Buying a house is usually the most expensive purchase of a lifetime and the decision about where to buy has far reaching effects on family life. It affects the time it will take for parents to get to work and therefore influences child- minding requirements. It affects the distance children must travel to school, and how they will get there. It affects access to extended family and friends, shops, and entertainment and leisure facilities.
In spite of these important points how often does one hear that a house was bought because it was in an expensive suburb but was the worst house in the street and therefore the re-sell potential will be great
. People say they bought a house because they fell in love with the bathroom!
(or the kitchen or the en-suite).
We have all heard the real estate industry tell us that the three things that matter are location, location, and location. One could agree but for different reasons than those usually given by the salesperson (prestige, capital gains etc).
Perhaps in the age of declining oil and global warming, prospective house buyers might do better to think about the answers to the following questions:
Is it close to friends and/or family (the people you visit on a regular basis)?
Is it within walking distance of schools, workplace, shops or public transport (to get you to and from those facilities)?
If not, how much will it cost in time, fuel, health, dollars and frustration for family members to get to where they need to go, collect the babysitter, or to visit friends and family?
Do you want to spend the next fifteen years as a part- time taxi driver for your children, ferrying them to and from school and other activities? Do you want to spend ten or more hours each week driving in peak hour traffic to get to and from work?
Living close to where you and your family work, study, and play can have a big effect on your lifestyle. Consider how much easier it would be if the children could walk or cycle to school and you could walk or cycle to work? Or think of the pleasure of not driving in the rush hour but instead, catching a train or bus and reading a book on the journey. Think of the improved health of family members, the reduction in greenhouse gas emissions from not using the car, and the huge cost savings.
Location aside, there are many other considerations if buyers want to save on future expenditure and reduce their contribution to global warming.
What are the building materials? Does it contain asbestos, formaldehyde or PVC, all of which can be harmful to health.
Do neighbouring buildings or vegetation overshadow the house preventing winter sunlight from entering? Do the rooms need artificial lighting during the day?
Is the house advertised as having a fully ducted reverse cycle airconditioner? If it does, you might want to know what the problems are with summer cooling? Is it because there is too much un-shaded glass, or inadequate insulation?
If you had to remedy these situations how much would it cost in time and money?
Look for features which will give you a comfortable home without using huge amounts of electricity. Perhaps buyers should start asking to see the last year's electricity bills for a house for sale, to get an idea of what it might cost in order to maintain it at comfortable temperatures.
Look for northerly solar access with eaves and shading and note how east and west windows are shaded. Do rooms have cross ventilation to benefit from cooling summer breezes? Is there insulation in walls and roof spaces? Does the house have ceiling fans in all rooms? Is there a solar hot water service or photovoltaic electricity panels? How is the house heated in winter? Are shower heads low-flow, triple A rated, and is the toilet dual flush?
Outside, is there a thirsty lawn or well mulched beds of native plants? Is there a rainwater tank plumbed into the house?
If these features are not there but the location is right, find out what it would cost to make the changes and what government rebates would be available.
As a way of influencing the real estate industry, try asking these questions of the agent selling the house so that they become more aware of what future buyers will be looking for.
And, if you cannot help worrying about capital gains, just remember that in the future, an energy and water efficient house might be the one in greatest demand!