17 September 2020, By Endeavour Lotteries
Location, Position and Outlook: The Real Estate Trifecta
6 min read
We’ve heard it all before when it comes to buying real estate, “Location, location, location.”
But there might just be a reason that this real estate buzzword comes in threes.
Because, when you’re looking at the location of a property, you really do have to consider the ‘big three’:
Think about the location in terms of the suburb or area. Is it a nice suburb or maybe an ‘up-and-comer’?
Think about the property’s position within the suburb. Is it in a rare-as-hens-teeth spot like on top of a hill or close to the beach?
What’s the outlook from the property like? Does it have a breathtaking aspect like water views or a sweeping panoramic vista?
If you can actually find a rare property that ticks all three of these location boxes, you really have won the real estate trifecta.
But there’s a catch. Snagging one of these rare gems, is going to cost you. Properties that boast premium locations and outlooks understandably command premium prices.
Take Endeavour Foundation’s latest Prize Home for example. Endeavour’s Prize Home team scoured the Sunshine Coast for the perfect location, high on a sought-after slice of Caloundra’s Little Mountain with panoramic views of the southern end of the Sunshine Coast and the Pacific Ocean. Add being only 10 minutes from beautiful Kings Beach, and this stunning home ticks every box in the location stakes.
So, what price can you put on this location, location, location? Only a cool $1.3 million (including all of the designer furnishings and electrical appliances). That’s pretty good value all things considered. Especially when it equates to a $1,299,990 return on a $10 ticket in the Prize Home lottery.
How to find the perfect location, position and outlook.
“You can change the house, but you can’t change the location.”
That’s the old adage you’ll hear time and time again from real estate agents, and the truth is, they’re right.
With time and money, you can transform even the worst ‘renovate or detonate’ nightmare into your dream home.
But the location? Once you’ve made your choice, there’s no changing that. Which is why, it’s important to think long and hard about where you want to settle (or invest) before you sign on the dotted line.
Top Five Location Deciders
When comparing suburbs, there are a few things buyers typically consider:
Is the suburb you’re considering highly-regarded and sought-after? While this may be appealing, it will also mean you’ll pay a premium price. However, looking for ‘up and coming’ suburbs with ‘potential’ could give you the best of both worlds – a great price now and a greater return on investment when the suburb becomes more in demand.
Being able to walk to local cafés and shops is a big tick for many buyers. Choosing a suburb with a village heart is an instant value-add for your property.
Is the suburb you’re considering well connected to public transport? The proximity to a train station or bus service is a big one to consider, especially if you commute to work or are in the market for an investment property.
Having good schools (particularly high schools) in the area is a big plus for families and can add significant premium to property prices.
5. The Vibe
Every suburb has a personality. Sometimes it’s hard to put it into words, but ultimately, it’s all about the vibe. Sophisticated, elegant, edgy or down-to-earth. Does the suburb you’re looking at feel like a good fit? If the answer is yes, you may have found the perfect location for you.
Top Five Property Positions
Where a property sits within its area can add tens or even hundreds of thousands to its sale price. Even a north facing aspect can be a selling point and contribute to the value of a property.
Here’s our top five property positions for added market value:
Whether you’re talking about a family home on a hilltop or an inner-city apartment, the general rule is the higher, the better. With the potential for excellent views and an extra sense of space, it’s not surprising that a property with an elevated position often attracts an elevated price.
Just being close to the beach is always a winner, but a beachfront location really is the real estate jackpot. Which is why, you might need to win the jackpot to afford one.
While they might not command quite as much as beachfront, properties with a riverside or lakeside location as still highly sought-after – particularly for boaties.
Aside from the beautiful, leafy outlook and peaceful atmosphere, living next to, or near, a park can genuinely change your life. For many, having playgrounds, walking trails and sporting facilities right at your fingertips is well worth the premium you’ll pay for the location.
From the convenience point of view, being right in the thick of things is where it’s at. Whether a property is in the heart of the CBD or in the heart of the local village, a central location will add value.
Top Five Sought-After Outlooks
Views of the ocean are the crème de la crème when it comes prized property outlooks. Combine them with a panoramic vista like our Little Mountain Prize Home and you can tick off two of our top five outlooks.
There’s something about the mesmerising sparkle of water that makes any view overlooking water – like a river or lake – a big selling point. These views may not be quite as prized as ocean view properties, but you’ll still pay a premium none the less.
It’s amazing how a mountain view adds another dimension to your world and a few extra dollars to the price tag. Seeing the weather roll in over the ridge or watching clouds cast shadows on the mountainside is really something to be treasured.
Homes with uninterrupted outlooks like over parks, reserves or bushland are often quick to be snapped up. There’s nothing like knowing your view can’t be built out and it’s yours forever.
There’s nothing like that feeling of being on top of the world when you have a sweeping view before you. Properties with the sort of hilltop locations that panoramic views require don’t come along all that often, so don’t miss the opportunity when it comes.
Win the Location of Your Dreams Valued At $1.3 Million
Your best shot of getting your hands on the real estate trifecta – location, position and views – could be with a ticket in our Little Mountain Prize Home lottery.
Come and check it out in person to experience that ‘on top of the world’ feeling for yourself. Or if you’re already sold, buy your ticket now.
Take the Tour with Angie And Brandon
As the new Brand Ambassador for Endeavour Foundation, Angie was invited along for a sneak peek of the spectacular new $1.3 million Prize Home atop Little Mountain on the Sunshine Coast.
Watch Angie and Brandon’s full tour through the Prize Home here and see Angie talk about the reason behind her decision to support the Endeavour Foundation.