Here are some top tips from Bryce Holdaway for those people looking to move interstate.
Shaun and Kelly were truly remarkable Australians! What they were prepared to do to help a mate was legendary stuff… but the reality for them was that they were making an interstate move from the suburbs of Melbourne to the tropics of Cairns and it was no small move.
Here are some tips for those people looking to move interstate:
Do your own research
Visit the area prior to making the decision to move there as you simply can’t research an area on the internet, as you need to visit in person to get a feel for the area.
· Inspect as many properties as you can personally to get an idea on style and value
· Drive around the area and check out the streetscape, housing and the type of people living in the area. The condition of shopping centres, roads and even the cars the locals drive can give you an excellent insight into the area.
· Speak to some of the locals, especially a selection of shopkeepers, as they may have been in the area for a long period of time. Ask about the area; is it a nice place to live, what makes it a nice place to live, is the area getting better/worse?
· Speak with a few local real estate agents, including buyer’s agents. By talking to more than one agent you should get a number of different views on particular locations.
Seek Quality advice
Buying interstate means that you will have different contact legislations as well as different local conditions so two professionals you should seek out are a local Conveyancer and a local buyers agent.
· Local Conveyancer – will advise you on the following differences by state:
o Cooling off periods
o Contract Exchange procedures
o Stamp Duty Amounts
o Exemptions and concessions for First Home Owners
· Buyer’s Agent – will be your eyes and ears on the ground
o Local rules of engagement can be different for submitting offers – some will do verbal others will only accept in writing
o Seek help to negotiate the right price as you will need help understanding areas and what represents good value
o Local Knowledge is paramount and get help from someone that is experienced in completing transactions in the area they you’re aiming to purchase in
Consider trying before you buy
Let’s face it… moving interstate is a big investment in time, emotion and money. Perhaps you might like to rent first to get a feel for the area and work out a) if you like it and b) which areas best suit your new life and how you like to spend your downtime. Importantly, make sure you actually like the lifestyle on offer before you commit to purchasing.