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How to Avoid Over-Capitalising

Considering a move to a regional area? Follow these top tips from Bryce and Veronica. 

Fabrizia and Nick were really excited about the fact that they were relocating from Sydney to the Sunshine Coast because of a job promotion that Fabrizia had received. 

However, like a lot of people that moved to Queensland, and particularly some of these regional areas, they have an unrealistic idea of what their money can actually buy.

Not only did they want the exceptional wow-factor when it came to the house, they wanted an amazing view and was incredibly disappointed when they realised that her money couldn't get both of those things. 

Rather than throw more money at it,  it's definitely worth approaching with a bit more caution.

When you move somewhere that's actually a holiday destination, you do get that idea that you could buy so much more than you can have in your own home town.

So our top three tips for anyone who's considering doing a similar move to Fabrizia and Nick, are these: 

1) Don't overcapitalise on an area, particularly if it's a regional location. Just because you can afford it, doesn't necessarily mean you should pay it. A

2) Jobs are really important in some of these regional locations, so look to buy where there's established infrastructure or up-and-coming infrastructure. 

3) Try and find a location that's within an hour, hour-and-a-half max. from a capital city job market, because if you are susceptible to the local economy and that suffers a downturn,  it gives you a good chance of finding a job nearby - and not having to sell up quickly which is good for property values.

 

 
 

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