Buying property in Australia as an expat is a huge undertaking but one that will certainly prove worthwhile. Not only will you have the comfort of your own home to go back to at the end of every day, but your investment will likely prove to be profitable in the future. There is a high demand for housing in Australia and with a consistent rise in the country’s real estate industry, finding a home will definitely require your attention, dedication and patience.
Hiring a real estate agent to help you find property in Australia is the easiest and quickest way to get the home you desire. They will assist you with whatever you need and provide you with a variety of housing options. Their guidance will certainly prove valuable and worth the expense. Even if you’re still living in the U.S. when you begin your house hunt, it is possible to find a place to happily reside in. Moving to Australia is an exciting thing to look forward to. If you’re not moving until you find your home, start looking for property right away.
What You Must Do to Buy a Home in Australia
To buy a home in the country, you must first determine your budget and get pre-approved for a mortgage loan. Once that is all in order find a reliable real estate agent and start house hunting. While your real estate agent works hard to find you a place within your means, you’ll need to apply to the Foreign Investment Review Board for the right to buy property in Australia.
Fortunately, once you have been approved to buy real estate in the country, you’ll get the same treatment as citizens of the country. The only difference between buying a home as an expat and buying a home as a native is a Stamp Duty fee. Expats are required to pay this fee after the purchase of a home. Those buying a home for their first time may be exempt from the Stamp Duty fee altogether if they qualify. Other fees are also associated with your real estate purchase regardless of your citizenship status.
Create a List of Things You Want in a Property
To stay focused on what you want incorporated with your new home in Australia, it helps to write out a list of things you’re looking for in a property. For example, you may want a specific amount of bedrooms, pleasing views, a certain amount of land, or a family-friendly community with great schools. Whatever you desire, write it down for your real estate agent. Although you may not find a home that meets all these needs, your real estate agent will certainly try their best to find a home that fits your requests suitably.
To reduce the amount of time it takes for your agent to help you find a home, try to condense your options by settling on a few specific locations first. Do some research or visit some of Australia’s regions before deciding on what locations to search for real estate in. If you cannot physically check out locations, do some internet research and ask for guidance from your real estate agent. They can suggest locations according to your preferences and budget since they’ll have a great deal of familiarity with the country. Moving to a country you aren’t native to is certainly going to make everything a challenge so start familiarizing yourself with the nation as soon as you decide that’s where you’d like to live.