Hodges Real Estate

You Can’t Choose Your Neighbours – Or Can You?

January 20, 2015 Uncategorised

Property Observer recently published an article written by Hodges St Kilda Director, Michael Townsend, on the benefits of having good neighbours.

Streets that are home to tight-knit communities, such as those that hold street parties during Christmas and open houses during Halloween, command premium prices and attract larger numbers of bidders than surrounding streets, as people look to purchase a slice of this lifestyle. Families in particular are drawn to these types of streets and neighbourhoods.

In addition to offering strong community relations, the presence of many like-minded residents often also results in better quality local resources and facilities, such as neighbourhood houses, schools and community groups. These amenities also act to increase property prices, ensuring a sound investment for the future. Not to mention that surrounding yourself with like-minded people often results in long-term friendships.

Research is the key to ensuring you buy on the right street. Drive through the street at different times of the day and visit the local council to check any building developments or restrictions that are in the planning stages in the area. Speaking to a well-informed local real estate agent can also be beneficial, as they can share their extensive knowledge of the local streets and market.

Read the full article here for more tips on how to find the area and neighbours best suited to you.