Choosing a Location to Build Your Home
Location is the first point of call for aspiring homeowners on the hunt for their first abode. It's also an old cliché in real estate we're sure you've heard before, but because its importance is multi-layered, including meeting your needs, preferences, cost and resale value, it's a consideration that you really can't avoid. Where to build a house is a primary concern for first-time buyers as it determines many of your lifestyle preferences, and when you play your cards right, you can meet all of your needs at an affordable price.
Every region, suburb and neighbourhood offers a unique combination of amenities, atmosphere, community, lifestyle and affordability. That's a lot to consider – and a lot of pressure to put on the location of your new build. As a first home, or for any home, it's unreasonable to expect a single location to cover every need and be at the right price. Some sacrifices are needed, but with the right balance and working with a trusted builder, you should only have to negotiate on the important things.
Arriving at your ideal first home requires some planning and consideration. You can make it a lot easier on yourself with a critical first step – understanding what you and your family need, want and prefer in your home’s location.
Proximity to amenities and facilities
What amenities do you and your family need to be near? Maybe hospitals are important to someone in your family, you'll need to be close to quality schools, or sporting facilities. Listing which amenities are important to you and your family before you begin looking for the right location will help make your decision easier when you gather information about different spots.
Local Victorian governments have introduced new plans (Plan Melbourne 2017-2050) to see neighbourhoods and regional suburbs equipped with many more facilities and amenities. The plan will mean that more people can enjoy the benefits of a less stressful lifestyle while still being close to the things they need. It will ensure things like schools, parks, shops, childcare, public transport and doctors' offices are implemented in more areas. These amenities make everyday life easier while also increasing the value of your property long-term.
Connectivity
How connected to roads and public transport your future home will be is a critical factor in choosing the location. Well-connected areas can make life a lot easier, primarily if you work in the CBD or commute for personal reasons.
Sometimes, a well-connected location near train stations or roads further out of the city can be a more convenient area to live in than a less connected, more-central location. This will allow you to live in a spacious, regional area further from the city, which is a blessing for its lifestyle benefits, without sacrificing the ease of getting around.
When shortlisting your favourite and most suitable suburbs, try to determine a realistic view of how long your commute will take, what public transport options are available and future infrastructure plans in the area. While connectivity doesn't have to be a deal breaker, it can help you refine your shortlist and clarify your decision.
Lifestyle preferences
Lifestyle is usually the focal point of location choices. One person might feel at home in the city within a dense area and busy lifestyle, while another person will prefer the sanctuary of wide open spaces and endless greenery of more regional locations. Knowing what you like is one thing, but it's also important to consider you and your family's lifestyle needs. While you might like city life, will your family need a more relaxed and stress-free lifestyle in the near future?
If you're not tied to a specific location for work, you have more freedom to find a location that suits your family's lifestyle and contributes to a community. People usually perceive central areas as more convenient but with a stressful lifestyle, while viewing regional areas as less connected but offer a relaxed lifestyle in a natural setting and with a nourishing community. In modern times, however, connectivity in regional areas that provides a better quality of life is much less of an issue.
Proximity to family and friends
When you build your first home, you can expect some changes to come along with it. You'll probably be in a new location to what you're used to, which can mean you'll have different proximity to friends and family. While this is likely to be on the lower end of your priority list, it's always important to be able to visit your loved ones conveniently.
Consider how far away you can comfortably be from your current life, friends, and family while choosing a location. Again, this will tie into the connectivity of your new location, and as long as there are efficient roads or public transport around, it might just mean your journey takes a little longer.
Affordability
The price of building a house is usually the bottom line in most property decisions. And that makes sense. When homes are usually the most expensive asset most homeowners invest in, keeping costs lean makes your repayments smaller and your lifestyle more comfortable. Different locations vary in affordability, depending on the several factors we've discussed here, including popularity, lifestyle opportunities and amenities.
Popularity can inflate costs like nothing else because prices can soar to find the highest buyers when demand is heavy. This is another reason why building your first home is an excellent choice. It avoids these trends that cause inflation while offering buyers many options to meet their lifestyle and convenience needs, keeping the cost of their first home low and meeting all of their exciting future needs.
The First Place for first-time buyers
There are ways to make building your first home even more affordable and satisfying than choosing the right location. First-Place offers house and land packages to first-time buyers, which means you'll have options to select a spacious block of land in a desired location and then witness your house materialise on top of it.
Purchasing a package deal can deliver much better value than separate alternatives, and with a quality builder like First-Place, it'll be an investment that pays off long into the future. Contact us today to find out more. Check out our first home buyer guide and price your home with our home configurator. Get in touch today on 1800 134 778 or enquire to find out more.
Disclaimer
This advice in this article is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs. It is recommended you seek professional advice from a financial adviser before making any important decisions.
First Place is not a financial adviser. You should consider seeking independent legal, financial or other advice to check how the website information relates to your unique circumstances.
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