Size matters: how to get more bang for your buck on property sizes

‘Give me a home among the gumtrees …’ There’s no denying that COVID-19 has resulted in a widespread shift in attitudes on how a family home can contribute to a better work/life balance. With flexible work arrangements becoming the norm, families are focusing their house-hunting efforts on suburbs that offer larger homes with home offices, or simply just a safe, secluded and spacious place to raise the kids. But you don’t necessarily have to move to the outskirts of a city for a bigger, cheaper block. You just need to know which suburbs are most likely to help you unearth a hidden gem.

A new tool can help you identify where to look

This new realestate.com.au tool, which calculates each suburb’s median estimated price per square metre (based on plot size), can help you zero in on suburbs which give you more bang for your buck. That’s because not only does it give you the median valuation per square metre for the suburb you select, but it also gives you the same data for the immediate surrounding suburbs. This can allow you to shift your search focus to another nearby suburb if it offers a more attractive estimated price per square metre. For example, Teneriffe is one of Brisbane’s most expensive suburbs and topped that city’s list with a median estimated property price of $5196/sqm based on a median plot size of 441sqm. However, about 400 metres away is the suburb of Bowen Hills, with a median estimated property price of just $1621/sqm based on an even bigger median plot size of 652sqm. Not bad, when you consider the world’s fastest men’s 400-metre dash is 43.03 seconds…

Properties are selling faster than ever

Here’s the thing: chances are you won’t be the only one on the hunt for a bargain. In fact, properties are selling at record speed at the moment, with the average number of days spent listed on real estate sites falling to a historic low of 32 days in May. To help increase your chances of securing a property in this hot market, it’s a good idea to explore your borrowing options early. So if you’d like to find out more about what you need to do to help make your home-ownership dreams a reality, get in touch today. We’d love to help out.

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.

What to look for when buying a family-friendly home

Family-friendly home considerations

When searching for your very first home away from home, your needs are usually simple. A one or two bedroom, one bathroom home in St Kilda or Carlton, is not only cosy – it’s also affordable and does the job.

But then time goes by. You get married and begin thinking about or starting a family. Suddenly, your little one-bedder doesn’t seem cosy anymore. It just seems cramped.

Your criteria have changed. Now you’re considering four bedroom, three bathroom houses, with big backyards in Bentleigh or Hawthorn. But what other features should you look for?

When it comes to family-friendly homes, here are a few considerations to keep in mind:

1.THE FLOOR PLAN

  • Are all the bedrooms close together? When dealing with 3am feeds or nightmares, you don’t want to navigate your way from one side of the house to the other in pitch black.
  • Are there stairs? If yes, consider whether it’s easy to add safety gates. This is especially important if there are young babies and toddlers around.
  • Is it open-plan? By having an open-plan layout, you’re able to let your children run around while still keeping an eye on their (potentially mischievous) activities.

2. THE BACKYARD

  • Do you plan to get a pet or spend time entertaining outdoors? If you have dreams of owning a Great Dane and/or kicking around a soccer ball with the kids, you’ll probably want a big backyard. Alternatively, you might be content with a small ‘inside pet’ and a simple patio with a barbecue.

3. THE BATHROOM

  • Is there a bath? You can’t exactly have bath-time fun without a bath! If you plan on having multiple kids, consider a place with a bath big enough for everyone – or the space to renovate if necessary.
  • Is there plenty of space? Ideally, you’ll want enough space to sit by the bath and dry the kids off. And, room for them to move past each other while frantically getting ready in the morning.

Are you ready to find your dream family-friendly home? Be the first to know about just-listed properties matching your criteria. Ask your agent about joining Listing Loop today!