Most people will have some kind of idea of the area they want to buy in and the cost. However, it is still a useful exercise to go back to ‘square one’ and write down what you are looking for. This is especially important for couples to do, as well as groups of people buying property together, to ensure that you are all ‘reading off the same line’.

What are you looking for in a suburb?

Do you need easy access to the city, public transport, parks, beaches, cafes or entertainment facilities? What about a family-oriented suburb with large homes, a bushy setting or being close to family?

What can you afford? 

Identify which suburbs match the criteria you have identified above and find out how much properties cost in these suburbs (i.e. what is the average price for a house/unit/land in your short-listed suburbs?).

You can gauge the average price of property by talking with locals in the area, talking with real estate agents and keeping an eye on auction and sale prices published in your weekly newspaper and on the internet.

Once you’ve found out the average price of properties for different suburbs, you can eliminate the suburbs that exceed your price limit. Now you have a list of suburbs to focus on.