Buying property is a significant decision that involves balancing three critical factors: area, type, and price. Together, these form what we like to call the ‘Property Buying Triangle’. Each of these factors plays a vital role in determining the suitability and value of the property.

1. Area

The area, or location, of a property is one consideration. It influences not only the current lifestyle but also the long-term value and potential appreciation of the property. Key aspects to consider include:

Neighbourhood: The safety, reputation, and amenities of the neighbourhood are important. A good neighbourhood typically has low crime rates, well-maintained public spaces, and access to essential services such as schools, hospitals, and shopping centres.

Proximity: The property’s distance from workplaces, schools, and other daily destinations can significantly impact daily commute times and convenience.

Future Development: Areas with planned infrastructure improvements or new business developments may see an increase in property values. Conversely, areas with uncertain futures may pose a higher risk.

Environmental Factors: The area’s climate, susceptibility to natural disasters, and overall environmental quality can affect liveability and property value.

2. Type

The type of property refers to the specific characteristics and intended use of the property. This includes considerations such as:

House or Unit: Houses offer privacy and space but may be more expensive and require more maintenance. Units can provide high rental income, and may involve managing tenants and shared spaces.

New or Existing: New constructions often come with modern amenities and fewer immediate repairs but may be more expensive. Existing properties might offer better value but could require expensive renovations and updates.

Size and Layout: The number of bedrooms, bathrooms, and overall square footage. Open floor plans, outdoor spaces, and specific features like garages or basements.

3. Price

Price is a fundamental factor that affects affordability and financing options. It encompasses:

Budget: Buyers need to assess their financial situation, including savings, income, and debt, to determine a realistic budget. Overstretching finances can lead to long-term financial strain.

Market Conditions: The real estate market can fluctuate, affecting property prices. Understanding whether it’s a buyer’s or seller’s market can help in negotiating a better deal.

Financing Options: Interest rates, mortgage terms, and available loan products impact the overall cost of purchasing a property. Buyers should shop around for the best financing options and consider the long-term implications of their mortgage.

Additional Costs: Beyond the purchase price, buyers must consider closing costs, property taxes, insurance, maintenance, and solicitor fees. These additional expenses can significantly affect the overall affordability of the property.

Balancing the Three Factors

Balancing these factors requires careful consideration and often involves compromise. For instance, a buyer might need to choose between a smaller home in a desirable area or a larger home in a less ideal location. Similarly, they may need to decide between a higher-priced property with all desired features or a more affordable one that requires some compromises. Strategic planning and prioritising needs and wants can help buyers make informed decisions that align with their lifestyle, future goals, and financial capacity.


Think of property as an investment. The one within your budget may not always be perfect, but its value will grow. When it does, you can use the equity to upgrade and, in many cases, move closer to owning your dream home or the lifestyle you desire. Balancing the property triangle requires careful consideration and strategic choices. By understanding and navigating the trade-offs, you can make decisions that serve your long-term goals.