Walk the block and meet your neighbours!

As a buyers agency, we've developed a comprehensive checklist for inspecting properties. Our agents use this to ensure our clients get a comprehensive opinion and anything identified is brought to their attention.

As you can imagine, there is a wide array of topics covered on our checklist and if I were to brain-storm this with you, we'd have many items. Here's the last item on my list that I find invaluable and should be yours... "Go for a walk!"

That's right, go for a walk and meet your new neighbours. At this point, you will find out things you didn't know about the property, the mood in the neighbourhood and any potential misgivings about living there.

You see, you can (and should) do all your research and ensure the numbers are right. You should check to see that it has the right amount of space, shade, natural light, air-flow, fittings, etc. It should offer a good return on investment and be in a strong capital growth area (for our investors), ... whatever the property needs to meet your purchase objective.

However, when we buy a house, it's not the building and land we're really buying, it's a living experience. If that experience is made to feel like hell-on-earth due to high levels of friction in the neighbourhood, then it's unlikely to be a good deal.

After I've inspected a property inside and out, it's also part of my inspection routine to include a lap around the block. I introduce myself to the neighbours and politely ask them a few questions. It's amazing what they'll tell you!

During my walks over the years, I've heard many interesting stories:
- who has an Apprehended Violence Order (AVO) against who
- various types of neighbourhood conflict
- all sorts of questionably legal activities ("herb" gardens, frequently visiting customers of "herb" gardens, etc)
- what happens in the local park across the road

- the meddling retired lady, who visits everyone at least daily
- the rock band or Playstation enthusiasts, who practice until 3am most nights of the week
- how much people are paying as tenants
- planned (but not registered) renovation and development activity

Don't forget, this information is also highly relevant for property investors. Bad neighbourhoods will have an impact on your tenancy retention and ultimately, the return and value of your property.

About 10% of the time, this 'street intelligence' has resulted in us crossing a property off the list. Sometimes, it can reveal an opportunity you weren't aware of or give you the confidence that your new neighbours are likely to welcome you into the area. As an additional benefit, if you do buy the property, you'll already know some of your new neighbours!!

Happy hunting!