Buying Australian property as an Expat: why looking in certain suburbs can impact your investment choice
As a Buyer’s Agent, I work with a lot of Expats to help them buy Australian property remotely.
In my experience, I find that when Expats start to look, they only consider buying from suburbs they’re familiar with or grew up in. It’s understandable as you’re overseas and, when you’re thousands of kilometres away, it seems like the safest way to go when you can’t visit different areas personally.
As you’ve spent a lot of time there, you feel more confident about those areas.
However, this can really restrict your investment choices and even lead to an average purchase.
How sticking to the areas you know can hinder your property investment
Australia is the sixth-largest country by area in the world – can you imagine how much space is occupied by properties?
With such a vast country, there are so many different suburbs, all with their own individual property cycles and characteristics to take into account before buying.
You need to have your finger on the local pulse to be able to make good property purchasing decisions.
What makes it challenging is that, when you’re an Expat living overseas, you’re mainly seeing your local news about more local events, meaning you’re not as frequently exposed to what’s happening back in Australia. This can make it hard to know where the best locations are to buy property.
Because of this, buying only in places you’re familiar with may be keeping you from better property investment options that are out there waiting for you.
An example of this
If you’re an Expat looking to buy a home in New South Wales, you may have grown up in Sydney’s Inner West, but what you’re really looking for, based on your budget and preferences, is actually in Sydney’s Northern Beaches or perhaps Sydney’s Eastern Suburbs.
However, you don’t naturally look there because you’re not familiar with those suburbs and that can make it hard to invest in, remotely.
Without having enough exposure to the area or enough ‘buying leverage’ by being physically present, you may not know which streets are a different calibre to others within the suburb – possibly leading you to inadvertently pay a premium for property.
Unfortunately, overseas buyers often fall into this trap for this very reason.
How you can broaden your property horizons as an Expat
The last thing you want is to be restricting your Australian property investment options. But how do you prevent this when you’re buying from so far away?
You need someone who has property expertise, and can be your eyes, hands and ears on the ground to do the property hunting for you – all without suburb restrictions.
A quality Buyer’s Agent keeps on top of local property cycles and suburb trends which they can then share with you. Because they can move around and venture into different areas, they have up to date, in-person experience to help you make the best property investment decisions.
While you can’t conduct property inspections personally, a Buyer’s Agent is your trusted representative. It’s our goal to make everything easier for you by working on your behalf to find suburbs and areas which best suit your investment goals.
With our knowledge and experience, we can perform due diligence, so you always have peace of mind. As an Expat looking to purchase Australian property, a Buyer’s Agent can show you what other areas have on offer and explore those options based on your preferences.
This way, you’re never limiting your investment options simply because you’re overseas.
Speak to a Buyer’s Agent you can trust
Investing in a property is a big decision. That’s why it’s important to only work with property experts you can trust.
A quality Buyer’s Agent should understand and follow your instructions and work to search the market to find properties that best suit your needs.
A good way of determining this is through their testimonials. Happy and satisfied clients always have something good to say about a Buyer’s Agent, so make sure you find an agent who has a lot of positive referrals and case studies, so you can join them!
How Porter’s House helps Expats buy property
Porter’s House has been a trusted partner in Australian property investment and real estate services for over 20 years.
We provide our clients with a strategic, skilled and personal approach when solving your property needs.
We value every transaction that our clients make because we understand that purchasing a property, whether for investment or for personal use, is an emotional and personal experience.
Achieve your property goals remotely with a Buyer’s Agent you can depend on.
For expert property purchasing services specifically tailored for you, contact Porter’s House today – +61 411 202 685 or email@example.com.