If the inner city is out of your price range, don’t give up on your homeownership goals.
The outer suburbs might just be the right choice for you. Here’s why.
It’s true that inner city living comes with convenience and lifestyle, but it can also come with a shocking price tag. For those looking to break into the property market, inner city life may be out of the question for a few years yet, but that doesn’t mean you have to sacrifice your homeownership dreams.
Here are five reasons why you should look to the outer suburbs for your first home.
More bang for your buck
Cheaper asking prices are a huge drawcard for the outer suburbs, calling to first time buyers in states across Australia. And it’s no wonder! Not only will you be able to jump onto the property ladder, but you’ll get much more for the money you spend.
Forget scraping together $500k for a shoe-box-sized apartment in the city. Turn your sights to the outer suburbs and you might just be looking at buying a house for a hundred grand (or more) less. Spend less on buying your house and more on cultivating the home and lifestyle that brings you true joy.
Space to spread out
While you’re swapping that teeny-tiny apartment for a free-standing home all your own, you’ll be able to relish the sizable allotment that comes with it! That’s right, not only will you have more space inside, but you’ll also have your very own land.
Gone are the days of balcony herb gardens and communal outdoor spaces. You’ll have the room to create your own, private outdoor oasis in which to entertain yourself, family and friends to your heart’s content. Whether that’s creating a veggie patch, putting in a pool, or simply relaxing outside without having to worry about anyone invading your space.
Get some peace and quiet
Speaking of relaxing, it’s easier to kick back without the constant buzz of the inner city humming in your brain. The outer suburbs come with a whole lot of peace and quiet that simply won’t be found in the inner city.
Now, we’re not saying that the ‘burbs are absent of all sound save for the quiet rustle of the occasional cooling breeze. Though there is a definite decrease in those constant sounds that have become a part of the cityscape. Think less traffic noise and more chirping birds.
If you have a family, or you’re thinking about starting one, the outer suburbs have a lot to offer. As we mentioned, you’ll have more space in which to grow, but you’ll also be surrounded by neighbourhoods and amenities designed with the family in mind. These outer suburb communities often offer easy access to parks, schools, entertainment, daycare centres and more.
More importantly, you’ll have other families around you, which means friends you can relate to and playmates for your children.
All the growth
Perhaps one of the most surprising benefits of outer suburb living is growth. As we mentioned, living in the inner city is expensive. This has many Australians looking to the outer suburbs to achieve their homeownership goals. And with all of these home buyers comes growth. We’re talking in both infrastructure and capital gain.
Many local governments are spending considerable amounts of money to build up outer suburbs, offering residents many of inner city conveniences. This includes shopping, dining and entertainment venues. Not only will you be able to take advantage of improving lifestyle options, but all of this infrastructure will also help boost the value of your home.
Many property experts have reported that capital gains in certain outer suburbs look promising, which is great news should you ever decide to sell your house. Of course, this differs from state to state, so before you throw down an offer on a home, you should always do your research.