney has many different properties, from apartments and duplexes to spacious townhouses with generous balconies and backyards. Each type of property comes with its own set of pros and cons. If you’re buying with your family, think about what kind of property best fits your needs. If you’re a single person or couple looking for more space, a house may be right for you. Or, if you live alone, an apartment or studio unit might be more convenient.
5) Security for tenants and owners
If you’re an owner, investing in a property close to transport links can be convenient for your tenants; if you’re a tenant, proximity to public transport will help you get into town. It also means that your landlord doesn’t have a long commute when they come round for any repairs.