When you’re looking for a home in Australia for retirement, a new residence, or as a holiday home, your budget will dictate which listed homes you visit. While locations such as Australia and New Zealand aren’t thought of as cheap places to retire, there are ways to find affordable homes. Since affordability is different for each person, one of the most important aspects of buying real estate in Australia is finding a price that won’t put you in a lifetime of debt.
Choosing the Right Area of Australia
The first step in choosing affordable housing is picking the right area. Your Australian real estate agent can guide you to the best spots of Australia, but in order to find the cheaper homes, you will probably need to venture away form the larger cities such as Melbourne and Sydney and look in more rural areas.
Rural areas are especially nice if you’re looking for a home with a few acres of land. Depending on your reason for purchasing an Australian home, whether you’re a resident of the country looking for your first home or an expatriate looking to relocate, buying a home in the country can save you money.
Looking at Older Homes
Another way to find cheap Australian real estate is to look at something other than new developments. There are plenty of affordable older homes because they need modernisation. If you’re trying to stick to a strict budget, you may want to consider looking at a few homes that need a little work. This can save you money and allows you to make your own improvements over time. This will not only improve the look and feel of your home, but increase the resale value should you ever choose to sell.
If you’re able to invest in an older home, make sure you tell your realtor which types of improvements you’re willing to make and which you aren’t. A kitchen remodel may want to be something you’re willing to take on over time, but an overhaul of the plumbing or electrical may not.
Checking Out Alternative Properties
There is some Australia real estate that isn’t classified as a home but can be converted into a home. Old structures such as churches are often sold cheaply because there is less of a saleable demographic. Speak with your realtor about alternative properties that may fit your budget and your tastes.
Have fun. Part of the excitement of a new home is the looking. Make your wish list, talk to an established real estate agent and then you’ll be on your way to buying your new home.