What is My House Worth – Hobart

When looking at purchasing a new home, it is important to understand that where the house is located within a city makes a major impact as to what a house is worth. Houses in Hobart for example, are worth more the closer to the city core that you look. Similarly to many other cities, the further out generally means less access to the numerous opportunities and amenities that major cities have to offer.

When you live close to a major city such as Hobart, you are able to take advantage of many amenities. For example, the city of Hobart is home to a strong and well established tourism industry. When people visit the city, generally they are not interested in visiting the suburban outskirts, but the busy city center, that is home to shops, restaurants, hotels, and that provides those who did not drive to the city, easy access to travel from point A to point B. Housing in this area is generally older for the most part, however, because of the demand for real estate in the area, more modern real estate options such as apartment style condominiums are developed. These are often a wonderful opportunity for first time home buyers, or young professionals looking to purchase their first piece of real estate in the city, but pay, in most cases a (somewhat) more reasonable price. Living downtown also means that, like tourists, residents do not need to have a car to access the different points of the city. Being able to save on the costs of a car itself, the regular upkeep, insurance, and gas, is a huge benefit, and a very attractive factor for a lot of perspective buyers. It is not just the transit that makes living in a downtown core more appealing, what houses are worth is also very dependent on the employment and networking opportunities that are nearby. Most people do not want to live in an area that does not have a strong economy, or job market. While at times, it can seem that jobs are difficult to find anywhere, living further out in a more suburban area often impacts the ease of accessibility that people have to find jobs, and to make the networking connections necessary to further their career.

In many cases, houses that are located further out sit on larger lots, and provide home buyers with more square footage, as well as, in many cases an additional level of privacy. What houses in areas like this are worth, tends to be lower than houses closer in towards the city. Houses further out, while they do provide more space, do not provide residents with the public transit that the main part of the city often does. Without a strong public transit system in place close to homes, the residents of these houses have to not only drive, but often deal with a long commute that can be extremely stressful depending on weather and traffic. What houses are worth in Hobart, like many cities, is very much dependent on where exactly you are looking to buy. Often houses in the suburbs do have schools nearby, however, they are generally newer and built around the time that the neighbourhood was developed. This is not a bad thing by any means, however some parents do prefer their children to attend a more developed and established school. In addition, the outside of the classroom opportunities in suburban areas are fewer than those that schools located down the street from galleries and events are able to provide.

When it comes to what houses are worth, location really is that major factor that has to be considered. The more opportunities that a neighbourhood or area offers, the better the answer to the question, “What is my house worth?”



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