Buying a home comes with lots of excitement. Undoubtedly, Australia’s housing market is booming, and new house designs crop up each day. Whether seeking a house in Sydney, Melbourne, or Brisbane, owning a home in Australia is a wise investment decision and comes with numerous gains.
1. Amazing views
Australia attracts tourists from all parts of the globe and is famous for its stunning view. If you love watching magnificent sceneries from your balcony, this is the best place to invest. However, different cities offer different experiences, and it’s wise to view properties in various locations before making a selection.
For instance, Wallan real estate properties allow you to enjoy the gorgeous sights of the Wallara waters. Meanwhile, a property in Point Piper real estate is located near the coast and offers magnificient views of the ocean. In Sydney, you’ll be lucky to have a view of the famous Sydney Opera house from different paces. Similarly, a home in Gold coast allows you to access most of the magnificent attractions with ease.
2. Less stringent laws for foreigners
In most countries, owning property as a foreigner involves various regulations. BUT this isn’t the case with Australia. The government has strong policies for property ownership but allows foreigners to own homes. For instance, you can buy a newly-built home even if you don’t plan to live there full-time. You can also invest in new properties if you have FIRB (Foreign Investment Review Board) approval.
The legalities of buying and selling a home can be discussed with conveyancing Brisbane to find the right solution for your dream home. Although the laws are less strict for foreigners, there may be a few key points that you would still need to discuss with a conveyancer.
3. Appreciation
Housing values keep on appreciating, and Australia is no exception. You can choose to live in the property and sell it later on for a profit. Moreover, if you buy a home requiring minimal maintenance, you’ll save a lot on repairs and can still undertake some improvements to raise the property’s value.
That said, ensure that you know the value of your home before and after the improvements to see the return on your investment. Additionally, it would give potential buyers a good idea of the kind of improvements you have made to the home as well.
4. Strong real estate market
According to a Commonwealth bank forecast, Australia’s property prices are expected to rise by about 16% in the next two years. If seeking to buy a home and sell it later on, then there’s no better time to do this. The real estate market is booming, and the country is experiencing a sharp uptrend, especially in Sydney and Melbourne.
Stay on top of the fluctuating trends by requesting information from local real estate offices or conveyancers in the area of interest. They will always have advice on when to buy and when to sell no matter where the market is currently positioned. Their expert advice would be invaluable for homeowners.
5. Market stability
I presume you’re aware of the US real estate crash of 2008 that affected housing prices and investors alike. Most countries suffered the bust, but the Australian government managed the situation and stayed afloat.
Some of the significant decisions that the country made during the time were to offer high grants for first-time home buyers and also increased grants significantly. If a housing crisis is your major concern, it would be prudent to invest in Australia.
6. Pride of ownership
This is yet another reason to own a home. With your own Australian home, your choices are limitless. You can choose the interior décor, paint color, permanent fixtures and adorn your space as per your taste and preferences. Owning a home also secures your family’s future and gives you a sense of stability.
With the wide array of houses available in Australia, there is bound to be one that would proudly be called your home. Buying a home gives a feeling of unparalleled accomplishment. It’s difficult to describe the feeling of achieving something for yourself and your family.
The bottom line
No matter your choice of location, homeownership comes with numerous responsibilities, and you should be ready for this. It also has many gains and will benefit you and your loved ones in the future. Choose the right property for your needs, and engage a realtor to avoid making mistakes in the process. Should you be concerned about the legalities of owning a home, remember to contact a conveyancer that can give you the answers you need.
A dream home only comes around once in a lifetime, so set off to find the right one in Australia.
