What to look for in new urban renewal estates.
There has been a recent push around Australia to make better use of land within metropolitan areas to establish new housing estates. What should you look for before making your new home in one of these developments?
The push for urban renewal is providing home buyers with a range of interesting new options. If your search brings up a property in an urban renewal project, here is our handy list to help you find the right home.
Planned for living?
When it comes to a new community, purchasers won’t have finished buildings and streetscapes they can see. Instead, they must make their judgements from a slick website, artist impressions and a site map showing the layout of the development.
These can be valuable guides, but you will need to look closely to determine if the new community has appeal and functionality.
Are residences integrated with open spaces, other facilities and any commercial areas?
Check the height and bulk of buildings and their proximity to each other.
What will the property have in its sight line?
Not all of these projects have car access.
Are adjacent properties producing any unwanted sounds or smells?
Urban renewal projects which deliver a great lifestyle and a sense of privacy, are generally more desirable and tend to have a better market performance over time.
Service central
One great attribute of many urban renewal projects is that they sit well within a metropolitan area. A great location is different to different buyers, so it is important to investigate whether a new project is in an area that has all the services you need to enjoy living there.
Services to look for include:
Public transport options.
Childcare services and schools.
Shops – especially a supermarket.
Cafes and entertainment.
Healthcare – especially GPs.
Appeal
It is hard to lay down rules which define whether a building or development has architectural appeal – beauty as they say is in the eye of the beholder. But there are some guidelines you can use to judge appeal:
Does the development feel warm and welcoming?
Are the buildings too angular, close together or do they have a ‘cookie-cutter’ feel?
Does the project have appeal from the street and interior walkways?
Does the design create an appealing micro-environment?
Does the community’s design work with or against the surrounding landscape?
There are some exciting new communities popping up across Australia – if you choose wisely to suit your needs there’s little doubt you’ll enjoy a great new lifestyle. Please get in touch should you require pre-approval or a new loan to make your purchase a reality!
