7 Essential Points to Consider Before Buying Regional Property
Should You Buy Regional Property?
Dreaming of the regional life? The sea breeze, rolling hills, and slower lifestyle entice many residents to escape the big smoke for a life in the countryside.
During the COVID-19 pandemic, the Australian Bureau of Statistics recorded the largest migration to regional areas in more than 20 years. Though we’re well out of the lockdown woods, many are still hearing the call of the mountains. A desire to be closer to nature, family, or good old peace and quiet are tempting – but country life is far different from city life, and there are many factors to consider before making the move.
1. Affordability
Lower property prices are a significant driving force behind the move to regional areas. If a price tag seems too good to be true, there might be a catch: is the property in disrepair or in the middle of nowhere?
2. Amenities
If you forget an important ingredient for dinner, do you face a long drive to the supermarket? Will the school drop-off become a small road trip? If you fly regularly, how far away is the nearest airport? Consider the amenities that are important to your lifestyle, and how far you are willing to travel for them.
3. Internet speeds
Working from home? Regional internet speeds may not match those in the city. Consider if the internet is speedy enough to handle a Zoom call or evening Netflix binge.
4. Public transport
Public transport opens the door to independence for many people. Bus and train services might be scarce or non-existent in regional areas, limiting the independence of those who do not drive. This could result in a sense of isolation or extra chauffeuring to take family members where they need to go.
5. Lifestyle
Does the region match your lifestyle? If you love spending time outdoors, you may want to consider a home close to a national park. If you’re trying to escape the hustle and bustle of the city, perhaps you’d love a property far away from the noise of a main road.
6. Infrastructure development
Is there anything exciting in the local council’s pipeline that might enhance your quality of life, such as entertainment venues, medical facilities, shopping centres, or parks? Not only will this improve day-to-day living, but it is likely to raise your property value, too.
7. Long-term needs
Purchasing a property is a significant decision, so it’s essential you take the whole family’s long-term needs into account. For instance, if your children are entering high school in the next few years, how far will they need to travel for their studies?
Regional areas can offer a variety of lifestyle opportunities – but while the wide-open spaces are tempting, it’s important to consider your long-term needs and plans before taking the plunge. Do your research, explore your options, and make an informed decision that will ensure comfort and happiness not only now, but in the future, too.