Looking To Invest In The Australian Real Estate Market?
Hundreds of thousands of Brits, each and every year make the decision to move to
Australia and with great weather, superb beaches and cheaper property prices it is little wonder why. So how exactly do you go about investing in Australia?
The first step is to choose where in Australia you would like to make home. Bear in mind Australia is a big place so make sure you do your homework and investigate areas of the country to find out where would be most suitable. If you have children making the move with you then finding a good school in the area is something else you should consider.
Once you have the area sorted then make contact with a reputable realty agent in that area. Let them know exactly what type of property you are looking for: a family home, holiday apartment or a property that needs some work. Once they have your specifications they will soon be able to get together a few properties for you to view.
Asking the right questions is essential when viewing a property, especially so if you are intending to make it a family home. Are there shops close by? Is public transport available? What are the schools like? What is the employment situation in that region? These are all important questions to ask as although the property maybe just what you are looking for, amenities can be just as important. View as many properties as you can - even if you have fallen in love with the first one! And make sure you ask as many questions as you can so you know exactly what you are investing in.
Once you have found a property to invest in then a solicitor should be employed to do check into the properties. You must make sure that there are no debts with the property and all paperwork is in order. The majority of estate agents in Australia work closely with lawyers so should be able to arrange these checks for you.
The purchase process in Australia is pretty much the same as back in the UK. Permission from the Government must first be sought by any over sea's buyers but once obtained the purchase process is relatively straight forward.
A holding deposit (generally 10%) is first put down to secure the sale. Contracts of sale are then drawn up whilst monies are put in place and checks are made on the property. A date is then set for both the buyer and seller to sign and balance of monies are handed to the seller.
Purchasing property in Australia can be accomplished within 6-8 weeks and by using the right real estate agent can be simple and stress free.