Buying a house in Sydney can be challenging for many reasons. This guide will help you identify a good property quickly and give you the confidence to ignore the unsuitable ones.
Resort House — Sold $5.9M 2018
The guide is in 5 basic parts and includes a checklist that you can use for each property you assess. This is more of a beginners guide, so it does not use jargon or be too technical.
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To decide between an apartment or a house you first need to know why you’re buying a property in the first place. Is it an investment? Are you trying to maximise your capital return or you are trying to bring in as much rent as possible? If you’re buying a home, will an apartment suit your lifestyle needs better than a big house with a backyard to maintain? And your financial position affects your choice as well.
Whatever you choose, we’ve outlined the issues you need to consider and the benefits and drawbacks of both houses and apartments.
Are you thinking about buying a house in Australia? While renting is perfect for many students and short-term residents, owning your own home could be a great investment in your future. In fact, if youre in a secure financial position, buying a house can be surprisingly affordable. Plus, your property becomes an asset as soon as you purchase it. In saying that, buying a house is a serious financial commitment. Here are the most important things to consider before getting started.
Maybe you have managed to build up your savings, or your parents want to give or lend you the money to buy a house. If that’s not the case, youll need to look at your options for securing finance through a home loan.
A mortgage secures a loan from a bank or lender that helps you pay for the home. You pay off your mortgage in regular instalments until your home has been paid off, with the understanding that the bank or lender can take back your home if you fail to repay your loan. The size of the loan that you take out will depend on your current savings and how much you can afford to repay in the future, as well as the value of the property you wish to purchase.
Thinking of investing in property in Australia, buying a holiday home or perhaps even moving there? It’s a popular place to invest, with a stable property market and consistent growth performance¹.
There are a few important things you need to know as a foreigner buying property in Australia. We’ll cover all of the essentials right here in this handy guide, including the buying process, the different rules for foreigners compared to locals and where to find your dream property.
Crucially, we’ll also look at how to get your money over to Australia, without losing a small fortune in transfer fees and currency conversion costs.
White sand beaches, year-round sunshine… you’ve fallen in love with Australia and you want to call it home. Now what should you do before you make the move of a lifetime?
Even if you have a good understanding of the property market in the UK, you might find that things aren’t done the same way abroad. Here’s our step-by-step guide on who to speak to and what to consider when buying a house in Australia.
Before you start the search for your dream home in Australia, the first step is to apply for the right type of visa for you. There are various kinds available depending on your circumstances – from three-month tourist and working visas, through to retiree visas.
So you have made the decision – you are firmly in the market to buy a property – a new apartment in Melbourne! This is probably one of the most exciting moments in your life, and quite possibly one of the scariest too, but with the right planning and approach, this will be a decision you’ll never regret.
To help you manage things a little easier we’ve put together this useful guide for first-time buyers of Melbourne apartments, which should provide a decent structure to guide your search.
No matter what your own opinion is you need to convince a lender that you can borrow the cash you need to make this first purchase. Unless you happen to have enough cash to buy an apartment outright you will need a mortgage of some kind, and it’s always worth doing plenty of research before committing as lenders can vary quite dramatically on who they will lend to, and how much they will lend.
Australian home prices are up sharply since 2000 but it looks like the tide is turning. Home prices nationally have fallen slightly from last summer and Sydney is down 4.5%.
I have a bit of real estate bubble PTSD after living through the Phoenix real estate bust when home prices fell by 60% and in some of the poorest zip codes by 80%. During the boom, I knew home prices were crazy high but I never imagined they would fall so I was caught completely off guard by the multi-year train wreck in home prices. Ever since then I’ve been trying to figure out what the heck happened and how real estate bubbles work.
Hopefully, Sydney and Melbourne won’t see those types of home price declines but it looks likely they’re in for some big falls over the next several years.
The flexible, mortgage-free lifestyle that comes with renting is an appealing option for some, but for others, the secure feeling of owning a home is invaluable. You certainly know which one is right for you, but what about other Aussies?
Find out all about the latest trends and housing statistics in Australia, the housing market, the demographics of first home buyers, the cities with the highest and lowest rents, and much more.
(Australian Institute of Family Studies)
In this article, we discuss some of the best places to invest in real estate. Real estate remains an appealing asset class for investors because of the opportunity to earn recurrent income from rentals. If the market dynamics are optimal, your monthly rental income can fully offset the expenses associated with servicing your mortgage. Interest rates remain low and so debt is still cheap. Record-low mortgage rates and shortage of inventory have kept the US housing market strong concerning buyer demand. Strong housing demand pushed by the pandemic is driving prices insane.
As of now it the US housing market remains a hot seller’s real estate market, with annual price growth reaching record highs and inventory continuing to fall. Because it’s a seller’s market, expect a bidding war if you’re looking for a new house in 2022. If you are an investor, you must crunch the numbers to determine the best cities to invest in real estate in 2022. During the pandemic, prospective homebuyers around the United States are paying top dollar for homes, with remote employees and their desire for more lavish homes fueling the market.
And, while home values in the United States are expected to rise by only 2.9 percent in 2022 (compared to 19.8 percent in 2021), buyers will continue to face a seller’s market, according to Realtor.com. For as long as there is a lack of homes for sale , the balance of would-be owners unable to find affordable entry-level housing will be predisposed to transition into single-family rentals. That means rental demand will continue to increase in 2022.
Home sales will drop, the housing shortage could become the worst in U.S. history, and home values will shrink in some cities. Thats the 2020 forecast from realtor.com, which holds one of the largest databases of housing statistics available.
Sales of existing homes will fall 1.8% from 2019, according to the forecast. Home prices will flatten nationally, increasing just 0.8% annually, but prices will fall in a quarter of the 100 largest metropolitan markets, including Chicago, Dallas, Las Vegas, Miami, St. Louis, Detroit and San Francisco.
It is a seemingly contrary assessment, given the current strength of the economy and of homebuyer demand, but the dynamics of this housing market are unlike any other — the result of a housing crash unlike any other.