How to Buy in the Northern Beaches

Location and lifestyle

Sydney’s Northern Beaches LGA tops the ranking of the best places to live in Australia based on overall wellbeing. The index, measured against seven key indicators—economy, employment, income and wealth, equality and work-life balance, environment, health, and housing—shows why this area is so desirable.

The Northern Beaches, located northeast of the CBD, was one of eight Sydney local government areas that made it into the top 10 for overall wellbeing, according to a report by SGS Economics and Planning.

With more people working from home, established beachside suburbs in the Northern Beaches have become even more desirable. This area offers one of the best lifestyle and work-life balance opportunities in NSW, making it a natural choice for those seeking property.

Where should I live?

When choosing where to live, there are many things to consider. Some decisions are rational, but many are emotional. If you're buying as a couple, you'll likely have different priorities. Finding a middle ground is an excellent lesson in compromise. Think about how you want to live and how long you plan to stay. Do you want to be close to friends and good restaurants? How far are you willing to commute? If you have kids or plan to, are the schools and community you like?

Pick your community

Buying the worst house on a good street is wise. It's not just because the value will rise. Your community impacts you more than you think.

Explore new areas each weekend, grab a coffee, and enjoy the suburbs. Stroll the streets, soak up the sun, and get a feel for the community.

This fun activity provides insight into amenities, transport, features, green spaces, and schools. When it comes time for compromise, you’ll know what you value most.

Follow the sun

It's amazing what a bit of sun can do for even the most run-down property. Make sure you double-check the aspect of any house so you know where it gets the sun and what rooms will be the warmest.

Do your research

Talk to neighbours, run Google searches on the house, street and area, and check at night for street lighting and noise. Questions to ask yourself are:

• What is the neighbourhood like?
• Is it quiet at night?
• Is there much crime in the area?
• What happens when it rains?
• Are neighbours aware of any future development activity?

‍Stretching from Palm Beach to Manly, the Northern Beaches boast
more than half of Sydney's beaches and a population of more than 266,000.

CoreLogic Suburb Data

Zooming in on property data and comparable sales helps paint a clear picture of costs. Could you create a spreadsheet to compare properties and draw averages among them. Since banks value properties differently, we can match lenders to properties as one of our strategies. Below is a helpful link to CoreLogic that lets you browse market movements over a cup of tea.

CoreLogic Mapping the Market June 2024

Want to know more? Visit the learn section

What kind of property ownership should I get?

House: Typically has a roof, windows, and a door - all standard stuff but expensive.

Townhouse/Units: These are semi-attached and usually on a strata title. Banks may restrict lending to in larger developments.

Apartments: Increasingly popular with buyers due to low entry prices. They are also ideal for downsizers seeking smaller homes. Some banks are not lending on studios at all, so it's worth consulting us first if you're considering investing in a studio.

Know your numbers

Understanding your borrowing capacity as well as repayments is crucial. Banks use algorithms to assess clients, considering factors like age, marital status, and credit score. Being prepared and having finance and pre-approved loans will save a lot of time and potential heartache if you miss out on your dream property. Below are the key details, and we can place you in the market within 24 hours.

• Income
• Assets
• Expenditure
• Liabilities

A good mortgage broker helps you navigate this process and understand how it works. This allows you to plan and make any necessary lifestyle adjustments, like closing credit cards or completing employment probation, to improve your position and get you where you want to go.

30 Reasons why to use a mortgage broker

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In Summary

Knowing where you're going and staying on the right path takes time and effort. But the lifestyle on the Northern Beaches is incredible. You can surf in the morning and still make it to a 10 a.m. board meeting in the city.

Finance is a big piece of the puzzle, and having a great broker can help bring it all together and support you every step of the way.

Need help? Get in touch.

Want to know more? Visit the learn section