Have you been daydreaming about escaping the rat race, crippling mortgage debt and moving to a place that will take away the stress?
As property prices ramp up in places like Sydney, regional areas like Mudgee have been gaining in popularity, but packing up and moving homes isn’t always as easy as it seems.
There is a lot to think about before any move, let alone a move to an entirely new area so it’s important to prepare and do a little bit of research before packing your bags.
Get to know where you want to buy
Spend a bit of time in the specific area you want to buy in before leaping into a new home purchase. It’s often a good idea to rent first so you can get to know different regional pockets and if there is a particular area you like best.
It’s also important to remember that a place will always feel different when you live there compared to when you are on holidays. So if you don’t want to rent first then at least make the effort to visit the area a few different times to get a feel for what it’s like at different times of year. Reading blogs (like this one!), local newspapers and magazines may also help you get a greater insight into what it’s like to live in certain places.
Research the local property market
The Mudgee property market, like other regional areas, is very different to property markets in major cities and one of the main differences you will notice is the price.
Properties in the Mudgee region are a fraction of the price of the $1 million+ properties around Sydney, providing lots of options for people looking for a tree change.
But it’s important that buyers establish what they want in a new home and factor this into their search.
Are you looking for a large acreage property or do you want something low maintenance? Do you want to build a home or do you want an established one? Also think about how important it is for you to be close to the centre of town?
You may need to compromise in one way or another to find the property that suits you best.
Also find out what locals look for in a home because properties in regional areas might have different features of value that you hadn’t considered before.
But don’t be deterred by a property that has been on the market for some time. While some properties may be snapped up in seconds in Sydney, it can take considerably longer to sell in regional areas.
Don’t be afraid to ask lots of questions
Talk to local real estate agents and ask them as many questions as you can think of to help you make the right property decision.
Take your time looking at properties and while you might be eager to buy and settle straight away try not to rush into anything, this way you won’t have any regrets later on.
There is a lot to think about and organise before making the move from the city to the country but we find that for most people, once they make the move they never look back.
To find out more about the Mudgee property market feel free to stop in at 79 Church Street when you’re in town and have a chat to the team at McGrath Central Tablelands. We’re happy to help answer any questions you might have about making the tree change to the Mudgee region.