Property Value – Darwin
When it comes to real estate there is one thing that everyone knows about this great investment, it is reliant on location. Buying a house in the middle of nowhere does have it’s perks, perhaps selling to someone looking for a vacation home, you would be able to make a nice profit, that said however, the overall property value of the house will be less than a house in or closer to a major city simply because of it’s location.
Yes, it is true that buying a house further out, in the rural areas, or suburbs you can generally get a much more sizable lot, and home. Without the shops and amenities, and the demand for more real estate that cities offer there is room for that. These areas can be wonderful places to raise a family, there is no denying that. It is all about what you and your family want, what you can afford, and ultimately what works best for your family. The nice thing about houses in these areas is that for the lower property value, you can generally get a fair bit more land. That said, you are also a lot further away from many of the things that majority of people want access to.
Living right in the city of Darwin for example, provides residents with a strong transport system, that caters to it’s residents, and runs regularly from early in the morning to late at night. Surprisingly, the city does not have a train rail system, however, the bus system that is in place extends throughout the city and offers residents an easy and accessible way of getting around without having to necessarily drive themselves. This is a wonderful option for residents who do not have to worry about paying for parking at work, or who perhaps do not drive, it allows residents to put less milage on their cars, and it benefits the environment at the same time. This strong bus system that the government of Darwin has put in place helps to increase property values around the city because it gives residents the option to reduce the money that they would use traveling (gas, oil changes, and additional maintenance) and it provides excellent access to the throughout the entire city.
Another reason that property values within cities like Darwin are higher than property values outside, and in more rural communities, is that the city offers residents tonnes of opportunities in terms of education and careers. The city is home to over 50 schools in total. Some secular, some private, some publicly funded, some funded by the government, the options that parents have are actually quite impressive. Similarly in terms of employment, the city has four huge industries, the ever expanding port, military, tourism, and mining. In addition to these there are jobs available in food service, education, literature, science, health care, and more. While obviously these jobs are not an option for residents who live further out, there is the time that those residents have to spend commuting that has to be taken into consideration. And to add to that, once you go so far out public transit does not run, or does not run as often, meaning that the commute must be done in their own car.
In a lot of ways property values reflect the options that a city offers its residents. Although you are usually getting a smaller, or more compact living quarters when looking at an urban setting, you are getting the freedom of not necessarily having to drive to work everyday, or being able to choose out of over 25 schools for your children, allowing you to pick based on what is best for your child and your family, not just because it is the only school that you live in the district for. Property values reflect the economy that they are located in, larger cities such as Darwin have economies that are constantly growing, and thriving because of how many people live and visit there. And finally property values are determined by the demand for the location. More people are looking to live in these urban areas because of these opportunities than further out.