Reasons to Buy a New Home in Australia
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.
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.
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.
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.
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.
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.