So you are ready to be a true adult and buy or build your first home but you are not sure which is best?
Our advice is to invest in a home with land over an apartment as land value will always increase with population growth but apartment value may not.This aside, the true answer is personal for everyone however; here are some things to consider helping get you to your right answer when looking in the Brisbane region.
1. Where do you want to live and how much do you want to spend?
Inner City - More longer established and more expensive properties. If you have a low budget (min $700,000 in this area) and are willing to live in an older or smaller home then go for it. If not, then let us try the Middle Ring.
Middle Ring – Combination of new and established homes. This area was where the new estates area was 15-20 years ago. Here you will find a good quality home for $600,000 to $650,000.
Outer Suburbs – Typically newer homes in newer estates or vacant land with a lower price. A $500,000 budget in this area could buy you the land and allow you to build a new 4-bedroom home to your specifications.
To find out exactly how much bang for your buck you can get, your best bet is to hop on to https://www.realestate.com.au/sold - type in your dream suburb/s and house specifications then hit the search. Do not go too crazy here because while we all want to live a champagne lifestyle, let us start at the prosecco level first to avoid the home buying blues. This search will show you houses that have sold in these suburbs, the date they sold and how much they went for.
Best to sort by newest to oldest to get the most current results.
2. What type of lifestyle makes you happy?
You are a bit of a homebody or you don’t mind a drive then the outer suburbs should not be a problem. You will have easy access a local hub for supermarkets, cafes and restaurants – everything you could possibly need for living a calm peaceful life, will be right at your fingertips.
That doesn’t sounds like you? You’re time poor because you’re into a big social scene. You go out most nights, can’t remember the last time you cooked or got home before 10pm. You want to be where the action is from music gigs to new bars & cafes. Then the inner suburbs is your area. While you may need to compromise on having something shiny and new, you will be able to embrace your inner designer and head down the lines of home with a shabby chic Brooklyn-esque feel.
You like both? Then you are the lucky one, you could live anywhere however, we recommend middle suburbs so that you still have easy access to the social scene but can be reclusive if that is what you are feeling.
Did this help you in your decision making process? If yes, then awesome! And if you have decided to build then don’t forget to check out our home designs and house and land packages via this link. Good luck and well done adults!
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