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What to look for when buying into a new suburb

Choosing a new neighbourhood to settle and build your new home is an exciting life decision.   

There are many benefits to purchasing in a newly established suburb. From having a brand-new house, with new infrastructure and facilities such as lush parkland, playgrounds, schools and shops; there are lots of advantages to be had from being among the first residents of a new area.

But what are the top considerations potential purchasers should consider when it comes to buying in a new suburb? We have devised a list of tips and things to consider when making your property ladder debut in a new locale:

Buy early to gain the most

There is something exciting about witnessing a new community come to life.

Potentially the biggest advantage of buying into a new suburb is greater affordability compared to inner-city areas. This comparative affordability can result in you reaping greater long term capital growth benefits as your parcel of land appreciates over time at a better rate. Coupled with current record low interest rate, buying into new suburbs in the current market has become a very attractive prospect for many Australians.

Buyers have been quick to snap up blocks in Officer in Victoria home to one of Satterley’s most popular masterplanned communities, Arcadia. Its variety of lot sizes, proximity to train stations and three new schools have had strong buyer appeal. Stay tuned for the release of new land at the commencement of a new neighbouring masterplanned community in Officer.

Arcadia Secondary College is one of three new schools in the Officer area.

Out with the old, in with the new

Calling a new suburb home means living amongst all things new. From schools and transport links, to parks and shopping centres, a new suburb means new amenities are on the horizon to cater for population growth.

Not only are such amenities great for your own use as a resident, but they are future drawcards for buyers or renters in the years to come if you plan to sell or use your property as an investment.

Close proximity to schools will make a huge difference to school drop offs, and more than likely many of your new neighbours will be your children’s classmates, which makes for a strong sense of community. Real estate experts suggest top public school zones may add between 10 – 30% to the price of a property.

Future plans for the area

Fast forward a year or two and the new suburb you are looking to buy into will without a doubt look very different.

If you’re thinking this will be home to you and your current or planned family, things to consider include, suitable childcare and educational facilities for your kids, future parks with play equipment and plenty of open space and walkways.

Satterley’s Myella, Botanical and Seaside Estates are all welcoming new parks within the next few months, providing an incentive to buy into the new and developing suburbs.

How easy will it be to access transport links and local amenities? Will your daily commute to work be made easier with plans for more public transport links, or better transport connections? These are all important considerations.

In Satterley’s Seaside Estate, Madora Bay, families will benefit from the State Government’s plans to construct the new $25.77million Madora Bay Primary School starting in December.

Myella Estate's latest $1.1 million park will be complete in June 2021.

Do your research

Buying into a new area is a big decision and doing your research before making a purchase is a must.

Explore local council minutes to find out what is planned for the area, for example, are there community centres, new or upgraded playgrounds and libraries in the works?

Look at the social media pages of the local residents’ association to find out from locals already living there what living in the area is really like. See if there are any community events scheduled that you can attend to get a taste of what life in the area is like.

Read the local newspapers to keep track of what is happening in the suburb.

Speak to local real estate agents about buyer demand for the area, and what homes and lots have been selling for.

Search for State Government plans for the area. Take note of government announcements. Are there major works in the pipeline that will be of benefit to you?  For example, in Perth at Satterley’s the Hales in Forrestfield, residents will benefit from the $1.86 billion Forrestfield-Airport Link project, which will provide a new rail service to the eastern suburbs via three new stations at Redcliffe, Airport Central and High Wycombe.

Living within walking distance, or a short car trip, to a train station can save time and money. Residents at Allara Estate in Eglinton will soon benefit from the METRONET Yanchep rail extension which will see the Joondalup train line extended 14.5kms north to Yanchep, Eglinton and Alkimos.

Likewise, residents of Smithfield Village, located 15km from the centre of Cairns, will also benefit from public transport infrastructure with the Smithfield Bypass, a $164 million Queensland Government project which is now underway.

Visit the neighbourhood

There is no better way to give you a taste of whether a new suburb is suitable for you and your family than by visiting it.

Take a drive to the community you are considering and speak to land sales staff. Ask for a tour and give yourself an up close and personal look at what the new area is like. Speak to any current residents and ask them what they enjoy about the suburb. Walk through the community and give yourself an up close look at the amenities on offer

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