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You need to look at the street and surrounding areas to know whether or not you need to invest in a property. Here are some tips on how to assess the surrounding area of a property. Book Your Free Strategy Session

Resources Related To This Episode

Inspecting A Property Series

Part 1 - Questions To Ask A Real Estate Agent 

Part 2 - How To Assess Street Appeal and The Surrounding Area

Part 3 - How To Inspect The Outside of a Property

Part 4 - How To Inspect The Inside of a Property

 

How To Find The Best Properties in a Suburb

Investing With an Owner Occupier Mindset

Transcription:

When it comes to inspecting a property, not only do you need to ask the agent questions, inspect the outside and inside of the property, but you also need to look at the street as well as the surrounding areas to see what it's like. So in this episode I'll go with me, Ben Everingham from pumped on property and we're going to be talking about this aspect of inspecting a property which is looking at the street and surrounding area. So I think it's super important. Some of these stuff can be done on your computer at home before you get out there and some of it is really that touchy feely stuff that you need I think is really important. Before you actually buy. You have and so me and ben actually did a video on how to choose the best property in a suburb, which I will link up in the description down below.

But that really talks about a whole bunch of this sort of stuff that you can do online. Like talking about distance of high schools, primary schools, bus stops, train stations, all of that sort of stuff. You can do that easily from your desktop online and so you would kind of do that first and now we want to talk about what to do when you're actually at the property in person 100 percent. So we've got a bunch of different questions that you ask your team ask when they're looking at a property. So we're just going to kind of work through some of that. The first one being an important one is, is this property on a main road? Now? This is one that you should be able to tell from Google maps, but not necessarily when you're in the area. See the traffic and it becomes a lot easier.

So we, the reason we don't want to buy and main roads is, you know, when there's suburbs with $400,000 on average, maybe you can buy a house on a quiet street for 400 k and the house on the main roads with $390,000. But as the properties values go to a million dollars or $2,000,000 in 30 years time. Um, the difference between the main road and a and a quiet street can literally be half a million bucks. So it's really, really important to remember that for future capital growth and that's why he asked that one and the next one is, are the houses in the street well maintained? So that's also something hard to find out. You could use Google street view, but being there in person and just getting the vibe of the street, looking at your neighbors, looking at the other houses in the street, how well areas maintain, gives you an idea of how many people in that area, uh, owner occupiers, how many are going to be improving their properties, what gentrification is happening, all of that sort of stuff.

What exactly is it that you guys look for? It's like that's a touchy feely one. And again, like it's, I look for what he wants. That's, you know, how many houses in the schrager renovated is another thing that we've looked for. But how, how many people are actually taking care of their cars? How many people are taken care of their lawns, you know, what are the gardens look like in the gardens in decimate grader? Are they owner occupier? What's just the general sense of the neighborhood? Because as Ryan said, gentrification is absolutely key for people to pay more in the future. We want a higher percentage of annual occupiers with surplus income,