Tag Archives: buying property mudgee

The great Australian dream in Mudgee

We think it’s fair to say that a lot of Australians are property obsessed! People love to follow their local property markets and tune into reality television shows to take a glimpse inside homes around the country.

No matter where you go you’ll find people that love property, however the dream of owning a home is undoubtedly becoming an ever-increasing struggle in Australia, particularly for a lot of young homebuyers in some of our largest cities – namely Sydney and Melbourne.

But luckily not everywhere in Australia is faced with the same affordability issues as our big city counterparts and more and more people are looking elsewhere to make their property dreams a reality.

We are increasingly seeing people packing up and making a tree change to places like Mudgee where properties are still very affordable (Mudgee’s median house price is $372,500 according to CoreLogic RP Data) and there is a fantastic lifestyle on offer too.

Mudgee is definitely one region where the great Australian dream is still within most people’s grasp and as Sydney property prices get further and further out of reach, it’s likely we’ll see more people turn to hidden gems like Mudgee where they can make their property dreams a reality.

Tips for those thinking about making a tree-change to Mudgee this year:

  • Make sure you do your research: Before buying property anywhere you should get to know the local market conditions and the variances between properties. The more you know, the easier it will be to find a place that’s just right for you.
  • Spend some time here: There’s nothing like doing research on the ground. Spend a few weekends in Mudgee, visit open homes and get to know local agents so you can get a good feel for the property market and the area too.
  • Get the right help: Enlist the help of a buyer’s agent who knows the local area inside out and can help find the perfect property.
  • Consider investing before buying: If you’re not willing to take the plunge and move to Mudgee just yet then consider looking at your investment options. 

If you’re thinking about moving to Mudgee then feel free to browse our properties for sale at professionalsmudgee.com.au or pop into our office at 79 Church Street. We’re happy to help in any way we can.

What’s in store for Mudgee property in 2017?

The sun has set on 2016 and it’s time to look to the year ahead and predict what’s in store for the Mudgee property market.

Last year was an interesting year for the Australian real estate market. We saw interest rates reach record lows; Sydney property prices get out of control and a growing issue of affordability in many of our major cities.

Will this year be any different, and what does it all mean for us here in Mudgee?

Affordability still an issue

Housing affordability isn’t going to go away anytime soon. Despite the best efforts of regulators, Sydney prices continue to escalate and even if prices stabilise they will still remain out of reach for most first home buyers. The median sales price for units alone in Sydney, NSW in the last year was $695,000, according to realestate.com.au.

Compare this to Mudgee, where median sales price for houses in Mudgee, NSW in the last year was $374,000. For almost half the price of a unit in Sydney you can get a house in Mudgee – not a bad deal!

A lot of people from Sydney have been looking at alternative pathways to get into the market, from rentvesting to buying with friends. Many buyers are also looking to escape from Sydney altogether, which brings us to our next point…

The rise of the tree-changer

Regional areas are looking increasingly attractive to people living in major cities. Lots of people want to escape from the hustle and bustle and get out and enjoy nature, space and peace and quiet, while still having a vibrant town to visit when they want to experience culture and entertainment.

Places like Mudgee offer all that and more with beautiful houses at affordable prices and a lifestyle that can’t be beat.

Tree changers used to be reserved for people of retirement age, but it’s becoming much easier for younger generations to make the move to regional towns thanks to many jobs now offering the ability to work remotely.

A lot of people can do their work from home, and if they need to travel from Mudgee to Sydney regularly can do so via daily flights.

More and more people are discovering the magic of Mudgee and this will continue in 2017 and beyond. 

Renovations will remain popular

A lot of homeowners will look to maximise their home’s value by making improvements. Renovations have and will always be popular, but as we see more renovation shows and drool over pictures on Pinterest, it’s hard to not want to make our homes look as good as the ones we see elsewhere.

Expect to see a lot of locals rejuvenating their old Mudgee properties and making them look like something you would see in a magazine. Particularly people selling, who realise the importance of presenting their home at its best.

We can’t wait to see what else 2017 will have in store for the Mudgee region! If you want to talk more about the local property market then feel free to call us at Professionals Mudgee on 02 6372 2584.

What you need to know before you buy a home

Thinking about jumping onto the property ladder but don’t know where to begin?

Buying a home, particularly for the first time, can be a daunting experience and those first few steps you need to take are often the hardest.

Start your property journey on the right foot by doing as much research as you can and having the knowledge behind you to make informed choices.

Find out what you can afford

It’s a good idea to talk to a bank or a lender to discuss your home loan options once you have a little bit of money in the bank and think you are in a good position to buy.

Some lenders may allow you to borrow more than others, but keep in mind that you should allow yourself a financial buffer so you don’t find yourself in financial stress later on.

Always do your own calculations and talk to a few people to get a solid idea of your borrowing capacity.

It’s also worth getting pre-approval ready so that you’re confident and know what you can afford when you start making offers.

Learn about the buying process

It can pay to gain a solid understanding of the buying process and learning about the practicalities of buying via private treaty or by auction (although auctions are less common in Mudgee).

It’s not too hard to figure out the buying process along the way, but you could save yourself a lot of stress and heartache by being aware of what is means to sign a contract and what the obligations are of all parties involved.

The Professionals Mudgee team will always be on hand to answer any questions you might have, but it’s always a good idea to talk to family and friends too and get them to share their buying experiences and anything they wish they had of done differently.

It’s also a good idea to have a solicitor or conveyancer ready to go so you can call up for any advice, or have them look over contracts for you.

Research the property itself 

There’s no questioning that buying a home is a major life decision, and it’s always worth doing your due diligence on a property to ensure you’re not going to have any regrets in the future.

Get a professional building and pest inspection carried out to find out the quality of a property you intend to buy, and if you plan on buying an apartment, a strata report is very worthwhile too.

Research the neighbourhood the property is located in too and find out if the area is suitable for your lifestyle and if there is adequate transport or amenities available to meet your needs.

If you’re armed with information and are confident and ready to buy, you’ll be better equipped to move quickly on the right property when it comes along.

Want more tips to help you confidently purchase your next home? Contact Professionals Mudgee today.

Is buying the worst house on the best street a good idea?

Location is one of the most important factors to consider when buying a home and so it’s not uncommon to hear the advice that you should “buy the worst house on the best street”, particularly if you want to break into a popular area for less.

However before you go out and find a rundown home that you can renovate into a palace, it’s a good idea to first ask why a home is being sold for less than others on the same street.

Sometimes there are good reasons why a property is cheaper – it might be facing a busy road, on a smaller block or there could be various other factors. Just because you found a cheaper property on a popular street does not necessarily mean that you can renovate it to the same value as other properties on that street.

If you’ve done your research and the block itself is fine though, and it’s just the house that needs the work, then think about the renovations you would have to do to it before moving in. Some things to think about:

  • Will you need to knock the house down and build it again from scratch?
  • Can you live in the home while renovations are taking place?
  • How long do you expect renovations to last (If you’re buying an investment property then you should also ask how long you might be without tenants)?
  • How much will renovations cost?

Buying the worst house on the best street can make for a more affordable way to get into your favourite street, however if you’re looking for a house in a better condition then you might want to instead consider moving to a nearby street where you take advantage of the same local amenities but without the hefty price tag.

At the end of the day though, everyone has their own personal property preferences and will like a house and an area for a variety of different reasons, so go for the home that you think is right for you.

Luckily in Mudgee we consider all of your streets to be among the “best” so if you’re looking for your new home then feel free to browse through the properties for sale on our website – professionalsmudgee.com.au.