Where you choose to buy your new home will depend on factors that include the following:
Are You Going to Live in It or Rent It Out?
If you are buying a home to live in it you should be more critical in terms of its location. As an owner occupier you may want to be close to friends, relatives and your place of work. Depending on your marital status or the age of your child (or children) proximity to child care facilities or good schools could be an important factor in your choice of location. If you are single and frequently eat out you would want to be close to restaurants and other eateries with a good mix of tasty and reasonably priced food.
Even if you are renting it out, you should still look for a location which ticks most of the boxes. Afterall, potential tenants would also have similar considerations as you do.
Do You Prefer to Live in a Landed Property or in an Apartment?
Unfortunately, most affordable landed properties (such as House & Land packages) are located in the outer parts of Melbourne in relatively new housing estates with limited amenities. But if you really prefer to live in a landed property and can only afford one of the affordable House & Land packages, then you will have to be prepared to live in one of the outer suburbs.
If you prefer an inner suburban lifestyle close to a variety of facilities and can live comfortably in a relatively smaller living area, then an apartment is the way to go. When choosing a unit in an apartment complex higher floors with good views and a position that is not too close or not too far from the lifts should be your preferred choice.
Are you Uncomfortable Catching Public Transport to Work Instead of Driving?
If you choose to drive to work, you would want to live in an area with easy access to the freeway entrance and exit.
Are you an Outdoors or an Urban Person?
The Outdoors type feels more at home close to parks, open spaces, a creek, a bike or jogging trail instead of being in a concrete jungle surrounded by busy streets and crowded places. Urbanites on the hand feel at home in fully developed areas.
How is the Neighbourhood Character?
For a House & Land package, one where the general neighbourhood still comprises large tracts of vacant land is less desirable than one in a rapidly developing new master planned estate. What if the property is in an established area surrounded by older homes? For an apartment, do you mind if the street level entrance of the building is on a busy main road?