There are plenty of opportunities for buyers in the Sydney market at the moment. Prices have taken a plunge, and this is causing concern among many people. However, this creates an opportunity for those who are looking to buy property in Sydney. The power has shifted from sellers to buyers, and prices have dropped by more than 5.9% in the last quarter.
This provides a great opportunity for buyers to get a good deal on a property. There is less competition in the market at the moment and interest rates are expected to rise in some months, so this could be a good time to get a property before prices start to increase again.
As the market slowly changes, there are a variety of things you can do to make sure your property purchase is still a wise investment. Here are four key design features to keep an eye out for:
1. Location, location, location
The old real estate mantra holds true even in a down market. Look for a property in a desirable neighbourhood that is close to public transport, shops and other amenities.
2. Size matters
In general, larger properties are more sought-after than small ones, so look for a property with plenty of space. If you’re considering an apartment, make sure it has enough bedrooms and bathrooms to comfortably accommodate your needs.
3. Go for quality, not quantity
When it comes to fittings and fixtures, it’s better to choose quality over quantity. Look for high-end finishes like hardwood floors and stone countertops that will add value to your property.
4. Consider the future
When choosing a property, it’s important to think about the future. If you’re planning on starting a family, look for a property with enough space to comfortably accommodate your growing family. Alternatively, if you’re looking for an investment property, choose a property in an up-and-coming neighbourhood that is likely to see appreciation in the years to come.
What do you look for in a property design when buying?
During your research do not forget to consider:
–Layout: How does the layout of the property work for you? Is it open plan or closed off? Are the living areas separate from the bedrooms?
–Natural light: How much natural light does the property get? Are there any dark areas that could be potential problem areas?
–Storage: Does the property have enough storage for you? Is there potential to add more storage if needed?
–Outdoor space: Does the property have any outdoor space? If so, is it private or shared? Is it a good size for your needs?
–Finishes: What are the finishes like in the property? Are they high quality or low quality? Will they need to be replaced soon?
–Age: Is the property an older property or a newer build? If it’s an older property, are there any potential issues that could arise from this?
Now is an excellent moment to invest in real estate in Sydney, as prices have decreased dramatically in recent months. Keep an eye out for these essential design characteristics to ensure you’re receiving a good long-term return on your investment.