Myths Busted on the Important Factors in Buying a Home

In a development that is important for buying and selling investment property in Perth and across Australia, Aussie Home Loans recently released the results of a survey in which home buyers were asked what factors were the most important in their decision.

The most astounding development was that schools ranked only 12th in factors that go into the decision making process. For many who have assumed that schools were the most important factor, or at least one of the top three, these survey results could turn out to be an “eye-opener.”

With the assistance of RP Data, Aussie Loans received 2,400 responses to a survey of their customers who obtained home loans from Aussie Loans. The biggest “take” was that the property itself is now deemed more important, at least on a general basis, than factors outside of the property such as location.

The Results

The most important consideration was the number of bedrooms, followed by the overall size of the block and either a garage or other off-street parking. Next was the price, followed by the backyard and number of bathrooms. Construction came in next, followed by capital growth.

The “family friendliness” of the neighbourhood came in next, followed by the number of parking spaces. Finally, external factors and proximity to infrastructure and amenities came in. Proximity to public transport was 11th , followed by proximity to a primary school. Proximity to work was next, followed by the external entertainment area. The internal entertainment area was 15th .

What It Means for Investment Property in the Perth Area

First of all, we are going to go out on a limb and infer from the data that renters are going to consider the same things important in a family rental home as buyers do. We think that this information provides a market advantage for those who use it correctly.

We recommend that investors pay close attention to these factors when looking at investment properties. It is essential to maximise investment property revenue whether renting or selling.

If you only remember one thing from this piece, remember this: the property itself is more important to tenants and buyers than outside factors.

Call 1300 472 427 for more information about investment properties in Perth and how you can manage them.

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