Applying the five senses: buying a property is about more than good taste

When searching for the perfect investment property, most people focus on the numbers—rental yield, capital growth, depreciation and maintenance costs.

But beyond the spreadsheets and statistics lies a set of tools every investor already possesses- the five human senses.

Sight, sound, smell, touch, and even taste can tell you a lot about a property and its long-term potential, often revealing issues or opportunities a report can’t fully capture.

Learning how to use all your senses when buying property will help you to make better informed decisions and set you ahead.

Sight: what you can see might save you thousands

The most obvious of the senses, sight allows you to visually assess the condition of a property. It’s your first line of defence against buying a disaster disguised as a great investment.

What to look for:

• Mould and dampness: visible mould on ceilings, in corners, or behind furniture is a red flag. Discoloured paint, bubbling on walls, or dark stains near skirting boards often indicate water damage.
• Structural cracks: fine hairline cracks are common, but deep, wide, or jagged cracks in walls, ceilings, or foundations can be a sign of structural issues.
• Water damage: brown stains on the ceiling, warped skirting boards, or rotting timber around windows and doors all suggest historical or ongoing water issues.
• Poor renovations: sloppy paintwork, uneven tiling, or mismatched fittings may suggest DIY renovations, which could lead to costly fixes down the line.
• Pests: look for mud trails, timber shavings, or holes in walls that could indicate termite activity.
• Roof condition: if accessible, inspect the roofline for sagging or rusted gutters. From the street, check for missing tiles or signs of patchwork repairs, including along the fence lines.

Building and pest inspections

To mitigate your risks, hire a professional building and pest inspection, because not even the most experienced investor can see what’s lurking behind the walls or in the ceiling cavity.

An independent building and pest report can identify hidden problems like termite infestations, foundation issues, or roof damage. They come at little cost considering the assurance they can provide and if any issues are uncovered, they can prove to be valuable negotiation leverage to save you thousands on the purchase price.

Hearing: listen for issues that can impact returns

Real estate agents and property managers won’t typically mention the surrounding environmental noise. That’s where your ears will come in.

What to listen for:

• Traffic noise: stand in the front and back yards at different times of the day. Is the property near a major road, intersection, or railway? Constant traffic can affect both rental desirability and resale value. The most valuable properties will be avoiding traffic noise and in quiet leafy streets.
• Aircraft noise: properties near airports or under flight paths will suffer from regular noise that tenants find disruptive. Unfortunately, like in Sydney, the suburbs that are desirable and close to the CBD may also be under flight paths, damaging the property’s worth. This could also hinder the capital growth of the property, particularly if sound proofing is not adequate in the property.
• Construction: new developments in the area may seem like a good sign of growth, but the noise from ongoing construction can deter tenants and lower short-term rental appeal.
  If you do hear local construction noises, it is wise to investigate what the construction is for. Short term construction of a new hospital or upgrades to schools, etc may be beneficial for the long term but on the flip side, construction of new roads might impact the property and future growth.
• Neighbourhood sounds: barking dogs, noisy neighbours, and regular parties are red flags for future tenant dissatisfaction. Visit on weekends or after work hours for a more realistic sound check.

Why sound matters

Properties located on noisy streets or with loud neighbours are harder to rent out and may attract higher tenant turnover and vacant periods. Short-term pain like nearby construction can sometimes be outweighed by long-term gains, but persistent noise issues can drag down long-term rental yields and capital growth.

Touch: a hands-on approach to due diligence

It might sound odd, but physically touching and interacting with the property can tell you a lot about its condition and suitability, especially if you’re inspecting during open homes when you only have a limited time to get the full picture.

What to touch:

• Pipes and fixtures: feel under sinks, behind toilets, and around outdoor taps for dampness or leaks. Dripping taps and soft cabinetry under the sink are signs of water issues.
• Windows and doors: do they open smoothly or stick? Difficult-to-open doors can suggest shifting foundations or poor insulation.
• Walls and floors: run your hand along walls—do they feel cold or damp? Uneven or bouncy floorboards may indicate issues with stumps or sub-floor structure.
• Temperature: how does the home feel? Is it cool and drafty in winter, or baking hot in summer? In southern states, inadequate heating can deter renters. In northern areas like Queensland, a lack of ceiling fans or air conditioning is a dealbreaker for tenants. If your property doesn’t have adequate heating or cooling, this may be an additional cost to get tenants into the property.

Consider the climate

In tropical regions like Queensland, air conditioning and ceiling fans are not just luxuries—they’re essential. A hot and humid property without adequate cooling will have longer vacancy periods and more tenant complaints. The same applies in colder areas where insufficient heating impacts tenant comfort. Property buyers and sellers alike also stand to save potentially big dollars if they time their property purchase right in relation to the seasons.

Smell: the invisible clues that point to big problems

While it might be more subtle than sight or sound, your sense of smell can pick up on issues you can’t yet see.

What to smell for:

• Mould and mustiness: a musty smell in bathrooms, laundries, or under-sink areas often indicates poor ventilation and could be a sign to check for hidden mould behind the walls or ceilings.
• Dampness: damp carpets or underfloor smells can be the result of rising damp, leaks or inadequate drainage.
• Pest droppings or pet odours: strong animal odours or urine smells may be hard to eliminate and can put off prospective tenants.
• Air fresheners: if the property is overly perfumed or every room has a scented diffuser, it could be masking underlying odours. This is often used in properties that have had heavy smoking indoors that the carpets and walls have soaked up hard-to-remove smoke and tobacco smells.

Why smell matters

A mouldy or damp smell isn’t just unpleasant—it’s potentially dangerous and expensive. Properties with long-term damp or hidden mould problems may require full wall replacements, plumbing fixes, or professional cleaning, which can run into the tens of thousands. Tenants can be very sensitive to these issues, and mould-related health complaints can lead to legal troubles for landlords.

Taste: Lifestyle signals and the 'flavour' of a suburb

You can’t exactly lick the walls, but taste comes into play when evaluating the culture, vibe and lifestyle offerings of a suburb. The cafes, restaurants, markets, and boutique shops nearby all contribute to a location’s appeal—especially in areas going through gentrification.

Why taste matters:

• Desirable lifestyle equals higher rents: areas with quality cafes, good coffee, wine bars, and trendy restaurants tend to attract professional tenants willing to pay more for convenience and lifestyle.
• Gentrification indicators: suburbs that were once overlooked but are now attracting young families, creatives or entrepreneurs often see a steady increase in property prices and rental demand and can indicate strong capital growth for the future.
• Walkability and food culture: being able to walk to grab a coffee or dine out on a Friday night adds significant value to an investment property, especially in inner-city areas and emerging lifestyle suburbs.

Examples of tasteful suburbs

• Brunswick (Vic): once gritty, now filled with coffee roasters and vegan eateries, this suburb has seen sharp property price growth.
• Newtown (NSW): known for its bohemian vibe and thriving food scene, Newtown has become a magnet for tenants who value culture.
• Paddington (Qld): a historic suburb that’s evolved into a brunch-lover’s paradise—property values have soared along with its café culture.
• Maylands (WA): an established suburb on the city train line that has turned into an entertainment destination suburb, where house have risen 20-30 per cent in the past two years.

Trust your senses as much as the data

While spreadsheets, reports, and professional advice are critical tools for any property investor, don’t underestimate the value of your five senses when inspecting a potential investment.

By integrating sensory observations with objective data and professional inspections, you’ll be better positioned to choose a high-performing property that not only grows in value but also attracts and retains quality tenants.