Home sweet home: [part 1] - To buy or not to buy? Happy Easter Little In Australia, more than any other country, be "owner" is very important, even the No. 1 priority for most families who have no qualms about going into debt up to his neck 30 years (or more, with a growing tendency to see pensions still paying their credit). A recent
study reveals that 70% of households own their own home, one of the highest rates of all countries. There are also fewer disparities by income, with 55% of households have low income owners against 80% of households had high incomes. In addition, the Australian built "more and more", with living space averages has 208 square meters, against 102 square meters for the Europeans, for example.
Since we are in Australia, there has been a tenant, first in Melbourne, then Brisbane. But it's true that after a while, this can become frustrating and a desire to own our own home has been felt. It can be done six months we started to look at properties for sale
http://www.realestate.com.au/ . The permanent visa was a little troll, but we finally received last month ... When you're expats in Australia, it is preferable to wait to have this visa before becoming famous owner.
To this, several reasons. Firstly it makes sense .. as we will be able to stay on before taking steps heavy and expensive and start on such a long term investment. Then, even if it is possible to buy it as a temporary resident, it is subject to certain constraints, such as having to buy new, post a file which must be accepted by the authorities ... Also, from a financial point of view, it will be harder to find a bank agrees to lend to a resident and temporary rates will be less favorable.
You think that buying a home is a pleasure. Think again, you become disillusioned very quickly. The experience of many similar friends confirms: buying a house in Australia is littered with disappointment, frustration and stress. Take a look at this website realestate and you quickly realize ... $ 500 000 in Brisbane (345 000 Euros) will indeed become the owner, but at best, an old Queenslander distant city.
Another site that few people know, is really very helpful:
http://www.onthehouse.com.au/ . It must first register (free), then click on "Reports" that allow you to see sales history according to some criteria such as suburb, street address ... It can also be interesting to see the profit a seller can do (and help you negotiate) ... You will see that in 10 years, prices have double and sometimes triple ... The most impressive is when you look at the price of land has more than quadrupled.
several reasons for this inflation. First a very poor management by the government: land exist but are made available on the spot market drop. Do a search to buy land, you see, those available on a suburb can be counted on the fingers of one hand.
The other reason is the nature highly speculative real estate market of Australia. Real estate is seen by Australians as a highly profitable investment vehicle, with unlimited growth. A lot of Australians "invest" in real estate, ie they buy, rent some time to cover a part of drafts, and then resell a profit ... The same practice is widespread for the land they buy, keep the ground a number of years and then resell a profit later. All this of course has the effect of compelling the offer even more and drive prices up (which is the purpose of research): the Australian is indeed responsible for his own "inaccessibility to the property."
The GFC had a slight effect on prices, with a significant drop in 2008. Some government aid are coming mitigate this, such as the tripling of the "first home owner grant. Initially with support from $ 7,000 households become owners for the first time that it rose temporarily to $ 21 000 for the nine and $ 14 000 for the former. This aid is returned to its original level in 2010 and a ceiling was introduced. Since 1 April 2010, houses more than $ 750,000 no longer give relief of this assistance (dates and ceilings depend on the state, the figure I gave is that of Queensland). This assistance has resulted in strong support of the application, especially for homes under $ 500,000 (category or "stamp duty" tax, a purchase is also canceled).
However, in 2009/2010, the market is considerably and the hause with prices equal to or better before the CFA ...
Knowing that the Australian economy is distributed at 100 miles an hour, it is regarded as one of the strongest in the world and the population continues to grow ... Prices seem to be left for infinite growth over several years.
Time to buy.
[... to follow]