Residz Team 5 min read
Buyers can look further afield with the help of new property research tools.
COVID-19 lockdowns and remote work opportunities have changed the way we buy houses. Home buyers used to kneel at the feet of location, location, location. Now it’s research, research, research, according to Robert Klaric of The Property Expert International.
A “great location” doesn’t mean what it used to. Without a commute to consider, house hunters want lifestyle (how they’d like to live), not just location (where). In this article, we take a quick look at lifestyle research you can do quickly and for free.
In his book Secrets of the Property Expert Robert Klaric says knowledge is power.
“Thanks to technology, that knowledge is now readily accessible. So, no excuses!”
He says the more homework and planning you do about the location you wish to move to, the more likely you are to make a logical, rather than a risky and emotional decision.
Making a logical decision is helped by broadening your thinking about what constitutes the ideal home for your needs. A good way to start is by asking the question: “And what else?”
In his bestseller The Coaching Habit, Michael Bungay Stanier uses the question “And what else?” over and over to get to the heart of an issue. Asking “And what else” helps you to research all sorts of lifestyle criteria for your house hunt.
Remote work has upended the property market. Inner-city homes now compete with regional bush blocks, secluded beach shacks, or cabins on mountain bike trails. The sea change has become the C-change (COVID-change)! Working from home opens up many possibilities. Could you see yourself moving outside your suburban comfort zone?
If you said yes, a good property research platform could help answer these types of questions:
Regional areas are flush with tree and sea changers. The Australian Bureau of Statistics showed a net 43,000 Australians moved to regional areas from capital cities in 2020. This is wonderful for once-languishing towns.
Small towns are like an Aldi supermarket - they have most things you need, just fewer choices. And gee, the bang for your buck is compelling. You can get much bigger blocks for a lot less money.
If a regional move is on the cards, try Residz.com to research these types of questions:
The great “drift north” is happening, lured by outdoor living across more months in the year. The ABS reports Queensland gained the most people from net interstate migration (+7,000) over the March 2021 quarter, while Victoria lost the most (-4,900), closely followed by New South Wales (-4,500). The tough winter lockdown has people running from heating bills, cold and damp home offices, and general winter malaise.
If you’re researching properties up north, you could ask:
Suburbs once considered less desirable are seeing so-called “gentrification” due to the lack of affordability in “better” areas. While often the only choice for entry-level buyers, such suburbs can offer good capital gains. Research into crime trends and employment statistics might help to unearth up-and-coming areas, although COVID lockdowns will likely skew recent data. Crime stats and more are found at Residz.com.
From this you can start to answer:
Health conditions and facilities are a greater consideration than ever. This year’s census is expected to show people aged 65 or over to have outnumbered those under 15. In 30 years’ time, almost one quarter of the population will be over 65, and 5% will be 85 or over (ABS data). Buying a home at an older age necessitates researching these questions at Residz:
Given the time spent on home schooling this past 18 months, parents will have a uniquely nuanced picture of their child’s schooling needs.
Some will need to have their children “catch up” as fast as possible. Others might have thrived with one-on-one attention. Still others might have shown their parents how exceptional they are.
Choosing the right school does take research. You could ask:
COVID-19 has highlighted our need for community and belonging. We see neighbourhoods helping each other and think “I want to live in a place like that.” The truth is, we engender a sense of community by reaching out to neighbours, by exercising locally, shopping locally, and choosing local tradies and services.
Getting to know your local area starts by researching:
First home buyers face a battle to get a foothold in the property market without being tied to the old standard of location, location, location: they can’t afford that luxury.
All the above is driving a need for broader information about where you might choose to live instead of just the best street in the best suburb. It’s the “And what else?” factor. Data is the new oil, they say, and buyers are “drilling” for that oil on sites such as Residz. Residz is a beacon for the first home buyer battler, in fact all home buyers, in highlighting alternative lifestyle choices!