Brisbane – How Much is My House Worth?
When looking at what impacts how much your house is worth, there are many factors to consider. A big one being educational and recreational opportunities near by. These opportunities are important to look at because of how important these are to families, and educational professionals looking to buy.
Brisbane is home to several multi-campus University and Colleges. Generally, these campuses are built closer to the more urban city areas, opposed to further out in rural areas. The location of these campuses definitely impacts the value of homes in the area. This is because of two major things. The first, is the demand that areas close to these campuses are in; And the second being the educational, and job opportunities that being close to these campuses can bring. Many investors enjoy buying houses in locations such as this, because it provides them the opportunity to renovate and flip, or rent out the houses to students. When figuring out how much your home is worth, it is important to keep these things in mind.
Just like it is important to look at post-secondary opportunities near by, it is necessary to look at elementary, and secondary institutions too, when figuring out how much your home is worth. For many families, purchasing a home in their desired school district is at the top of their list when looking at potential homes to buy. If your house is not located near schools, or schools that perform well academically, odds are it will sell for less than those located in better school districts.
If you are not located within walking distance to a school, but are in the school district of one or several schools this can still impact how much you home is worth. How much this impact is however, will depend on how easy it is to actually get to the school. Is there public transportation going from your neighbourhood to the school(s)? Do parents have the option of sending their kids on a school bus? If not, and transportation depends on parent’s driving their kids to and from, how far of a commute is it? Does it often get backlogged with traffic? Odds are that if you are further away from the school you are living a little further out from the city, meaning that what your home is worth, is most likely less than a house located in a more central area. The same idea goes for if the transportation is not easily accessible, the monetary worth of your home will decrease more than if the transit was available. Moving to a location that involves driving an extra 15 or 20 minutes each morning is not ideal, and is not a selling feature for many parents.
When looking at what your home in Brisbane is worth, and how the educational opportunities that are around them impact housing prices, it is important to look at opportunities outside of the classroom as well, primarily – recreational opportunities. Many parents are passionate about providing their children with as many opportunities as possible, and also want to take advantage of some of these opportunities themselves.
Houses that are located closer to parks, community centres, forests, trails, arenas, all have an advantage when on the market when compared to houses further out, and lacking the ease and accessibility to these activities. Brisbane is known for it’s beautiful parks, forests, and trails, and offers homeowners the opportunity to live near these wonderful amenities, while still enjoying the traditional amenities that a capital city offers, such as shopping, festivals, and events. However, home owners in Brisbane understand that their home came at, and is worth a premium because of this.
It is because of the ease of accessibility that when looking at what homes in Brisbane are worth you will see that further into the city they are, and the closer they are to these opportunities and amenities, that the housing costs increase. How much your home is worth is not solely based on the building itself, but the location, and the area that it is in, what that area has to offer, and how in demand those amenities and opportunities are.