Making the Right Move for the Future
Buying a home isn’t just about what works now; it’s about making sure you buy the best home that will keep on working for you for the next several years. Getting it right now can prevent you from having to move, spend more than you should, or live in a home that doesn’t suit you.
This is why Future Habitat assists families when they have to make a decision about where they should move next and how they can buy the best home for their needs into the future. Should they keep on staying in the same area, or should they buy a bigger house in a different area? Many love their current area but think they will be moving back in 5 years. However, that approach can cause more stress and costs.
We specialise in assisting our clients in buying the right home that will address their current and future needs.
The following is an example of how we assisted a family to select the right home that would address their needs and long term goals. How? Let’s look at the key factors that can assist you in future-proofing your next home purchase.
Key Takeaways
✔ Think Beyond Today. Plan for the Long Term
Choose a home that will still suit your needs in 5–10 years. Avoid unnecessary moves and extra costs by planning ahead.
✔ Weigh the Trade-Offs Between Location and Budget
Staying in a prime suburb may mean sacrificing space, while moving further out can offer better value. Decide what matters most.
✔ Factor in Future Market Trends and Costs
Property prices are rising, so waiting could mean paying significantly more. Multiple moves also come with costs like stamp duty and selling expenses.
✔ Buy the Best Home for Both Your Present and Future
The right home balances budget, lifestyle, and long-term goals. A smart choice today sets you up for success in the years ahead.
CASE STUDY: A Young Family Renting in Naremburn
The Naremburn Dilemma: The Cost of Staying vs. The Cost of Moving
Naremburn had all that this young family wanted: It was close to family, had great amenities, and was an easy commute to work. It appeared to be the perfect place to live. But as they started to look around the market, they were faced with a tough question: Should they spend more to buy in Naremburn or try some other area?
The Appeal of Naremburn
Naremburn is a popular suburb that provides a village atmosphere with parks, cafes, and proximity to quality childcare. It is a favourite among families for the lifestyle it offers, especially for those with young children. However, high property prices are inevitable due to high demand, and getting a large family home is not cheap.
The Reality Check
The family didn’t have enough money in their budget to comfortably buy a house with a good sized yard in Naremburn. They could have tried for a smaller home or a townhouse, but this made them worry about long-term suitability. Would there be enough space as their children got older? Would they have to move again in 5 years? If they had to stay in Naremburn, then they could have tried to make some compromises. Some people might consider giving up a bit of space or exploring different types of homes.
Future-Proofing the Decision
QUESTION: Would buying now and staying in Naremburn mean having to move again in five years? This being Sydney, the five years is less than the average home turnover rate, which means that this may lead to incurring expenses such as selling costs, stamp duty and the inconvenience of moving again.
Expanding the Search: Exploring Other Areas
When this young family was faced with the challenge of buying the best home for them in Naremburn, they also considered expanding their search to nearby suburbs such as Chatswood, Roseville Chase, and Lane Cove. Each of these suburbs has great amenities, great schools and easy access to the city, which makes them equally attractive. However, as always happens in any property search, the budget and tradeoffs cannot be ignored.
The Comparison
Chatswood, which is a shopping and transport hub, is convenient, but the family-friendly homes are expensive. Roseville Chase provides a more tranquil environment with a lot of trees, but you might have to spend more for a house with a good backyard size. Lane Cove has a lovely community life and well-equipped parks; therefore, competition remains high.
Going Beyond the Search Area to Buy the Best Home
Expanding the search a bit could help to get more housing choices, but it also brought some issues:
Budget Stretch: The other areas were similarly priced. It might be possible to get a smaller house or a house that needs a lot of work to stay within the same price bracket.
Financial Strain: Expanding beyond the scope could affect financial well-being and cause stress in the future.
Compromise on Lifestyle: Moving away from family or transport hubs may mean a reduction in the convenience of daily life.
Future-Proofing the Decision
This family could not commit to a new area without asking one important QUESTION: Are you sure you will be able to live in these areas if prices keep on rising? Buying a home should not only be about how well it can suit your needs at the present time; it should be a long-term decision.
Thinking Long-Term: The Thornleigh/Normanhurst Strategy
Heading a little further north to Thornleigh or Normanhurst can be quite a wise long term plan for families who have a challenge with budget, space and location. Even if it means changing the mindset regarding the travel time to the city, it also gives a chance to buy the ideal home that will provide more space, better value for money and a style of life that will be convenient for a family with children.
Bigger Homes, Better Value
Thornleigh and Normanhurst are not as congested as the suburbs of Naremburn, Chatswood or Lane Cove, which offer family homes with more space and a larger piece of land. This means:
* A place for a growing family. Larger backyards, more bedrooms, and separate play areas.
* A quiet and family oriented environment with low density and more green belts.
* Proximity to high-quality schools, including some selective and private schools.
To many families, these are advantages that are more valuable than the location convenience.
The Commute Tradeoff
It may not be the perfect situation to have a longer commute right now, but it might be more beneficial in the long run from the financial and lifestyle standpoint. Improved transport systems, including train lines with direct links to the city, make the additional travel time bearable. More importantly, being able to get a house that is fit for a family’s needs may lead to a happier life in the long run.
Future Proofing the Decision
The main QUESTION here is: Will you be better off in the future with the home you are buying now?
When looking at the overall picture, it is clear that many families discover that moving to Thornleigh or Normanhurst offers them a stable financial future and a healthy environment in which to grow, thus making a decision that will stand the test of time when it comes to home buying.
The Middle Ground: Forestville as a Stepping Stone
Forestville is in a good position to provide the perfect middle ground for families who are still trying to find the right amount of space, the right price, and the right location. It has larger homes, good access to the city and is fairly close to the beaches of the Northern Beaches, and so is the choice of many families as their next home before they finally settle down.
Affordability Meets Lifestyle
Forestville is not one of those suburbs where you have to pay through the nose for a small house in a noisy and crowded area, yet it is a nice place to live. Some advantages are:
* Spacious houses with private yards are an asset for children and families with multiple children.
* Proximity to nature – Garigal National Park and the beaches are only a short drive away.
* Easy city and beach access – There are direct bus routes and links to major business districts and beaches.
It is, therefore, a rational decision that many people make between cost and quality of life.
School Considerations
This is one area that you need to think about very carefully. Forestville has excellent local primary and public high schools, but if you are thinking of enrolling your child in a private or selective school, you will have to think carefully about your location and access to school transport. Some use Forestville as a temporary home until the children reach high school and then review their location with regard to school requirements.
Future-Proofing the Decision
The main QUESTION is: Will this move enable you to have the ideal standard of living and financial freedom?
Forestville is a perfect place for many families to find a good home and still have a lot of choices for the future. If done correctly, it can be a perfect way to buy the best home without having to spend a lot of money on the purchase of a property in more desirable areas.
Key Considerations When Future-Proofing Your Home Purchase
Buying a home is more than just a financial decision—it’s about securing stability for the long term. If you want to buy the best home, it’s crucial to look beyond what works today and consider how your choice will serve you in the future. Here are five key factors to keep in mind when future-proofing your home purchase.
Future Market Movements
Sydney property prices continue to rise, and waiting too long could mean being priced out of your ideal location. Consider the past five years of growth:
- Naremburn +64% (Potential median price: $5.34M in 5 years)
- Forestville +59% (Potential median price: $3.68M in 5 years)
- Normanhurst +72% (Potential median price: $3.1M in 5 years)
🔍 Future-Proofing Question: Will your choice today allow you to move where you ultimately want to be?
The Stamp Duty Trap
A $2.7M home today comes with a $130,000 stamp duty bill. If you need to upgrade later, a $4.3M home could mean $230,000+ in stamp duty—money that could be invested elsewhere.
🔍 Future-Proofing Question: Is it financially smarter to buy your ‘final home’ now rather than move twice?
Future Earning Capacity
If prices rise another 60%, the gap between buying in Naremburn later vs. an affordable suburb now could be over $1M.
🔍 Future-Proofing Question: Will your future earnings allow for a significant price jump if you delay the move?
Real Estate is a Long-Term Game
Historically, holding property for 7–10 years is the best way to ride out market fluctuations and build equity.
🔍 Future-Proofing Question: Will your next home serve you well for at least 7–10 years?
Community and Lifestyle Considerations
A move means building new friendships, settling into schools, and adjusting your lifestyle. Consider the emotional and social impact if you plan to move again soon.
🔍 Future-Proofing Question: Are you comfortable building a community you may need to leave again?
Making a well-planned decision now ensures you buy the best home that meets your needs today and in the future.
Conclusion: The Smartest Move for Your Future
It is not only about satisfying the present needs when future-proofing your home purchase. It is for long-term success. When you take time to think about affordability, location, future market trends, and lifestyle changes, you can make a decision that will benefit you in the future and not just the next few years.
You may decide to stay in a high-demand area with a smaller home, or you may decide to move further out for better value, or you may decide to take a strategic stepping-stone approach, but the goal is to buy the best home that will suit your current lifestyle and future aspirations.
When working with Future Habitat, you are assisted in making informed, future-oriented home buying decisions that will meet your future needs. With expert guidance and market insight, you will buy the best home that will serve you well today and for many years to come.
Can we help find a home you’ll love now and in the future?
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Disclaimer: The content of this article is intended for informational purposes only and should not be considered financial or real estate advice. Readers are encouraged to consult with professionals for specific guidance tailored to their personal circumstances before making any property purchase decisions.