By Ramesh Kandel – Mortgage Broker & Director, Rayz Financial Services
Buying a property is a big step — whether it’s your first home, your dream upgrade, or a long-term investment. The right choice can set you up for years of financial growth and lifestyle enjoyment, while the wrong choice can cost you time, money, and peace of mind.
This guide will help you compare properties, assess value, and make sure your purchase is the right one for you — both emotionally and financially.
1. Location is Still King
When it comes to property value and future growth, location is one of the biggest factors. Look for:
- Proximity to essentials – Schools, shops, public transport, healthcare.
- Lifestyle appeal – Parks, cafes, beaches, or entertainment hubs.
- Future developments – Planned transport links, shopping precincts, or rezoning.
- Neighbourhood trends – Low vacancy rates, increasing demand, and quality amenities.
Rayz Tip: Even the perfect home can lose appeal if the area has poor infrastructure or declining demand.
2. Compare the Price to Recent Local Sales
Avoid overpaying by checking the property’s asking price against recent sales of similar properties nearby.
- Look for sales in the last 3–6 months for accuracy.
- Match similar property types, sizes, and features.
- Use property websites, council records, or agent-supplied data.
- Adjust for differences like renovations or extra features.
- Seek professional input — your broker or buyer’s agent can access valuation reports.
Rayz Tip: Use comparable sales to guide negotiations and avoid paying a premium.
3. Choose the Right Property Type
- House – More space and privacy, ideal for families.
- Townhouse – Balance of space and lower maintenance.
- Apartment – Lower entry cost, minimal upkeep, strata fees apply.
4. Condition & Ongoing Maintenance Costs
Always factor in upkeep and repair costs:
- Check roof, gutters, plumbing, and electrical systems.
- Older homes may require more ongoing maintenance.
- Pools, gardens, and large blocks add extra upkeep costs.
5. Affordability Beyond the Purchase Price
Consider long-term costs:
- Loan repayments – Allow for possible interest rate rises.
- Council rates, strata fees, and insurance.
- Utilities and ongoing upkeep.
6. Resale & Capital Growth Potential
Think about long-term value:
- Is the suburb in demand?
- Does the property have sought-after features?
- Avoid properties with drawbacks like flood risk or heavy traffic.
7. Legal & Zoning Checks
Before signing, confirm with your solicitor or conveyancer:
- Clear legal ownership and restrictions.
- Any easements or encumbrances.
- Zoning and planning rules.
8. Building and Pest Reports – Avoid Hidden Surprises
Arrange independent inspections to check:
- Building Report – Structure, roof, plumbing, wiring, drainage.
- Pest Report – Termites, borers, or infestations.
Rayz Tip: Attend inspections and get detailed reports with photos for clarity.
9. Balance Emotion with Practicality
Keep a checklist of must-haves and nice-to-haves. Compare options objectively to avoid emotional overspending.
Final Thoughts
The right property fits your lifestyle, budget, and growth potential. By comparing prices, checking the condition, and doing thorough due diligence, you’ll be in a strong position to buy with confidence.
At Rayz Financial Services, we help buyers secure the right finance, compare property values, and prepare for a smooth purchase — so you can enjoy your new property without unnecessary stress.
Disclaimer: This article is for general information only and does not take into account your personal circumstances. Always seek professional financial, legal, and property advice before purchasing.
📍 Get in Touch:
Ramesh Kandel
Mortgage Broker & Director – Rayz Financial Services
🌐 www.rayz.com.au
📧 ramesh@rayz.com.au
📞 0451 065 166 | 02 6106 9988
📍 Based in Canberra | Serving clients Australia-wide
