If you’re planning a big sea or tree change, its really important that you consider a few things first!
Suzie had a fabulous plan to move up to the Byron Bay Hinterland and open a vegan B&B and an animal retreat but there are a few key considerations to think of before making the move!
Have a plan and invest in research.
Make sure that you’re not making the decision through rose colored holiday glasses. Why not go and rent a property between six and 12 months to make sure that you fully embrace the lifestyle, you fully embrace the culture and you’ve also got yourself established in the community.
Visit the area when you're not on holiday.
The property markets in capital cities behaves very very differently to those of regional areas and country areas. Take your time to work out what attributes other local buyers will be looking for and what they’re prepared to pay for. its really important that you do not buy in a country area with a city mentality.
Don't buy with a city mentality.
When you move to some of these sea change and tree change locations, it can actually be quite surprising how many acres of land you could get so its really easy to think that everything is cheap. but its important to understand what the locals would be prepared to pay for the property that you’re interested in.
Understand local prices.
Making a sea change or a tree change is very exciting but I have to ask you to exercise caution and the reason being that once you take your money out of property in a capital city and put it in a country area, you’re not as assured of capital growth. You have to understand that your financial position in ten years time for instance, could look very different than it would if you'd left your money in a capital city property rather than buying in the regional area.