Relocation Relocation Australia

Should You Buy Property In A Holiday Area?

Many people are keen to make a sea change but Relocation Relocation Australia host, Veronica Morgan, helps you work out whether it is a good idea for you.

Many people are keen to buy in holiday areas. Often people seek to move because they are dissatisfied with their current life (usually the work-life balance) but Peter and Maree seem generally happy all-round. Their's is a well thought out plan, nothing knee-jerk or reactive about it.

Sea and tree-changers often fall into two categories. Either they make rash emotional decisions and make property blunders. A bit like that beaded sarong that you would never be seen dead in in your home town!

Or they keep looking and never actually feel confident enough to take the plunge as they have not had the chance to consistently and thoroughly do their background research.

Peter and Maree have spent so much time in this area so they really know what they like and they also have a good idea of property values. After all, they had been watching the market from a distance for over 5 years before calling on us. They have also spent so many years holidaying at the Gold Coast and tested it in different seasons. So when they visit it actually feels like returning home. But buying from a distance is fraught with danger, so it pays to get expert help. In this case it gave Maree and Peter the confidence to finally take the plunge.

Would-be sea and tree-changers who are not so well versed in their chosen destination would be well advised to consider renting out their city home and packing up and moving to a rented property before they commit to a purchase. It is a great idea to try before you buy. So many selling agents tell us stories of people who get seduced by the holiday vibe, buy a property too quickly then face a significant loss when they realize the dream location doesn't really suit them.

A great way to get to know the flavour of a neighbourhood is to chat to the neighbours. Maree is particularly good at this and spent time getting the local gossip in both of their property searches. In the Gold Coast she discovered that many of their potential neighbours in Burleigh Waters are very similar to them, she also found that people tend to stay for a long time in their street and there are a high proportion of owner occupiers. Perfect for when they relocate. In Melbourne she got a good sense of the type of tenant that would like to live in a modern apartment in edgy Fitzroy. Both fact finding missions helped give her and Peter comfort that they were making sound purchasing decisions.

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