{"id":8550,"date":"2018-04-06T05:00:45","date_gmt":"2018-04-06T05:00:45","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/is-a-neighbourhood-more-important-than-the-property\/"},"modified":"2018-04-06T05:00:45","modified_gmt":"2018-04-06T05:00:45","slug":"is-a-neighbourhood-more-important-than-the-property","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/is-a-neighbourhood-more-important-than-the-property\/","title":{"rendered":"Is a neighbourhood more important than the property?"},"content":{"rendered":"

<\/p>\n

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It\u2019s easy to be fixated on finding the \u201cperfect place\u201d when buying property, but experts say the neighbourhood it\u2019s in is just as, if not more, important.<\/strong><\/p>\n

Executive chairman of WBP Group, Greville Pabst says home buyers and investors need to \u201ctake off the property blinkers\u201d and carefully consider the neighbourhood a potential purchase is in.<\/p>\n

\"bondi<\/p>\n

Don\u2019t underestimate location when it comes to quality of lifestyle and future property valuation. Picture: Getty<\/p>\n<\/div>\n

\u201cPeople fall in love with the notion of a \u2018dream house\u2019, but it doesn\u2019t matter if you\u2019re buying something to live in, or as an investment, specific location is absolutely critical as it drives value,\u201d Pabst says.<\/p>\n

\u201cProximity to a desirable village is almost like another bedroom these days. In some cases, the neighbourhood can be more important than the property itself.\u201d<\/p>\n

\u201cWe all need a roof over our head, but fundamentally, buying real estate<\/a> is a financial investment and we all want that investment to grow. So, you want to buy in a location which has a history of growth and performance.\u201d<\/p>\n

Pabst, one of Australia\u2019s leading property commentators, says it\u2019s not just about picking the right suburb, or even the right street, to buy in.<\/p>\n

\u201cWe all know, whatever suburb we live in, there are good streets and less desirable streets, but then there\u2019s which side of the street or if it\u2019s a block of apartments, which location the property has within the block\u00a0\u2013\u00a0<\/span>that matters too.<\/p>\n

\u201cEach of these factors impact on whether or not the property is going to be a good performer over time. You really need to drill down,\u201d he says.<\/p>\n

Amanda Jones from Hodges Sandringham in Melbourne agrees neighbourhoods matter.<\/p>\n

\u201cWe\u2019re definitely seeing that buyers are willing to sacrifice certain features of a property, like the size for example, if the neighbourhood is the prime attraction,\u201d she says.<\/p>\n

\u201cSome buyers choose areas based on schools and parks, while others want a neighbourhood with shops, transport etc. It all comes down to their own individual needs,\u201d Jones says.<\/p>\n

Investors need to think about potential tenants, who want amenity and a great lifestyle, just like owner\/occupiers.<\/p>\n

\u201cMany renters chose property after location and the best locations are always sought-after, even if they have to make compromises on the property itself. For any investor, I would say location is a key factor when looking at buying an investment property.\u201d<\/p>\n

\n <\/p><\/div>\n

Realestate au <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

It\u2019s easy to be fixated on finding the \u201cperfect place\u201d when buying property, but experts say … Is a neighbourhood more important than the property?<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":8551,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[1403,15239,12908,543,617,3058,41,1155,818,84,907,3053],"class_list":["post-8550","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-buy","tag-chase","tag-home","tag-home-buying-guide","tag-house","tag-location","tag-property","tag-property-valuation","tag-real","tag-real-estate","tag-tenant","tag-tenants"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/04\/bondi-lifestyle_2000x1500.jpg?fit=1886%2C1415&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":5054,"url":"https:\/\/amazingproperty.com.ng\/blog\/understanding-restrictive-covenants\/","url_meta":{"origin":8550,"position":0},"title":"Understanding restrictive covenants","author":"Amazing Property","date":"June 25, 2017","format":false,"excerpt":"[ad_1] Building a house involves countless decisions about fixtures, finishes and fabrications, but owners need to ensure a new home follows the rules set out in its covenant. 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