Which is more important when buying - location or land for PPOR properties?

Hi all,

Which is more important when buying a PPOR- location or land, if there are budget constraints ?

For example, if with a budget one can buy a house at location close to 120 mins away from CBD, but can buy Townhouse / Villas closer to CBD around 60 mins, which is the better option ? Also same question about Apartments.

Below are some considerations for me in terms of identifying which is important / better. Please add any other that are important to consider and those considerations that will be satisfied in this budget and the type of property that would satisfy the considerations (and to what extent).

1. Commute of 90 - 120 mins is ok but much prefer 60.
2. Resale-ability / Liquidity of the property
3. resale value - will it gain or at-least hold value.
4. Yard (at least a medium size)
5. capital gains (do the townhouses or villas have higher CG than apartments ?)
6. good Schools
8. good level of safety
9. higher percentage of owners living in the houses
10. fewer strata level constraints and maintenance expenses. Fewer common walls / areas.
11. Shopping (woolies, IGA, bunnings, westfield / mall, international groceries etc..)

Please let me know.

Thank you

 

If it's for a PPOR, then it just depends on your own preference.

 

1. It's not OK to commute 3-4 hours/day
2. Applies to all property
3. Don't buy new/in new estates to minimise loss on resale
4. Nice to have
5. Not necessarily
6. Schools change over time - you have no control over it (management changes/teachers leave or retire/wrong crowd moves into the area)
7. A must have
8. Not controllable
9. Makes no difference, high OO is good for a rental
10. Houses aren't generally subject to body corporate unless they're community titled
11. Are there shops 2 hrs away from the CBD?

 

Thank you Scott for the reply.

I thought Apartments and houses have better liquidity compared to Townhouses / Villas. Is that inaccurate ?

Are torrens titled houses subject to any such strata rules ? Or is torrens title same as free hold ?

Regards

 

No.

TT is the land registration system used in Oz which is guaranteed tithe Crown. Freehold is not a titling system, it's just an indicator of the degree of ownership eg freehold vs leasehold interest.

 

I am in a similar dilemna at the moment.