The Bondi Beach, Sydney Opera House, and the Sydney Harbour Bridge are some of the most beautiful tourist spots that Australia is well-known for. Sydney, one of the largest cities of Australia, is also known as the “The Harbour City”. It is home to several national parks, scenic cliffs, botanical gardens, as well as numerous beaches that border the area. With such a huge number of advantages, it is obvious that buying house and land packages in Sydney is a great investment.
It is always a good thing to buy a house for yourself or the purpose of investment, and this is a great time to purchase a property in Sydney. Several financial and real estate articles before the COVID-19 pandemic claimed that prices of property in Sydney would skyrocket. However, according to the Australian Financial Review, it is likely that the property costs this year might fall by 5 to 20% during the current pandemic.
Cities such as Sydney might have a small hike in the price percentage, but it is still a good place to invest in. This article goes over a few factors that need to be considered while buying house and land packages in Sydney. Keep reading to find out more!
It can be costly to select a property in the Sydney suburb, so finding the best area should be the start of your purchasing journey. Neighbourhoods at the south and north of the central business district such as Austral, Surry Hills, and Crows-Nest Weverton are the best parts of the city for living as per the Sydney Urban Living Index. The safety, lifestyle, community culture, as well as the commute times, are some of the major considerations while deciding the location. You should also look at the length of stay.
In case the house already exists, one needs to check the structure as well as the quality of the property. Electricity, plumbing as well as insulation are some of the factors that need to be looked at. You should also check the property for any damage along with the cost of renovation.
The size of the property is also an important consideration. You should examine the space that you require for your family rooms, halls, garage, and so on. While looking at house rental, you should know that the size of the property also matters. See if the house is single attached or detached. For a detached property, there is more room for renovations in the future. They might be expensive, however detached properties do not lose their value easily.
It can be tricky to decide on a home budget. Taking a home loan can help if you’re buying a property in the suburbs that are in and around Sydney. Calculate the budget and consult your bank or accountant on some of the best ways to decide the amount that can be sanctioned for a home loan. Estimate costs, existing debts, government charges, application as well as inspection fees as that will help decide the mortgage amount. Once you’ve figured out your purchasing power, you can start researching different properties that suit your budget.
Sydney is a city that is close to almost everything – be it the Royal National Park, the Sydney Airport, the secluded beaches of Manly and North Head, or the CBD. So if you’re planning to focus on both work and play, Sydney is an exceptional place to stay.
Author bio: Nora George is a freelance writer who offers to Copywrite and blogging services. She works closely with B2C and B2B businesses providing digital marketing content that gains social media attention.