Congratulations! You have made the huge decision to come back to “the sun and the sea”. Expat life is exciting and diverse, but it is a good feeling to be calling Australia home again.
No matter how long you’ve been away, one thing that has definitely changed is property prices. Sydney is up there with New York and London as one of the world’s priciest cities for properties, but that doesn’t mean there aren’t bargains to be had. The good news if you’ve been earning US dollars or UK pounds is that the AU dollar is slightly weak right now, so your money will go further.
Here are some things to consider when entering or reentering the property market from overseas.
Location, location, location!
Think about the lifestyle you want to have before deciding where you want to live. Are you very keen on urban living and eager to be close to the city? If that’s the case, the inner west is a great place to start looking.
Perhaps coming back to Australia means you never want to be more than a stone’s throw away from the beach. There are so many options on Sydney’s Northern Beaches and one of the perks you’ll enjoy as a resident is a free beachside parking permit.
You might find that being close to transport or certain schools is now top priority, so consider all your needs and look at what’s available before deciding on the area where you’ll settle.
Your property requirements
Australian houses are designed and built very differently to the ones you’ll find in Europe or the US.
If you’re looking for an urban location, keep an eye out for something with a car space or two to reduce the hassle of driving around the block looking for a spot at the end of the day.
Australia is the land of the (almost) endless summer, so a house with a fabulous indoor / outdoor living design will help you make the most of the warmer months.
That being said, many people returning from overseas get a shock when they remember how cold Australian houses can be in the winter! Few properties have the luxury of central heating Down Under, but if you can find something well insulated or with luxurious heated floors you’ll be thanking yourself when the temperature does drop.
Understand the market
Almost everyone is Sydney is obsessed with property prices and has a fair idea of what the market has been doing lately. If you’ve been away you’re probably out of touch with what’s a fair and reasonable price for a house or terrace.
You don’t want to find yourself overspending on a property when you’re preparing to make the move back to Australia. Do some research and find out from reliable sources what you can expect to get for your budget.
Returning to the Australian property market can be daunting. Enlist the help of a buyer’s agent who will make the process of finding your great Australian dream home hassle free. Contact Amanda On My Side for more information.