3 things to consider when looking for a family home

Posted on Thursday, February 22, 2018 - 15:27

A recent collaboration between Aussie and Corelogic that released data showing the ‘Most popular suburbs for families’, can save you from the mental stress of scrambling to find a home that is suitable for your growing family. The data shows that a family home is usually to be found near a CBD at an average of 30km. Families tend to look for housing that is affordable and convenient. Here are three things you can consider when looking for a family home.

Quick stats of top suburbs to raise family

If you are wondering which suburb in your region has been rated the top suburb to raise your family in, wonder no more. From their extensive report here are the top five suburbs that have been rated the most popular to raise a family in.

Suburb Distance from (GPO) Median house Value Median Unit Value  Average land area
West Hoxton
(Sydney-south west)
35.2% $893,273 $702,465 509 sqm
Horningsea Park
(Sydney-south west)
34.7% $837,132 $556,725 491 sqm
Roxburgh Park
(Melbourne-North west)
22.4% $550,847 $386,422 491 sqm
Prestons 
(Sydney-south west)
32.0% $797,743 $599,031 526 sqm
Burnsides Heights
(Melbourne-west)
21.5%
$603,418
$497,117 496 sqm
  • The top two suburbs boasted an average of 79% of households with children.
  • Units provide a lower entry point when compared with houses.
  • The closer a suburb is the less likely you will find households with children due to the cost of housing and density.

What type of parents is most likely to make a move?

It comes as no surprise that parents who have mini-me’s who are dependent on them are most likely to make a move to find a home that will accommodate their expanding family. According to the Australian Bureau of Statistics (ABS) 45% of parents in couple families with children who were dependent on them accounted for 45% of recent movers.

The older children become the less likely it is to make a move. When choosing a suburb that will raise your children you will have to consider one that you will be an investment until they leave the nest.

30% of parents with dependent children moved to a new house because they were looking for bigger or better homes. Finding the right neighbourhood is the first step, but the next big step will be to shop and compare home loans that will help you secure your new home.

Tips on what to look for when buying a family home

When on the quest to find your new home that will give you peace of mind and security it’s always best to keep these tips in mind:

  • Is the house close to important facilities such as good schools, hospitals, and easy access to public transport?
  • What are the noise levels like in the neighbourhood? It’s advisable that you go see the neighbourhood during the day and at night to get a feel of it. Also keep an eye out for the neighbour’s noise levels too.
  • Is there room to grow with additional rooms for future expansion of your family?
  • What does the neighbourhoods future look like? Remember that this contributes to the either adding or subtracting value to your home. You will have to search and ask if there are any renovations or new construction sites being planned.
  • Is it safe and secure to raise your family? You can view the local reports on crime rate statistics and view the surroundings.
  • Is the general population within the same age as you? Having people in the same age group as you can ensure that you have people who understand the need for a family community.
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