When looking to purchase a property in NSW, all buyers should conduct their own “due diligence” in relation to the neighbourhood they are looking to buy in.
Here are seven helpful tips:
- Check the crime statistics for the neighbourhood. If you don’t know where to start, consult your real estate agent, solicitor or perhaps a conveyancer on how to obtain this information.
- Talk to the neighbours. They are often a fount of knowledge and willing to help you out.
- Research statistics about prior sales in that neighbourhood. Has there been a rush to sell recently? If so, this can be a sign of trouble for the area so you may want to find out why.
- Are the homes in the neighbourhood and the surrounding area well maintained? A simple Google map search may help you identify any close by amenities, transportation, parkland, and schools.
- Are there any environmental issues with nearby properties? It may be worthwhile to make enquiries with the relevant council.
- If possible, visit the area during different hours of the day and different days of the week. This will help you determine noise and traffic patterns. A peaceful neighbourhood on a Sunday afternoon may be a maelstrom during weekdays at 6 PM.
- If you are able to visit the area during different hours of the day, you can even check sunlight and shadow patterns and how they impact various areas of the property. That great patio may not be so great if it bakes in the summer sun.
Remember, a little due diligence may go a long way in helping you make an informed decision on one of your biggest purchases.
If you need any further information or assistance with the purchase of your property, please feel free to contact one of our Sydney Lawyers on 1300 667 461.
Ask us for your free consultation with a solicitor in our Sydney office. Our conveyancing services are not only limited to Sydney CBD but also include suburban areas such as Canterbury, Rosebury, Dulwich Hill, Campsie, Beverly Hills, Lewisham, Newtown, Camperdown, Roselands, Earlwood, Belmore, Chippendale, and many more.
DISCLAIMER: The content of this publication does not constitute legal advice and is intended only to provide a summary and general overview. We do not guarantee that it is current. You should seek specialist legal advice or other professional advice about your specific circumstances.
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