Selecting a target area is the first step in choosing your target neighbourhood.  You’ll often know roughly where you want / need to be. Each of us has our own needs. 

You’ll decide the factors that are important to you, then look at which neighbourhoods meet your needs. This simple exercise can throw up a broad range of options, and you may need to compare several different suburbs before you settle on one in particular. For example if your criteria is a leafy suburb, 10 minutes or less from a beach, with a local train to the city, and a good range of schools and shops – you could get a dozen different suburbs that match your needs. Add in some price constraints and this may drop off significantly.

In an earlier chapter, we discussed your Wants vs Needs analysis for a particular property – well the same exercise can (and should) be completed for the neighbourhood selection. Again, a few examples of the most common ‘needs’ are listed below – these are areas where compromise may not be an option: -

Schools Regardless of whether you have children – you should research the local schools. Quality schooling is a major factor for many buyers, and, if you own a property that is close to one you can feel confident that there will be a demand for it when the time comes to sell.

If you are new to the area and have school age children, then it's a good idea to visit a range of schools – make sure that these schools provide what you’re looking for.  Check application periods and availability.

Transport Proximity to public transport is important to most, especially if you need to travel into the city each day. A reduction in travel times is a major benefit to most home buyers.

Shops and amenities A local supermarket, shopping centre, restaurants and entertainment may also be a “must have”. They are again excellent features when considering the re-sale appeal of a property.

Parks and green areas Are important for most, and are associated with the ambience of the neighbourhood. Parks and green areas contribute to the overall sense of well-being.

Crime and safety record A sense of safety, backed up by low-crime figures is an important aspect for most. An area of high crime is usually reflected in lower quality and lower priced housing.

Your WANTS may include: -

Like-minded neighbours Can you see yourself ‘fitting in’ to the neighbourhood? Do the neighbours (appear to) have the same standards that you hold for property presentation and maintenance?

Security estate Is a security estate of particular importance to you?
In-house amenities If considering communal developments, are there any particularly important features (pool, gym etc.?)

Proximity to beach Obvious attraction for some.

Plans for the area Are there any Council plans for major works or development in your target area?
Demographics Refer to our MA report

TIP! CLICK HERE and download our free Market Analysis Report that provides detailed demographic information for the Hornsby and Baulkham Hills LGAs.