Should I buy a house or hold off? Here’s what you need to consider.
But it’s not that black and white. You have to ask yourself the question, is buying a home best for my situation? The great part is, you have options. You can buy an Adelaide Hills property and live in it, invest in property (and reside elsewhere) or rent.
Don’t rush into anything and take your time to explore your needs, lifestyle and financial goals. Once you’re ready to talk to a real estate agents in the Adelaide Hills, you’ll be empowered and clear in your decision-making.
Get your real estate timing right
Answering this question isn’t a straight yes or no. There are elements that play into it, beyond your personal circumstances. For example, Adelaide Hills property prices, the market, economy, interest rates and future growth of regions.
Is it a good idea to jump into property ownership at times of economic downturn? Is it important to pay attention to rising unemployment and recession rumours? We know that property prices in Australia’s five largest cities having risen 0.68% and restrictions on lending are starting to ease. Experts predict Adelaide house prices will jump 1.4% in 2020.
Yes, investigate these statistics, look at the trends of today, and go back a few years to better understand the current landscape. Be as specific as you can in your research. Focus on your region of choice and a few of the suburbs you’re looking in.
What’s currently happening in these areas? Look at upcoming zoning and developments, fluctuations in sale prices, and demographics of the residents. This is where partnering with local real estate agents are critical.
Can I commit to home ownership for 30 years?
It’s a daunting, but essential, question to ask yourself. With property, the best strategy is to play the long game. Yes, you might sell the house if you outgrow it or life circumstances change, but it’s smart to go into this decision with the assumption you’ll keep it for years, decades even.
If you’re thinking of buying a house in Mount Barker, Nairne, Littlehampton or Strathalbyn, reach out to us. We’ll provide real, honest advice on what you can afford and the best strategy forward. And if you decide you’re not ready to buy yet, we can help you find a house for rent that fits your current lifestyle.
